At the moment we can see a similar shape double top as the one i showed back in Sept. Eventually it was the ATH so it was a bit lucky on that part. So doesn't mean the same will happen again now, but who knows.
So doesn't mean we crash hard, but we can always keep a part. Stop above the high, would do half now and half at break neckline. Above neckline very it's...
Ouch, ouch - Traditional Markets are bleeding Tuesday. Dow Jones, Nasdaq, SPX and Russell down 3-5 %! Worst day in a month.
FAANG Stocks (Facebook, Apple, Amazon, Netflix and Google) dizzy too. FB the least, but maybe not a surprise after Marc Zuckerberg's hearings in the senate in July, which has made FB Stocks fall like a knife.
So we have seen the market reacted positively on the 3rd quarter - US Grew 3.5 % - GDP reports mostly a look in the rear mirror instead of the road ahead. The economy exploded in the spring and summer, propelled by tax cuts, strong consumer spending and rapid business investment.
But, but, but... All that sounds good right? Nah, it might sound counter intuitive...
The S&P 500 Index has been a bit hard to read for beginners as the charts are giving bearish signals yet it continued to move up and break above certain strong resistance levels. As for The Dow Jones Industrial Average Index (DJI), this one is telling us a different story, this chart is much easier to read.
When you look at the chart, you can clearly see lower...
Re-iterating what was said in the video; all of the optimisation logic existed except the plot functions were only using one of the two outputs meaning that the SuperTrend AI was only half as good as it could be (yet still way better than without the machine learning function.)
Now, an additional layer has been added which should have already existed.
This analysis is purely written from an Elliot Wave perspective. There are no macroeconomics or any other economic theories involved.
Looking at Monthly SPY, we had the completion of wave 1 in 2000. Followed by a recession in 2001-2002. We then had a pullback to the 2000 high, which then ended up double topping and then falling to lows in 2008. This is a...
Long 26120 Executed, SL 26090, target: 26270, watch 26220 retreat to move SL to BE or maybe book some profits.
Next: Short 26270 with 2630x SL target the wave fibo levels of it gets there and price actions show rejections around 26270-26300 zone.
Trade at your own risk! Don’t trade money you cannot afford to lose. Trade safely.
DJI - TA ANALYSIS - 'A perfect storm'
US NATIONAL DEBT - $22 TRILLION
GLOBAL DEBT - $244 TRILLION
"World economy at risk of another financial crash," says IMF
IMF warns storm clouds are gathering for next financial crisis
Two recession warning signs are here - CNN
The next financial crisis: Why it is looking like history may repeat itself - CNBC
The Dow Jones Industrial Average Index (DJI) is getting closer to a strong drop.
Last time we looked at divergence, the same as with the S&P 500 Index as these charts are almost identical. Today we will be looking at a double top formation plus the same signals we saw on the SPX MACD.
Let's get started... Perhaps you want to hit LIKE now before moving on......
Dow Chemical has been in a bullish trend since 2009. It has been in a narrower bullish trend since January 2016. On a few occasions through this trend, three of the technical indicators discussed below are at similar levels that they are at now. These instances have resulted in short-term losses for the stock. I have also conducted further analysis based on other...