ASX dragged lower by the Dow

The Dow Jones futures market fell for an 8th consecutive day on Monday, a bearish sequence not seen in over 12 years. And that's not good news for ASX 200 bulls, as the index tends to track the Dow very closely.

The daily chart looks like it wants to head to 8200, and it just 1 - 2 bearish trading days away from it looking at a typical day's range. The 1-hour trend has favoured bearish swing traders, who could seek to fade into moves towards the 20-50 hour EMAs.