I have a solution. Use the moving average 50 period low. Check the 4h chart on US30. Insert a 50 period moving average low. Insert support and resistance lines. You will notice a couple of things, at the end of the last equity rally, it was profitable to short the market EVERY TIME once the price CLOSED below the 50MA. In other words you couldn't go wrong...
The Dow Jones Transports index is considered a good indicator of what the next move will be affecting the wider market. The reason for this is because transports are a good indication of economic health. Lower patronage and goods moving means lower economic activity. A few notes about the chart. The orange line is the DJ30. 1. Looking at the first green flag in...
Yesterday the Dow Jones Index $DJIA $DIA found support right on the YearlyS1 Pivot point. This was the spot to cover remaining shorts and look for new short term long opportunities. That is what one of the Pivots we use at PivotalPivots.com
Dow made 3 waves retracement into 50/76% retracement level of the down move from 17881 highs. Expecting a reaction lower into 17400 area
1- SPX500 and DJ30 Both Making 3rd Mountain on Daily Charts. 2- RSI Getting Extremely negative on all Intervals. 3- High Volume on Supply Days. 4- Interest Rate Decision - (If Rises then will eat half QE3, If remains same then will make Concerns about Recovery) 5- Manufacturing Hits 6 Year Low. 6- India's Nifty Index Already at 24-Aug level (One of Strongest...
1. Bat Pattern completed on 3-Nov, Went Down After that but again bounced back. 2. Bearish Divergence in Daily, Weekly and Monthly Charts. 3. FED meeting in December, Consumer Confidence & GDP Data on 24-Nov Employment on 4 Dec, Stocks tend to fall 20 days Prior to FED meeting (Just an Observation). Scenario 1 - S&P will hit 20 Degree Slope @ 2100 and...
Hey fellows, I actually do not trade the DowJones30 but I like I found during my sundays market studies some nice patterns. In the orange box you will find a potential Reversal Zone which is conveyed by three facts: 1. Close to upper Trend resistance line of Trend channel 2. AB=CD pattern 3. Last but not least a bearish BAT, although I do not have a lot of...
Just one traders opinion on what's to come. Remember, traders don't get paid on opinions. Have a bias, but never be afraid to change it if the market shows you you're wrong.
We are now in unfamiliar territory. The MACD technical indicator Moving averages has crossed over above 120 points 22 times since 2003. Of those, 22 times, 19 of them led to at least a mild pullback within a month. 3 times it moved sideways or down where no money could have been made at all within one month. The MACD has crossed over 200 points 6 times...
Here is my logic: 1. Fundamentals don't support record highs. High stock prices don't represent real economic activity. Unemployment. situation still not pre-crises levels yet prices are way above that. 2. Oil showing lack of demand. 3. US dollar becoming more expensive. End of low exchange rate. 4. China weakening as well as imports. 5. End of easy money and fed...