The first Daily Bearish Reversal in the Dow Jones Industrials lies at 16459. We need a closing beneath that for a pause and a close beneath 16131 for anything more prolonged. Yesterday was the Directional Change that produced a temp high. The next turning point is due tomorrow. The key weeks ahead at 05/26 and still 06/09.
We still see a short-term correct on the horizon. The biggest problem for the markets remains the shrinking volume and liquidity. This increases the wild moves we will start to see especially after the summer.
