Pattern: Inverse Head and Shoulders on 4H.
Signal: Buy as the price is close to completing the Right Shoulder and is on the 0.382 Fibonacci retracement level.
Target: 34700 which is the 0.786 Fibonacci retracement level just below the Lower Highs...
It seems a timely choice to update the dollar chart. Extending the characteristic positioning in the previous euro chart, seems to me to be more in accordance with the needs of 93.75 - 94.00 holding and acting as a reliable guardian for the remainder of August and September, but the threat to an attack higher is real.
Dow Jones is trading within a Channel Up that reached today its Higher Lows trend-line (bottom). But perhaps the most important development is that in doing so, it hit the 1D MA200 (orange trend-line) for the first time since October 30 2020 (the U.S. elections)! That alone is a strong buy signal itself but consider also the following:
* The RSI bounced on the...
With the bears remaining strong, we adapted our expectations and foresee a decline until somewhere close to around 34035 points. After establishing a low there, the Dow Jones should gain strength again and surpass the resistance at 35547 points.
Who is a good boy? The Dow Jones is! Here, the top was perfectly hit and the following correction also evolves as planned – so far. We expect the course to drop below 34034 points and then attack new all-time highs.
Dow Jones is trading within a Channel Up that has recently broken below the 1D MA100 (green trend-line). This is the first time in two months that is giving the first strong buy signals:
* The RSI is near the 30.000 level which has marked price bottoms on June 18 2021, October 29 2020 (in the post COVID crash era).
* The price is approaching the 1D MA200 (orange...
Markets are strong and the outlook currently is very bullish. So anyone who thinks that markts will drop significantly in the mid to long term would be laughed at right?
But i just cant help but notice that markets are way too high at the moment. everything seems pretty over valued - although market analysts will say the valuations are just about at the right...
$VIX - Key Levels and Analysis - Another View - Daily Timeframe
I posted a VIX study earlier today on the 1W timeframe (it’s the post directly before this)
Now bringing it down to the Daily chart - another bearish MA crossover. Always a deep spike when these averages cross. YIKES…
I hate being THIS bearish… but I do not think is is good.
Dow Jones Industrial creates a double bottom and forms a long-term price channel in H4. The Index also completed a five-wave pullback sequence to the downside and could head back up if it holds above 33920
The Dow Jones Industrial Average (DJIA / Wall Street) finished the month of September trading down -4.3%, its largest 1-month decline of the year and more than twice the -2.0% drop that it saw in January.
So where does that leave the most popular US index?
In a word: Adrift .
After rising consistently from last November through this September, the Dow has now...
The DOW hit all time highs last month and since then has been consolidating its gains. More importantly, the index broke the ascending trend line from the Covid lows back in June. However, the index didn't turn bearish at that point, we grinding higher and consolidated all summer. Today, the Index is parked on another ascending trend line since February 2021....
The Dow Jones has a hard time pushing for an offensive to overcome the resistance at 35547 points. However, sooner or later we see the course moving above that resistance and gradually build up new all-time highs until the area around 37607 points is reached.
Good times coming!
tracking all 3 major indices priced in gold, we can start to speculate where the dip could happen. dow to gold seems to be the worst of the three, possible dragged by energy and financials. Markings show a negative divergence in rsi vs the price action. Of course speculation on reversals is stupid and risky, but I still enjoy this hobby :D