octradr

QUICK DOW TREND

INDEX:DOWI   DOW Industrials
127 10 2
This is just a quick analysis of the DOW. All dashed lines are support with the rising support being the weakest. It is very common for the DOW to dip a few percent below these supports before rebounding. Let me know what you think.

9/25 After close
Good day today. Rising support line is no longer valid. 16333 is now support.
10/23 after close
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Another big down day but it may have found support around 16k. Still best to watch how this plays out. 10/15
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It blew through the weak support and rushed down to the strong support today. Tomorrow will be an extremely significant day. Let's see what it brings. 10/13
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It made it to it's weakest rising support line. Let's see if this holds or if it will continue down to the 16333 level. 10/10 after close
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TheAnalyst octradr
We need a few more bars to go through before we can make any sort of real prediction about long term behavior. Wildly speculative intraday trading has resulted in high velocity whipsaw. These fluctuations do not accurately reflect the strength of the underlying assets.
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octradr TheAnalyst
Long term is still up and right now the market is in the bargain bin. Our underlying fear of losing money and possible trend reversal is what keeps us from taking advantage of this. That being said, the safe play is to wait for confirmation that the trend up is still in play. I would say that confirmation is when the 8 day EMA crosses the 15 on the daily. Once this occurs l would put my investments back into the market. 10/11
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octradr octradr
Just an update... Turned bullish on 10/27 with the EMA's crossing. It closed out that day at 16817. Now would be a good time to begin to get back into the market but not fully. Strong support is around 16400. 10/29 B4 close 16975
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Very strong day today. Let's see how if it can hold. 10/8 after close
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octradr octradr
Definitely didn't hold. 10/9 B4 close
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I predict a pullback to 16580 with lateral movement. I think that we will see renewed strength 2nd or 3rd quarter based on improving US job prospects.
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