It looks like the DOW is going to continue down and could hit the 12,200 by the end of July. Or it could trade sideways and not reach that low. The DOW continues in a down trend until it breaks through the trend line shown as the yellow line in figure 1. Right now I can't tell if the DOW is going down further toward the 12,200 level. We need to watch and see if the price goes through the upper median line on the red pitchfork or heads down to the intersection of the red and blue pitchforks. I have circled the area in yellow.
Figure 1.
Now let's look at the Qs. Figure 2 shows that the Qs may test the$50 -$51 highs later this week in to next week. Or this may be the start of a downward move toward the bottom ML of the pitchfork. Again, we will have to wait and see.
Fig. 2
Lastly, my updated watch list. Baxter(BAX), Intel(INTC), Colke(KO),Companhia Vale Do Rio(RIO), McDonalds(MCD), Illinois Tool(ITW). I dropped Johnson and Johnson(JNJ) it made its move too quickly for me to catch it.
Figure 1.
