The market is still failing to break Dow 27,000

Okay, welcome back, everybody! I hope you guys are getting set for a great weekend here. So, with the markets just now closing up here on Friday. I just want to go ahead and remind you of the unfortunate news if you’re looking for long side trades the market has failed once again to go ahead and break Dow 27,000 we went ahead and we hit beyond Dow 27,000 we pulled back excellent, excellent, we’ve got to get up here and break above this high and failed, failed, failed, failed again and here we are back down below 27,000 or 26,916 as of the time of this video you know with the last few minutes closing up here.

So, unfortunately, for those of you they’re looking to get all excited about the breakouts – not there at this time. We have a ton of distribution right above us for every bit of buying. They’re selling knocking us right back down but then as we’ve been getting down into these areas there was plenty of accumulation. This is a rather unusual sight to see on daily charts. This is the kind of thing you’ll see on intraday charts before big moves you don’t see it as often, so pronounced, with these accumulation, distribution bars back to back to back to back like this. So, this indicates a market really winding up for a pitch out of this area here and so we are watching to see who’s gonna lose this battle. Are the sellers going to lose and dry up and then this thing can explode the upside? Or are the buyers gonna go ahead and lose and stop running out of inventory to buy here? And then this market starts to plummet, so, right now the Russell, we’re always talking to you about watching the Russell.

Russell’s been the weakest of the bunch. It got slightly below the accumulation bars set here on Wednesday and while all the other ones, as you can see, kind of got held within Wednesday’s lows. So, the Russell’s still showing a little bit more weakness which is the kind of thing you like see if you’re looking to go long here, so, Russell’s got some serious work to do. All these markets have serious work to do we’re still looking to break above these highs and unfortunately we are looking to hold above Dow 27,000 here and push right back up and we failed that epically here on Thursday and, so, this is where I keep worrying about so unfortunately Dow 27,000 is still not support and so if you get aggressive on the long side, you know, you can go ahead and pay a price for that which means you know any type of trade to do from my perspective would be an underlying options trade, so, you can kind of hedge that risk and manage and control the loss if you’re on the wrong side. So, with that being said we’ll have a lot more to share with you. Next week should be a big tell for us, statistically speaking, we should break out of this area out or down next week. So, we’re gonna be on that case of it pretty close and watching for our key long side and or short side trades spending which we would break. So, we’ll keep you up to date and they just wanted to give you the news that Dow 27,000, once again, failing to become support. Talk to you soon, gang, you have a great weekend and we’ll see you in upcoming videos! Bye-

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