A nice move down at the end of last week, with a harami posted on Weds, bearish action with a weak close on Thurs and a gap down on Friday. Notice how price rebounded off the WS1 at the end of the week after being rejected at the Demark R1 on Tuesday. Pivots for next week show an open below the weekly pivot, which matches nicely with the DR1 to make strong...
US equities particularly DJIA, SP500 and NDX appear to be at overbought conditions. DJIA and SP500 reached new heights the past week, the highest since February. My analysis of the DJIA shows that the index has failed to reach the upper resistance line of the price channel that has formed over the last months. On top of this the recent high on the chart is showing...
Watch as they buy this market into the close... They will not go into the weekend on a sour note !
Don't worry, Nothing to see here. The financial "AI" is getting new data sets as we speak. The financial inbreeding will continue at all costs. We the people are just useful idiots.
It's Friday and they will do ANYTHING to prop up the DJI into the close ! Buying Bonds, manipulation of every manner. These markets are Fake !
The move up from last weeks pullback, which went a bit deeper than expected by retracing to the area of the weekly S1, has followed the predicted path up quite closely. Now we are faced with a cluster of pivots and a weekly bullish reversal at 25800. I am looking for a move up to that level in the next few sessions and a strong reaction off it, with a negative...
The move up from last weeks pullback, which went a bit deeper than expected by retracing to the area of the weekly S1, has followed the predicted path up quite closely. Now we are faced with a cluster of pivots and a weekly bullish reversal at 25800. I am looking for a move up to that level in the next few sessions and a strong reaction off it, with a negative...
I don't like being bearish. I'm an optimist by nature and like to see things rising. It also says something about my journey as a trader, as I started investing in 2008, at the feet of the financial crash, so I'm used to buying dips and riding upwards. Yet, I find bear opportunities plentiful in forex - EURUSD, GBPUSD, AUDUSD. I'm also bearish commodities like...
DJIA Dow Jones Industial Average Futures: DJIA1! This was a great short overnight on the break below 25257 line for a fall to the next line at 25094. It fell to this level exactly. Perfect, technically speaking. It should now make a rally attempt back as high as 25245-25257 range at best before it falls away again. This price action would also form a head and...
New pivots for next week show we will open above the weekly pivot, giving a bullish bias for the week ahead. However there is a negative divergence on Stoch and a bearish candle printed on Friday so some chop and a pullback to the weekly pivot before a further rally is my preference. 25800 is the key level to close above this week. August is historically weak and...
My last last posting on the DJI worked out well IF you didn't read my subsequent comments (poop). At the level labeled "d" a small triangle formed which I favored in real time that it meant more down action (wrong). Triangles are a double edged sword. Now we have another one it looks to me. Here is the bearish view. Watch for the break of the 2 hour uptrend line...
New pivots for next week show we will open above the weekly pivot, giving a bullish bias for the week ahead. However there is a negative divergence on Stoch and a bearish candle printed on Friday so some chop and a pullback to the weekly pivot before a further rally is my preference. 25800 is the key level to close above this week. August is historically weak and...
In my previous post, I was short the DJIA, with the expectation of adding at down trending resistance. I did add, but was quickly stopped out. Now price has broken ABOVE the resistance line, and I'm forced into a neutral position. This means I have no conviction either way, and any trades I take will be 1/3 of my full size. I do not want to be one of these...
Smart Money Has exited the Industrials in a big way since the high in January. Last time the SMI was this low the DOW was at 18000, a whole 7,000 points lower... This is never a good sign, but if the market can resolve this symmetrical triangle in a bullish, that money will pour back into the market and push it to new highs. The Red areas marked are likely areas...