My two main target levels for the Dow

The Dow Jones's recent rally may have fooled some people into believing the bull market was back on. But John C Burford doesn't think so, and turns to the charts for a low-risk short entry.

When I wrote about the Dow last Monday, it had made a sharp move up in a classic short squeeze. And since then, the charts have given me the green light to get back on the short side. I'll tell you more on that in a moment.

First, an observation I wonder if you've noticed the same thing?

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Bullish33%4%39
Bearish33%-11%30
Neutral34%7%31

John is is a British-born lapsed PhD physicist, who previously worked for Nasa on the Mars exploration team. He is a former commodity trading advisor with the US Commodities Futures Trading Commission, and worked in a boutique futures house in California in the 1980s.

 

He was a partner in one of the first futures newsletter advisory services, based in Washington DC, specialising in pork bellies and currencies. John is primarily a chart-reading trader, having cut his trading teeth in the days before PCs.

 

As well as his work in the financial world, he has launched, run and sold several 'real' businesses producing 'real' products.