Trading thoughts for this week

Before anything here's a reminder to myself:

Scalp
Scalp
Scalp

My week ahead

At the risk of sounding boring I'm looking to post 5 consecutive profitable days. If I'm in the mood I'll go for my £500 daily target although last week there were days I was happy to simply make a couple of profitable scalps, take money out of the markets and be thankful for that.

DOW trading range

I don't think we'll see the DOW as bullish as it has been. We formed a slightly bearish candle on Friday (Daily) and the weekly candle also shows we're running our of steam. This makes perfect sense as we've seen such a strong 8 weeks.

We're currently at around 16100 and I think the bulls will have one more go at the high of 16175 achieved last week and after that I think we'll see another flat week. I'm going to put my neck on the block and say a high of 16200 and a low of 15950. If a little panic sets in we could see 15850 at which point I expect to see the bulls step in with all guns blazing. Of course a daily close tomorrow above 16175 will be a bullish sign but as I'm scalping it means little to me.