TradingView
DaddySawbucks
Aug 29, 2021 11:52 PM

DJI setup for failure? Short

E-mini Dow ($5) FuturesCBOT

Description

So far above the 200 MDA... 50MDA will serve as first support IMO. When the waterfall cascades, 200MDA should hold.

Comment

Was expecting double top but persistent weakness seems to resist advance above this range; in SDOW.

Trade active

It begins... in SDOW

Trade closed manually

Closed all as it might bounce, bear action weaker on Weds

Comment

Hmm futurz trading down to 20MDA, break below --> Bear

Comment

IMO a bigger bear move is coming, test the 50DMA. See more recent posts!
Comments
Sapphira
Yes.
Mihai_Iacob
Great chart,thanks for sharing
markrivest
Have you done any analysis of the highest point this index has ever reach above its 200 MDA?
DaddySawbucks
@markrivest, It's 11% above now, evry lift above 10% provoked a 10% correction historically.
markrivest
@DaddySawbucks,
Thanks for the information.
DaddySawbucks
@markrivest, YW. Been expecting 36K top but strong resist here, got into SDOW.
unicow
A bear can dream, right? I like the setup!
DaddySawbucks
@unicow, Read this:
unicow
@DaddySawbucks, that's a great idea. thanks for sharing it with me. Also add to his list the debt ceiling debate...
More