🖼 Daily Technical Picture 📈 ➤ S&P500 accelerated higher with full confidence. Gapping up and finishing at the high of the day. All we need now is another 2% more! ➤ Why 2%? It's simple. For most Investors, that would take their 2023 returns to around 5-10%. The current interest rate is around 4-5% pa. All you need to do is exit equities and stick all the money...
Keep eye on intraday $DJI volume 2c how we're doing So far NO anomalies showing trouble for this run Great Inverse Head Shoulder pattern going Monthly Averages DIDN'T crossover = VERY good Barring something crazy, $DJIA may have enough for 1 - 2 year move $UDOW $DIA #stocks
🖼 Daily Technical Picture 📈 ➤ S&P500 reversed yesterday's price action. The excitement is building and it's not because of the inflation data. ➤ Wyckoffians will know what I'm talking about. The recent price action post break out of the small consolidation phase over the last couple of weeks is a classic looking Bullish/Accumulation pattern. It's almost textbook...
Dow Jones closed Friday clearly above the 1D MA50 (blue), switching its 1D technicals back to neutral/ bullish (RSI = 54.657, MACD = 2.080, ADX = 14.593). Following the Golden Cross on December 14h, the index is well supporting both on the former Lower Highs Resistance of the Bear Market as well as a Higher Lows line that started on the June 17th Low. The latter...
The Dow Jones Industrial Average (DJI) has been holding the 1W MA50 (blue trend-line) as Support, closing all weekly candles above it since November 07 2022. This on its own is a major bullish pattern, but if we look on a much long-term, decade long perspective, we can see an even higher significance it historically has on the price action. As you see on this 1W...
🖼 Daily Technical Picture 📈 ➤ S&P500 tried and failed to break the 390 level. It was a thing of beauty if you were a neutral or positioned short. If you were long...🤬🤯🤦♀️ ➤ All is not lost. The price did not break back into the consolidation (blue rectangle). The Bulls should still be favoured. It is usual for the price to retrace the break out to test that the...
🚨🚨🚨🚨🚨🚨🚨 Not sure how this was missed!😱 $DJI looks VERY VERY VERY good Went FULL BULL late Sept/early Oct Mid Nov went neutral to short term bear Mid December turned cautious bull NOW GOOD signs that September was BOTTOM! - This is daily & weekly Inverse head & shoulder pattern = 1 of the best bottom forming patterns IF right shoulder forms here = HUGE We've...
Copy post & continuation from posts not done here Letting trades sit for moment Called #risk coming, $NDX vs $DJI #NDX almost 4x the performance today NOT SAYING it's "over" but risk reward = GREAT #Bullish For Friday volume was GOOD Overall buying coming in last few days Still like value but have lots of $TQQQ #stocks Hard to post all we write here, sorry!
🖼 Daily Technical Picture 📈 ➤ S&P500 marched higher to finish above the consolidation phase that I have mentioned in previous posts. The real test is if the price can hold above the breakout. ➤ In order to do so, the Bulls will need to overcome the first hurdle at the 390 level on the SPY. This is not the strongest of hurdles. Price has sliced through this level...
Hello Friends. Unfortunately, the final way down did not wait A big player closed his short position and got a new one in the range of 32800-33200. Yesterday before the close of trading fixed the volume impulse in the market, which finally signaled a trend reversal Forced to close the Short position at -2.57% from 32840. Opened Long from 33680 From 06.01.2023...
The tight range serves for alot of stop losses above and under both these key levels. One side will get taken first, and probably serve as a trap, after which we see a reversal to the actual direction. (my bias is currently to the downside as the final direction due to fundamentals and broader trend(s)) Although I by no means recommend trading off my bias or...
Old target 3392 (pre-Covid high) is in play by EoY/1st week of Jan '23
🖼 Daily Technical Picture 📈 ➤ S&P500 gapped lower and did not recover. It finished the day sitting on the support level. Price is clearly boxed in a consolidation phase as illustrated. ➤ Exponents of Elliott Wave Theory could interpret the current price action in two ways. In the Bullish case, price is developing an ABC corrective pattern after the 5 wave...
🖼 Daily Technical Picture 📈 ➤ Once more optimism helped equities start higher in morning trade. Not surprisingly, that enthusiasm waned again as price filled the opening gap by falling back to the support level. The difference today was that the price recovered to close the day above the opening. ➤ Given the strength, I have taken this opportunity to open my...
The Dow Jones Industrial Average (DJI) remains within the medium-term Triangle pattern that is trading since December 16 and broke today above both the 1D MA50 (blue trend-line) and 4H MA100 (green trend-line). The two have formed a Bearish Cross and the last two times this pattern emerged was on September 12 and May 04, both Lower High rejections that led to new...
🖼 Daily Technical Picture 📈 ➤ First day of US trading in the New Year displayed the same volatility as we have come to enjoy/get used to. A firm positive start filled with promise faltered to finish in the red. I hate to repeat it, but once again the support level held. ➤ A break up or down from this small consolidation/sideways market since mid-December should...
🖼 Daily Technical Picture 📈 ➤ S&P500 is still holding the support level. The longer this goes on, the more favourable it is for the Bears. Without a notable bounce after the steep sell-off since the December high, this shows that Bulls have little conviction to push prices higher. ➤ Still, it is a new year and historically January is a positive month due to the...
The Dow Jones Industrial Average (DJI) has been stuck within a Triangle pattern (dashed lines) since it hit and bounced on the 1D MA200 (orange trend-line) on December 20 but has a clear rejection on the 4H MA100 (green trend-line), which is the short-term Resistance. At the same time we can also see that the 1D MA300 (yellow trend-line) has also resumed its old...