Dow Jones turned bullish on its 1D technical outlook (RSI = 59.241, MACD = -34.600, ADX = 33.114) after more than three weeks as it smashed past our target and even crossed over the R1 level (34,150). The inevitable formation of a Golden Cross on the 4H timeframe, indicates that this sequence has one more High left to give on the LH and HH trendlines cross.
The...
The short answer is that I don't know! As I keep saying, I don't own the future. I'll say what I see and my inferences.
1- Wide zone of congestion approaching - likely to cause hesitation.
2 - A rising contracting wedge.
3 - A retracement on the 1D time frame up to near 76.4%.
None of this is predictive of anything. Markets do as they like - or more...
Hope this idea will inspire some of you !
Don't forget to hit the like/follow button if you feel like this post deserves it ;)
That's the best way to support me and help pushing this content to other users.
Kindly,
Phil
FOLLOW SKYLINEPRO TO GET UPDATES.This is the second post of 3 on the analysis of US economy and stock market. Top left we see the interest rate spread (3-month minus 10-year US Yields): a leading indicator of problems ahead is when this yield spread inverts down after coming up from the zero line. The real trouble occurs when it uninverts after reaching a low....
This is not a prediction. I don't do predictions. The setup is only a probabilistic estimate based on a reckless disconnect between market sentiment and fundamental reality. It's probably the most reckless in history.
For every probability estimate in one direction - NOTE CAREFULLY - that there is a residual probability in the opposite direction. So if for...
In ou previous post we indicated that the reversal move up could be wave 2 or wave A, after the index crossed the line ow the previous peak, the confirmation is for wave C up which should develope in 5 impulse waves where minute 1 and 2 already happened today, Wave C move should reach a target around 23200 and 25200 before the intermediate wave 3 takes the index...
DJI is expected to RISE now.
There are many reason why we feel it may RISE.
01. It is taking support at quarterly levels trying for a big jump.
02. Bullish engulfing in daily Chart.
03. May reach weekly target 16326
04. Stoch RSI (3,3,14,Close) states it may rise.
05. RSI(14,CLOSE) Is also of the same view.
06. CCI(20,CLOSE) Is also rising.
Keeping all the...
