financialflagship

DOW JONES 30 (DJIA) – Week 7 – Will we fill the GAP?

Short
TVC:DJI   Dow Jones Industrial Average Index
The Dow Jones Industrial Average hit a new high in Tuesday’s session, with Salesforce ( CRM ) stock being the top gainer in the Dow Jones today, up 3%.
Besides Salesforce.com ( CRM ), JPMorgan ( JPM ) and Goldman Sachs ( GS ) also outperformed in the blue-chip index. Another important factor was the big jump in the 10-year Treasury yield, which rose 9 basis points to 1.3%.
From a technical perspective, the price is moving up and down inside the ascending channel for a while now, with a chance of an increase towards the 32000.0 psychological level which coincides with a possible resistance area generated by the channel.
We expect the price to crawl upwards in the short-term, but the bigger picture points to a price depreciation that can fill the gap formed at the beginning of November.
We recommend patience and discipline. Don’t jump in any trade without a proper setup.
Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.

Comments

I love this analysis. thank you for sharing
+1 Reply
@abel11, Thanks mate.
Reply
Things are not going well. High P/E's. Over extended stock prices on hype. No Stimulus coming. Walmart earrings weren't good. Apple's stock is getting crushed. Washington still has over 6000 troops stationed at the Capitol with a complete lockdown of the Capitol. Something very bad is coming! I see the Dow dropping to 25,000 soon. This is worse than the 2008 bubble.
+1 Reply
@HotCharts, Good point you put out there. When this bubble will burst it will be a blood bath...
Reply
yess I am waiting for Dow too!
+1 Reply
financialflagship TheSignalyst
@TheSignalyst, Keep it up mate!
Reply
Interesting analysis, very good 👌
+1 Reply
@FXtrades-gp, Thank you!
Reply
Amazing sell opportunity! Thank you for sharing this
+1 Reply
financialflagship caldooninvestment
@caldooninvestment, Great opportunity indeed. Thanks!
Reply
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