DOW weekly chart

DOW weekly chart's candle formed gravestone doji, a sign of reversal. Meanwhile the dow daily chart show sideways movement.
On Oct 26 close, DOW close lower with increasing volume.
I check the technology(XLK), energy (XLE) and financial sector(XLF) as the leader of market rally. Financial currently on the support of MA50 (daily chart) after went down because bad news for banks.
Weekly energy and technology chart is at resistance level MA50 and can not go through it.
They signal that market may have some pullback.
DOW can reach MA 50 before go up again. Some profit taking action are going to happen. We just to be careful to see if the big institution sell to individual customer (which often come late) at top.
I have not added more long position because of this market behaviour lately.
The last time DOW hit MA50 showed good entry point because market went up after that. I will wait to see that happen while looking for some potential short position.

BAC chart show some weakness as it break support yesterday, creating first lower low.
Usually market will bounce up after went down more than 100 points these days.
So when BAC go up then fail to create higher high, then we can go short BAC for more safer entry point. The timing entry should be at 15 minutes before market close.

Best regards

Snip