MaryJane
Long

H&S - good for 2.400 points or 13,5%?

INDEX:DJY0   DJIA
615 4 44
Possible LongtermTarget: 21.250

What can we see?
In the long run, we see a huge bullmarket since 03/2009. Since 08/2015 the market consolidates very volatile.
The consolidation range reached from 15.400-18.000. The last bottom test earlier this year, formed a clear double bottom - the result was an exploding market which skyrocketed round about 2.700 Points!
Since 04/2016, this massive trend consolidated - a shortterm sideways market appeared.
Should the market test again the Niveau above 18.000 - a H&S-pattern would be formed. The target of this pattern is good for 2400 Points - 13,46%.
Below 17.000 Points, ist getting more and more risky.

Comment: The RSI still signs further upwarts-chance, we are still not oversold yet
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but the RSI weakens a bit...
Comment: RSI!!! .... a dip down to 18.300 (former Tops) or better 18.100 (38,2 fibo) would be healthy and has to be exspected
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Comment: aha
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Comment:
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Comment: 1800 Points till yet !
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Comment: yihaaaa
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Comment: that`s really crazy:
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Trade closed: target reached: 2611 Points! 14,5%! cheers
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Interesting view. Thank you
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I agree with your position that a short term rise is possible. It is possible that the state interventions will once again support long side. Fantastic how fast the Brexit issue was resolved - only the convergence in gold price rise and stock rise with dollar up was not normal. I 'v sold my SH during brexit down but now with every new top I will be buying more SH. Important - I'm ready to wait.
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Nice posts generally. Thanks!
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Thank u very much!
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