In Addition if we add a Regression Channel these channel indicates us a long Position, cause Channel is going higher.
We have to check on Monday at end of the day whether that continous or not so adjust the Position maybe.
Another strong week, once again we didn't drop below the weekly pivot so bullish all week.
We had a weekly close above the monthly R1= bullish.
YR1P is at 26284, however it is in a low volume node and price could use quickly through to 26400, which was last years R1 pivot.
Volume profile showing nice positive skew and still building value higher. The profile...
100pt renko chart with support and resistance zones highlighted. Clear up to 26100 and then 26600. Don't short until you at least see some red on the daily renko!!
In the late 1937 after the great depression huge money printing have happened in order to stimulate the economy... Many successful investors and portfolio managers have mentioned that we have been in the last cycle of the business cycle ! According to one of the most successful money managers Ray Dalio we have been in a similar perdion as the late 30s period....
The chart for the Dow Jones (DJI) is basically the same one as the S&P 500 (SPX). So needless to say, this one will crash as well.
My long term analysis for DJI is still valid, you can see it here:
This new crash that is incoming is just an extension of the one I mentioned above.
Looking at the chart:
We have bearish divergence showing up on the MACD...
these levels on the daily chart i have drawn out are levels i have across the dow30/nasdaq/us500 indexes. with price where its at now,
short term income day trades and swing positions are available at these locations.
If we do break higher then i will be bullish till we hit our next supply levels at 2888 area and 2925 area
cheers
Retail Sales posted abysmal numbers
National Emergency declared
S&P500 due for a reversal
China U.S relations worst in recent memory with the arrest of Huawei CFO
U.S. industrial production fell in January for the first time in eight months
Something has to give. I'm using some intuition with this trade, just have a good feeling about it, especially considering...
The DJI is in a very strong uptrend and on the way to its target level around previous highs.
The first target is 25975 and second potential target is 26160.
It is estimated to retrace to a lower level after reaching the targets.
Watching for the short. RSI and the pivot points are the key indicators that stick out to me. They arrested the CFO of Huawei, one of the biggest telecom companies in the world. Not a minor event. May seem like old news to us, but in China, it's still fresh in their memory. I don't expect these trade talks to go well.
Normally i just analysis HSI,
but someone asking me what is your idea in DJI ,
so, i try to analysis in Elliott wave
the bear market is start from 26, jan, 2018, as my chart
it is 3-3-5 Flat Correction wave and the Wave = Wave 1.618 , and the bear market is gone, is back to Bull market now
Back in October 2018 I shared a chart for SPX mentioning that it would crash, the signals were pretty straight forward and I was surprised to see how easy it is to predict movements of these conventional assets.
The crash followed as predicted. You can see it here:
Now, I am seeing the same signals that alerted me of the previews crash; here they are:
...
Apple Inc. (APPL) and basically, most of the conventional market will crash really soon (according to the signals and patterns that I seeing coming from the charts).
This is a friendly warning to all of my amazing supporters.
(I LOVE YOU... THANKS A LOT FOR YOUR CONTINUED SUPPORT)
It will be interesting to see what effect this has on cryptocurrency.
Will...
The chart for the Dow Jones (DJI) is basically the same one as the S&P 500 (SPX). So needless to say, this one will crash as well.
My long term analysis for DJI is still valid, you can see it here:
This new crash that is incoming is just an extension of the one I mentioned above.
Looking at the chart:
We have bearish divergence showing up on the MACD...
Inside month and a break to the upside, which after a small retest back into the range has rallied strongly for full timeframe continuity. Buy signal was at 25109. Bad idea to short until a reversal signal appears.
Strong uptrend, another green brick in the process of being added too. Why would you short something that looks like that? Refer to Renko charts every few days and after good sized moves to keep you on the straight and narrow.
Look at the gains you would have made by going long on the first sight of a red or green brick....
