Appears to be at the upper end of the range. The probability for a drop is higher imo unless it crosses the upper line.
I believe that the FED and U.S. Treasury are doing pretty good to support economy with their moves. However, I made a very simple observation on what DJ path might be in case economic and Covid scenarios get worse. I based my observation on a series of increasing tops(1,2,3) started after the March crash and not followed by another absolute top(4). This could be...
DJI might have some percent upside, but the market is starting to show weakness. This recession is just starting. Here is a shorting idea.
TRADE PLAN FOR 18/5/20( MONDAY) 1. The chart I am showing is the daily chart of DJI . Here currently dow is in local distribution phase , where last leg of upwards move is going on. In fact intermediate corrective structure last leg. 2. This is irregular corrective pattern whose last leg is expected to go in red dotted upper micro zone . This the point where...
Wallstreet is dancing against all odds and its time to make some small profits in day trading tonight. Make sure to check my next idea for the closing trade.
See chart and risk to reward for details...
The Dow Jones Industrial Average has created a potential head and shoulders pattern below the key bearish gap as a possible resistance area. The neckline drawn through the recent bottoms has been broken. This may open the way to the textbook target located at 21795 pts. Only a move above the mentioned line or above 24412 pts. may cancel the current bearish...
I think CURRENCYCOM:US30 Index is facing a key level at around 24400 (Green Line) .As long as we don't close significantly , in an upcoming day , above the green line and break above the black line above it , I don't think there would be a reason to believe in a real bullish continuation and recovery of the DOW JONES .Price could try to break the green line by...
It is a little hard to lay down a road-map for the US Indices given the uncertainties surrounding the whole coronavirus situation, therefore best to break it down piece by piece - week by week. A little hard to try and guess what will happen in a more longer term horizon. For now I see a short opportunity as we complete a 1-5 | A-B-C Cycle. Hypothetical...
Stock bulls point to a gradual recovery in the economy and consumer spending, and any resumption of index sales will be mixed by rotating the sector to conventional defense sectors and technologies. Add to that the willingness of the US government to provide additional impetus and the resumption of trade talks between the United States and China. The bears...
Possible head and shoulders forming on the Dow.. Looking very interesting at the moment. Are we due for the next leg down to revisit the lows? Scalping the US30 has been profitable last few weeks.. Continuing to monitor this index moving forward.. Also, Bitcoin halving? Let's go.. -- MNLZ
Think like a billionaire. Right now it's either 10 year bond or the S&P500. The 10 year treasury rate is a measly 0.63% and most billionaires are already heavy in bonds, and right now the market is over hedged (puts). That Economist article opened my eyes. Why wouldn't you just buy SPY and risk some capital when bonds are so low. Everyone is already a bear and...
Follow up on the previous analysis. I did a few updates in my public channel and will continue here as well. It looks like an decisive moment here today, could give a premature answer to what the weekly close will be. In the middle we can see that trend line broke, but we didn't drop or rally. Now it seems we are moving inside of that blue channel, same thing...