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
Hello everyone who is watching my charts.
Here is the update to the end of today's DJI trading day
The situation remains unchanged.
What should we pay attention to on Monday?
We now have 2 long trend lines
the one in the steep Long channel I have marked blue.
But I'm afraid this steep uptrend will not last long.
But below that we have an interesting 2nd...
Now we have an interesting sign here.
DJI has break ot of the short channel (i have marked them in red)
and comes bak to our well known blue trendline from 11.3.2019
Thats a really strong sign.
DJI managed not only to go sideways out .
Strong up and trading along the long line in blue.
I exspected now higher prices
Also to notice
We have taken out the...
In the opposite direction to the Nasdaq situation we have here now the DJI.
DJI is still caught in the bigger short channel i have marked in red lines.
He tried to go out at end of yesterday and start of todays trading but
the outbreak failed.
Now the upper line (i have matrked the channel in red lines)
is the important resistance line for the ext trading...
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 turned bearish yesterday, indicating that a meaningful top could be in place at 24860 levels, but be prepared for yet another high around 25100 levels as well. Kindly note that a major price resistance is seen at 26000 levels, which is potential Wave (2) termination as labelled on the chart view here, and prices should ideally stay below that, to...
The Dow Jones hits fibonacci resistance at confluence around 24000 levels. It could just be a matter of time, before bears take control back and continue lower, as Wave iii progresses. Believe it or not, the wave counts are clear as highlighted here, and a potential higher degree Wave (3) has been unfolding since the 26000 levels. Furthermore, a lower degree wave...
The Dow Jones inched higher to 24000 levels yesterday before closing at 23879 levels in the spot segment. If the earlier wave counts discussed were correct, the Wave iv projection stands invalid for now since prices penetrated Wave i termination at 23881 levels. As discussed yesterday, the structure still continues to remain bearish and in fact a lower degree wave...
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 seen carving out Wave iv at a lower degree with Wave (3) as labelled on the daily chart view here. Believe it or not, the rally on Friday which saw Dow Jones closing on a higher note at 23430 levels, should not be considered as a change in trend. It could still be carving out a wave iv, as a potential zigzag and resume lower anytime soon. If the...
The Dow Jones produced an intraday rally towards 23327 levels yesterday but it still remains vulnerable to turn lower one more time and print below 21400 levels. Looking at the wave counts, the Dow Jones seems to have completed Waves (1) and (2) at 24120 and 26000 levels respectively. Since then Wave (3) has been in progress lower and has produced 4 waves. The 4th...
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
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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.