The Dow Jones hit historical maximums. I believe this is just a bull trap and a big fall is on the cards.
We see on the chart a big RSI divergence and the price printed somewhat of a doji just before season earnings started. Also MACD (not in picture) confirms the bearish momentum. It has been reported that earnings this quarter are going to be pretty bad and...
Hello to all watching my charts.
Here is the Dow Jones DJI in a 1 HR in my chartsystem
with channel trading.
At the moment we are long and we will check on monday
whether these channel will continue to give further up the direction
or if the index will fall out or make a break out.
Whats very interesting is that same channel in the past has function
DJI is now rading in he new short trendchannel
i have marked them with red lines.
These channel is split in a smaller more shorter range
i have marked ht upper line of that part of channel in purple and the its own lower side , marked in red.
So in a few words:
Between the lower red and the purple line
has been the shortest range.
1 Time Buyers have tried to...
As i wrote in the chart
the resistance line at 25880 (nearly) is to beat for long.
For today the bulls havent had enough power to kill it.
That seems to be at the moment that situation is still short
but we have a chance for a long change if that resistance will be took out from the market.
On the other hand if the next days the come back above this line...
The Dow Jones managed to rally and close higher yesterday, making intraday highs at 23675 levels. It seems that the corrective rally (3 waves) that began from 21800 levels earlier might have terminated at 23675 levels, just ahead of 24000 as discussed earlier. We could still label this lower top as a potential Wave iv termination, and until prices remain below...
The Dow Jones is progressing well into its Wave (3) at a higher degree as labelled here. Within the 3rd wave, a lower degree wave iv was unfolding last week and we had discussed the possibility of its termination around 23200/300 levels. Last Friday, Dow Jones managed to hit 23365 levels intraday and closed around 23000 levels as seen on the chart displayed here....
DJI (DOW JONES) should be retracing to Fibonacci retracement level of 0.618 as per the blue arrow.
Also Stoch RSI is going is also on the up
See previous analysis
PLEASE LIKE, COMMENTS AND FOLLOW FOR MORE
There is a negative divergence for the RSI; also it seems to form a head and shoulders pattern. There is quite a probability that monthly candle might form an engulfing bear, if you see that, it is a good sign of entrance to bear market.
Sometimes there are topside breakouts on broadening tops, when this occurs a parabolic spike almost always follows... If today is a one day reversal and the Dow blows through the top, here is my short term price target on the move.
After breaking the symmetrical triangle last Friday, the DJIA's run to 26500 looks likely.
I expect a very good next two week; starting with a price target this week of 26000, and 26500 next week. It is fair to say that the Dow could face a lot of pressure from its January high. Therefore I believe that the price will be dancing between 265-266 for a week before...
Just wanted to pull this simple analysis on DJI (Dow Jones Industrial Average)
We had an impulse and a corrective structure, I am sure we can get a brakeout soon, watch for that and then go long for a short term trade.
Simplemente compartir este analisis en DJI (Índice Down Jones)
Tuvimos un impulso y una corrección. Estoy seguro...