CBOT Dow Futures : A breakout at 12,255 should be good for a 200 point bounce
August 1, 2011 Leave a comment
The Dow and indeed Dow Futures have been beaten down for 6 session due to both rather poor US data and indeed to saga over the debt ceiling.
Watch for an imminent break above 12.255 which will point to 12,450 or so as the target.
A failure to pass 12.255 tonight would be bad news, ad a break below 12.155 as very bad news for global equities Tuesday.
Surely the raw patriotism on show Stateside whenever they get the chance will win out, and a rally ensue? Hard to have faith in such a bunch of idiots thought.