Daily Chart Formation – Possible bearish price-RSI divergence Resistance – 18,137, 18,188, 18288 Support – 17,977, 17,914, 17,796 A tinge of risk-off was seen in Europe, courtesy of oil price drop. Though oil has recovered there exists a risk-off fresh drop in case US government data shows a big build up in weekly inventory. In such a case, the...
The $DJIA weekly with HA candles looks very nice. It looks like we might see the turn around the end of April. That is provided the resistance holds. Lets see.
DJIA is expected to RISE now. * It may rise Rise and come near 17958 levels * Stoch RSI (3,3,14,Close) is Rising. * RSI (14,CLOSE) is Rising. * CCI (20,CLOSE) is Rising. Keeping all the above indicators in view along with the chart pattern we expect it to Rise. Our Buy call shall be from Buy above :17801, SL: 17756, Tgt 01: 17909, Tgt. 02: 17958, Tgt. 03:...
Possible bull flag hints at new highs, if overcome supply
If you're going to buy the equity index, buy the Dow. If you're going to short it, short the S&P. This spread makes clear which index will likely do best vs worst. Since I don't have a good hand on direction at the moment, I will trade this spread and go long Dow/short s&p.
Nothing is stopping this market from moving higher. So let's jump on board as the system tells us. The first fractal breakout is about to get hit on the weekly. Unfortunately, there has been no previous signal to get into this trend. We'll see how far it can still run. Risk Management!
YOU CAN TRADE THE EXTREMES OF THE STRUCTURE ANY BREAK AND CLOSE BELOW 2012 IS AN ALERT WE ARE TARGETING THE BALANCE POINT.
DJIA is expected to SINK now. * May SINK and come near 17340 levels * Stoch RSI (3,3,14,Close) is SINKING. * RSI (14,CLOSE) is SINKING. * CCI (20,CLOSE) is SINKING. Keeping all the above indicators in view along with the chart pattern we expect it to SINK. Our SELL call shall be from SELL Below :17458, SL: 17492, TGT 01:17377, TGT 02: 17340, TGT 03: 17225. ...
Today i counted Elliott waves on DJIA chart and for simplicity and better view i convert chart into log scale. In my opinion, this index has been going in uptrend since after great depression in 1930 ends. Economic historian attributed the start of the Great Depression to the sudden devastating collapse of US markets, and afterwards there been a great debate...
Looks like DJIA coming off resistance down to yellow support. Weekly has some work to do yet.
Not sure what this means or if its a sign of things to come but the AUDJPY which have historically been highly correlated are now dramatically diverging. I would say this is a bearish sign as typically drops in the aud/jpy represented a risk off atmosphere.
I am hoping that this is a double top here on the Dow. It is very clearly a range here. It should mean revert back to the flat kijun sen and then maybe overshoot down to test the range support. See if the rejection is confirmed next week.
SPX ENTERING A ZONE OF INFLUENCE... TIME IS CLOSE...3/31- 4/06