It’s not the Fed. My perspective is Chairman Powell has been fairly clear in his updates to the markets. The markets simply don’t want to hear any of it. It’s not bonds, or interest rates. Those are trackable and I have posted on the 2yr and 10yr bond yields. Yields are creeping higher and have done so since the October lows. It’s also not corporate...
Raising inclination trend has confirmed on the Dow Jones. What this means is that the rising trend is going up at a higher degree. A normal trend is around 45 degrees. A stronger trend is 60 degrees. and once it starts rallying above 60 degrees this is where GREED kicks in and you should prepare for downside. Also there is a strong Rising Channel which I'm...
Nifty has made a significant recovery after hitting a low of 19223 on August 31, 2023. According to Elliott Wave Theory, the Nifty made its low as Wave iv of Minute Degree Wave {iii} within Wave (i). Until November 2023, Wave (i) of Minute Degree Wave {iii} might drive the index toward 20400-20600. As Wave (ii) of Minute Degree Wave "{iii}," a pullback toward...
The point of view of US30 analysis is that the current trend is still in a bullish state, the bearish that occurs up to Fibo 0.236 is a Swing Correction and there is a possibility that currently there will be bullish continuation
Dow Jones (DJI) held its 1D MA100 as Support and as projected on our analysis last week (see chart below), it formed a Higher Low on the 5-month Channel Up and rebounded: We now move to the 1W time-frame where this week's 1W candle is so far the strongest since July 17 and already recovered the 1D MA50 (red trend-line). After completing the standard -4.70%...
DJIA is about to dip 4-5% from around Tue Aug 1st till Aug 23rd.
Maybe the catalyst higher starts at Jackson Hole and Chairman Powell's speech at 10am? If not that, then the market will move higher because of either a soft, or NO landing recession thesis. As I continue to update my sentiment chart for my followers, these are the current narratives being discussed...but it will not matter to the sentiment chart what the...
Dow Jones is having the strongest pull-back since late May, so far still within the technical boundaries of the 5 month Channel Up. In doing so, it is only a few points before hitting the 1D MA50 (blue trend-line), which has been intact since the July 10 Low. Despite that contact, the index hasn't closed a 1D candle below the 1D MA50 since June 01, which was at...
Today I shared a video in my trading room of Tom Lee on CNBC post his CPI massive rally call which didn't materialize. One member pointed out: " Lol. The man in this interview is not “fearless.” He is having trouble getting it out, and he has concerns. He is impressed by the “pronunciation” of this move. " I share the sentiment chart so we can observe the...
After 3 weeks of being range, it seems us30 can fall towards 33% level, as a retrace for higher probable prices.
I vividly recall a few years back having just finished labeling the above chart of the SP500 from inception. I labeled the chart and included most of the historical events that occurred over the course of that time. As a trader, I wanted to have a quick reference visual picture of price action during war time, innovation, and societal change, juxtaposed on my...
The Dow Jones Industrial Average (DJIA) has given a fresh breakout, rallying above the 35,500 level. The breakout comes after the DJIA has been consolidating in a range for several days. The strong move above 35,000 is a sign of bullish momentum and suggests that the DJIA could continue to rally in the near term. The breakout of the Dow Jones chart is a bullish...
The Dow Jones (DJI) index remains within its 5 month Channel Up pattern that started in mid March and recently hit its top. What the majority of the market is missing is a stronger pattern on the wider 1W time-frame. This long-term chart shows that an Inverse Head and Shoulders (IH&S) pattern priced its Head (bottom) when the Channel Up started and completed the...
Pair : DJI - Dow Jones Description : Completed " 123 " Impulsive Wave Falling Wedge in STF and Rejection from UTL S / R Level Fibonacci Level - 38.20% / 50.00% Divergence - RSI
I have been on Trading View for almost a year now. In that timeframe I have been fortunate enough to have almost 2,600 people who follow my work, shared almost 700 ideas within that community, and founded my website for paying members. Yesterday, we held a training / education Zoom call and dissected the move up off the October low of 3502. The purpose of this...
Trader Sentiment is of the utmost importance as it pertains to price action. The attached is one that will be updated from time to time as my followers can see how the various bullish and bearish sentiment plays into the price action.
I keep watching for indications of trend tiredness, such as an ending diagonal pattern backed by divergence against the RSI, despite the market's persistent ascent. I believe I have located the little wave c that is marked with the numbers 12345 in grey letters. However, I believe that this is not the end and should be followed by wave c of (y) that is larger in...
Dow Jones reached the top of the 4 month Channel Up today just after crossing above Resistance (1). The MA50 (1d) is the first Support of this pattern and has been untouched since July 10th. Trading Plan: 1. Sell on the current market price. Targets: 1. 34450 (expected course of the MA50 1d). Tips: 1. The RSI (1d) is has formed a top pattern, same as April 13th...