As we all clearly feel these days, the markets are knee-deep in a phase of correction. We know, this can be alarming, but never fear! There is hope for rescue! It’s a bird! It’s a plane! It’s Superman! Like Superman rushes down to catch his crush Lois Lane in free fall, Dow Jones has rushed down into the orange-colored zone between 33518 and 32614 points. And just...
Kept it nice and simple, but these retracement fibs line up scary good for the DJI to peak somewhere shy of 37,000, at which point I would expect a major correction. Risk off/Strong dollar? Turned a few trendlines into a rising wedge to top it off.
In this 5 minute update: * I want to leave traders with a more optimistic perspective. In the last video update, I failed to point out all of the positive indicators that I am seeing in the market. I review all the support levels that have been found on the indexes and crypto leaders.
In this video: * Further review of the current broader market price action and potential rollover * How this data correlates with crypto and how it could give crypto some time to stay afloat or even de-couple from the broader markets * Time frame of market rollover * Is the DOW forming a Head and Shoulders pattern? * A look at Bitcoin and Ethereum price action...
DJIA hit the 1W MA50 (red trend-line) for the first time since November 02 2020 and the U.S. elections. At the time, this was the final bottom of the post COVID Channel Up, the index never saw this level again and the strong 2021 rally started. Besides the 1W MA50, Dow also made a direct hit on the Higher Lows (bottom) trend-line of the long-term Channel Up that...
Comparing these 4 major indices, you can see clearly that Nasdaq index is the one with the strongest retracement to date. We can see the SPX500 , DJIA and Russell are showing signs of fatigue and probably the price action will consolidate for a while here before we see the next action. If based purely on stock market being a leading indicator of the economy,...
a repeat of the previously posted chart. Not a trading setup as the pattern is incomplete.
The big picture for DJI is getting more clear and potential trading opportunities are staggering. Developments over the past few years can be charted as WXY sequence of corrective waves. That is likely to be wave 1 of a gigantic ending diagonal. Even more bigger picture is coming in next posts.
DJI offers a very interesting perspective that suggests that I should consider reviewing SP500 and Nasdaq charts posted earlier. The price seems to have not finished the uptrend, and the coming decline is wave 4 of ending diagonal 5.
and let it be said that if it hasn't topped as of right this moment...it is FREAKING CLOSE... like sooo close. I can feel it in my bones. The dollar is blowing up. Fed is tightening (so far) They may reverse course and print infinity but that would cause a currency crisis which in my opinion would be wayyyy WORSE. Crypto and other momentum assets are dropping like...
Hello traders, DJI in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe. In this index, only the main 1 and 2 waves are formed and from the 3rd wave, the 1, 2, 3 and 4 microwaves have ended and are now inside the 5th wave. Wave 4 of wave 3 consists of three waves, two of which are...
Everything went according to plan since my last update on Dow Jones as we accurately caught the December 20 bottom and today the 37000 target has been almost hit, so it might be a could idea to book medium-term profits: I have to update our outlook now as a new pattern may emerge as per the late 2020 price action. That is an Accumulation Cylinder (as per...
A study of time cycles indicate based on recent history that a rise may halt at a break below 36550-36600 and may dip to channel bottom and may be a little undercut. It is expected to retry the range around 13 Jan 2022 and a sustain above the top of the range may increase the volatility and target band up to 37200 and 38000
US30 is showing strong resistance on the red trendline. I see a double top, & a perfect RSI divergence. Might try to push up to $36,700 and bleed. Trade at your own risk, not financial advice.
Hello traders, DJI in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe. In the wave count that has been done. The main waves 1 and 2 are complete. As we said in the previous analysis, it is possible that the main wave 3 is not over and we are in the wave 4 of the 3rd wave. From wave 3,...
Hello traders, DJI in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe. The wave count we did did not have a natural form and was based only on the slope of the waves In this count, waves 1 and 2 are perfect in our opinion. But we can not be sure of the end of wave 3 and we can guess...
It is currently not really easy for the Dow Jones. The bears are bothering the course. However, we expect the course to rise again and surge past the resistance at 36446 points. If the course falls below 33928 points, we will see another round of corrections. Got all your gifts already?