Stable - A word of the past. I am strictly a pattern trader and for the last few years I personally have always done best recognizing when things goes south. This probably has to do with the emotional sell-offs leading to more accurate patterns. It is scary how perfectly this current DJIA chart matches the bear market of 2000 - 2003. If you take a look at DJIA...
Detail @ The Chart
Doesn't look very bullish for the DJIA, strong rejection from the 23621 + 200ema today. Sub 20k possible with a bottom building around 16-18k. Expect a swift return to ATH afterwards.
DJI is about to drop to 20K or so by the 1st week of May and then will hit ATH by Trump's inauguration.
If the 5th Elliott wave represents the historical all time high of the Dow Jones bull market for more than 100 years, then it is possible that the stock market entered a historical bear market. The only confirmation for this scenario is the Dow should decisively break the lower trend line of the channel and sustain trading below 19500. Currently we may see some...
Correlation : DJIA chart overlaid to Gold ....You would notice that most of time in year 2008 Gold & DJIA were moving in same direction! Again gold will rise when market "crash"?! ...you were wrong! Gold only rise when "banking" system "collapse"! So..when & Why "banking" system collapse!? Answer : When lot of lot people losing jobs and cant pay the mortgage...
Confluence of horizontal and bearish wedge resistance, coupled with diminishing volume and MACD divergence. We opine that the market has priced in stimulus and COVID recovery data and will be focusing on economic fundamentals. We will look to buy only on retracements. Exercise due diligence!
After a ruthless and cunning retrace from politicians and central bank talking heads, this piercing rally is coming to an end after reaching the full retrace target at 1250. Buyers, who would like to occupy the jurisdiction above have tried to do so in a crafty way (since the typical path looks out of the question as long as the world remains in lockdown); they...
Looks like the stock market is back in the crazy mode again from before the crash. Things are getting worse each day, which the market then translates that the worst is probably behind us and because the stock market always gets ahead of things, many might think they are missing the boat here. Now the problem with the stock market is, past 1/1.5 years or so,...
Thursday i posted a few updates on the Dow and Bitcoin after a few weeks of absence in my Bitcoin analysis. I talked thinking that the stock market rally has come to an end. So far that has played out. At the moment we are at a big support zone around 23200, which has been holding so far. On the left we can see that big bearish wedge. Now ideally we get to see an...