DOWI: Cautiously Bullish. Closed above the trend resistance Long

DJ:DJI60

Dow Jones Industrial Average IndexDJ

Description

⋅ Feb 23, 2018 10:13 PM

Need to print a few higher highs and higher lows as shown as the subwaves of wave 3.

Comment

⋅ Feb 27, 2018 11:27 PM

Comment

⋅ Feb 28, 2018 5:18 PM

Filled gap and printed hammer.

Comment

⋅ Feb 28, 2018 9:11 PM

DOWI reaching last line of support. If it goes below 24792, count is invalidated.

Comment

⋅ Feb 28, 2018 10:39 PM

Daily Chart:

Comment

⋅ Mar 1, 2018 6:40 PM

Wave 4 still in progress. This is the most bullish case I can think of. A 4 flat or sharp is still a possibility.

Wave Analysis

Comments

Eric118

⋅ Feb 28, 2018 3:39 AM

MACD is pointing down with downward histogram. looking forward the line direction in the next few session if it is pointing upward and if it is thus the illustrated iii probably would hit

Will_Wong

⋅ Feb 28, 2018 6:09 AM

@Eric118, The wave 2 retracement is already 0.382 of wave 1. I think at most another small drop tomorrow. The Williams%R is in oversold territory and ready to turn upwards!