jeannek
Short

DIA - Fibo Cluster Level Overhead @175-176 Band

AMEX:DIA   SPDR DOW JONES INDUSTRIAL AVERAGE ETF
a year ago
Looking for potential retracement high to Short the indices , with my main focus on DIA             currently.

DIA             staged a nice ABC-wave rally recovering from major pivot low of 150.5.
Currently looking ripe for a continuation of the underlying major correction from 183-150.

The 175-176 region is ultra significant, comprising of:
(i) previously surrendered H&S neckline,
(ii) 76.4% fibo retracement line for the 183-150 plunge, & also
( iii             ) the 127.2% extension level of earlier rise from 155-167.

Similar setups can be found on the other 2 indices - SPY             & QQQ             .
Will update on SPY             over the weekend. :)
a year ago
Comment:
#DIA‬ ‪#DJI‬ ‪#dowjones‬ ‪#index‬ #fomc

US major indices continues to stall as all eyes on FOMC decision due tomorrow - 1400h EST

Technical check on other FOMC-sensitive instruments:

* Crude Oil (/CL or USO,UCO) - Bearish
* Gold (/GC or GLD) - Short-term Bullish
* 10yr Treasury Yield (TXY) - Rise-averse sentiment
(Yield dropping from 2.097% to barely hold above 2%)
* Volatility/Fear Index (VIX) - Bullish
(Strong; bottoming out from 15.48 pivot low)

--

Overall charts are singing a BEARISH tune on tomorrow's FOMC rate decision.

Anyway, I'm of the opinion that its more likely that Fed will raise rate during its Dec meeting (Dec15-16) instead; if they plan to surprise the market consensus of a Jan'16 hike.

--

I have:
(i) Long on VIX
(ii) Short on DIA (cfd), Buy Put on $DJI

Plus, a few other potential trades waiting to go in Post-FOMC.

Trade Safe peeps! :p
a year ago
Comment: more detailed observations here >> https://www.facebook.com/mytradingspace/posts/983906411682138
jeannek
a year ago
More detailed observations here >> https://www.facebook.com/mytradingspace/posts/983906411682138
Reply
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