Bullish channel: DJIA

As per the header and our fleeting post yesterday, technicals are looking fairly bullish on US indices. Ahead of Non-farm payroll data tomorrow, both the Dow Jow Industrial Average and the S&P have established 500 bullish channels:





Pursuant to this, we executed a sizeable long position post market close at 10385 DJIA with a view to hold this until we test the top of the channel or the market consolidates below the channel's lower parameter.

We also managed, though rather fortuitously, to execute a speculative cable short at 1.5123 on the back of enduring descending resistance:



As of 1533 this is looking like a protracted intra-day pullback and so we may add to the position if opportunity sufficient presents itself.


Safe trading flatbookers!

"Our favourite holding period is forever."
-Warren Buffett