[Soultrader]

Don't be fooled by the wild swings of the markets. Today the Dow took a dive for about 90 points in the afternoon session.

Do not mistake this for market weakness. The Dow then recovered the entire 90 points on STRONG buy programs. (see attachment for interesting premium action)

The Dow then closed within value indicating absolute balance. We have now entered the 5th day of consolidation. There was obvious strong buying presence at the May breakout point of around 11860. This may indicate price acceptance in this new zone. Therefore we have a good possibility of a further lift to the upside and a continuation of the trend which begain in early July.