After its minor bull, Dow Jones is now at its resistance area and if we take a look at its 4 hour chart we could see the price is forming a head and shoulder pattern. If within several trading days the price break through its support area, there is a probability the index would continue its major bearish trend, and going back to around 18,000 or even lower.
We have entered the Depression! Restaurants are taking the first hit! Multiple locations and franchises are closing everyday! Soon Retail! Automobile! Real Estate! Banks! The reset has started!
So right now investors like Warren Buffet are on the sidelines pissed off that they can't buy low, but they will not FOMO like a bunch of retail investors did to go and chase 12% upside in these troubling times. So I predict SPY is just going to trade sideways before more data comes for dumps in prices until Stocks are cheap Investors will not chase these inflated...
The 200 Moving average is commonly used as an indicator of bull or bear stance by the hedge funds, analysts and investment banks. If price action stays above 200 MA, it is bullish and if below 200 MA, then it is bearish. In this chart, we can see clearly that only Nasdaq is currently above it while DJIA and Russell 2000 are still bearish. SPX500 recently closed...
Mapping the 1929 bear market rally to what we are seeing now, is there some similarities ? There is a resistance at 25,218 which is based on the price action structure. However, many analysts are basing on the popular 200 MA as the next resistance level. That would roughly gives us 26,000. So, here we are at a crucial cross junction where the price action will...
Their is a lot to study here. Ever since our initial breakout we have not seen a retest on the breakout to test for a support. Each impulse has decreased roughly by 7% each push back up. The last wave was a 7% impulse as we reach the level of Resistance. The decrease in buy percentage could represent a correction to come. 24815 is key break level for upside...
Tomorrow unemployment numbers come out and we will Pump 10% probably to get people to FOMO. Sure you can go ahead and do that or you can buy calls till it doesn't work because I don't have any confidence in the market. Right now there are more Puts than Calls on SPY. Until this number decreases I don't see it coming down yet. This now runs purely on speculation...
DOW JONES - GO SHORT @ CMP WITH A SL OF 25080 AND A TARGET OF 15000.
DOW30 is Bullish - We look to Buy at 24350 ▪️ The overnight dip has been bought into and there is scope for further bullish pressure going into this morning. ▪️ A higher correction is expected. ▪️ Previous resistance level of 24550 broken. ▪️ Signals are mixed but remain mildly bullish with a short-term timeframe highlighting an exhaustion count. ▪️ We look...
On the left (and chart below), there is a chance we have a similar situation as a week or 2 ago. Broke up from a flag/triangle but was failing to push through. At the moment it looks as is we have a similar situation now. It's not there yet though, could still push through upwards. So it need's some confirmation first, as i have drawn in the chart below. So if we...
Ascending wedge break to the right of long term upward support with highs being hit at 24150 key area of Resistance to test for an attempt at an upward breakout. 23000 is support area for the current range. Weekly crossover for bullish shift and the ema dots are firing green. But, keep in mind that we don't have a close on the weekly till may 4th. Overall the...
This is a DJI comparison of the Great Depression and the phase that preceded it against the current COVID sell-off and the phase since the DotCom bubble that led to it. ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** As you see both time phases are Megaphone patterns. Both started on high...
The Dow Jones Industrial Average(DJI) ended flat, gaining $39.4(+0.17%) in today’s trading session with a close at $23,515. Price has created two small doji candles over the past two days with today’s doji candle topping out right at the 50% Fibonacci retracement level before price fell back down and closed near the days opening price. A doji is a candle with a...