Looks like a top for the US market

INDEX:DOWI   DOW Industrials
446 5 8
Let me start by saying that the fundamental analyst that I follow closely sees further upside on the global markets, including US. This of course takes away my confidence in the bearish bias I have, but I can't completely ignore the obvious technical signals.

Divergences on the Dow work almost perfectly, both on weekly and daily. I have published divergence studies in the past, so if you are interested, check them out, because this chart is only about these last few weeks. At the beginning of march, you can see a class b bearish divergence, and I believe we tested that level, with another bearish divergence. The difference now is that we had a false breakout over the historic high, and there is a histogram divergence! This is rarely seen on the DOW!

There might be some more lateral movement, as the hourly chart is very oversold, but as long as there isn't a close over 16575, I'm holding my bearish bias. Support lines are plotted on the chart, and we must watch for bounces.

I don't want to be taking profits at any of these targets, I wan't to add to my position any time I get a chance, cause if I'm right, this is the top for now. I don't know if it is the end of the bull market, I forgot my chrystal ball, but it certainly has all the characteristics of a top.

vlad.adrian PRO BuboWaveTrader
well ye, I didnt say we are going to 10000 or anything. If I am going to see a buying signal, I'm going to take it
vlad.adrian PRO BuboWaveTrader
Posting a chart and saying buy the fucking dip has no point. You don't base your ideea on any strategy or market interpretation, or at least you are not telling us. Right now the signals are bearish. There's no point in buying. Maybe in two days that will change, who knows... using your chart to trade is like crossing the street blindfolded, there's not enough information. As I said in my previous reply, I do not know if this is the end of the bull market or not, nobody does, and when and if I will see a buying signal I will cover my short and go long. Until then, I stay short.
Mirandole PRO vlad.adrian
But who is kindly buying this shooting star ?
I have no ideea
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