Price action on the DJI (Dow Jones Industrial) and several other markets have flagged the potential for a contrarian setup (favourble for bulls). The Dow Jones has seen a relatively deep pullback against the rally from the June low, and there has been two false breaks of trend support over the past two sessions. Furthermore, a bullish engulfing candle formed...
The Dow Jones Index (DJI) is on its 7th straight day below the 1D MA50 (blue trend-line) having fallen almost -10% since its August 16 High caused by the strong rejection on the 1D MA300 (yellow trend-line). The price has hit today the Higher Lows trend-line that started on the June 17 Low and had one more contact on July 14. This is the only Support level that...
Stocks broke through relative lows at 3909 as anticipated. We gave up the 3900 handle entirely, and broke down into the 3800's, but found immediate support at 3887. We are testing 3909 from below at the time of this writing but the S&P 500 looks pretty weak. The Kovach OBV is on a steady downward decline, and we keep breaking levels from below. We should have...
Bullish run in a bearish market? Or Berish market is over? RSI is overbought and every time we got this indicator we saw a run down. What do you think? Just an idea.
Stocks opened the APAC session weak (as expected). The markets appear to still be pricing in the recession and the results of the FOMC September 21. We aren't likely to get much of a break in stocks until after this rate hike, which some conjecture might be the last . The S&P 500 saw support from 3909, which was an auspicious level corresponding to a July low....
personally i believe dow little will go down but will go up after some zigzag above green aroow after PINBAR comes on 1 hour or 4hour or daily chart we must pick buy and hold it to new high be careful stand on fix low size good luck
You don't see just how highly priced McDonald's still is unless you look at it on the Monthly: I mean, this is the place that sells faux-food while CPI and PPI are through the roof, and it's still trading almost at its all time high. This is even more ridiculous than the positioning of Apple AAPL: Apple AAPL - Looks Fine on the Outside, but Tastes Weird ...
US30USD YM1! DOW 2022 SEP 05 Week Last week's short on retracement/channel rejection was good. Temporary support at the moment at 31221. Possible scenarios: 1) Long at 31221 / dotted trend line support 2) Short on rejection of solid trend line / 32029 / 31221 / retracement on low volume Price reaction levels Short on Test and Reject | Long on Test and...
DJ:DJI Market tested trend line to many times if break down and sustain below 31150 then next tgt ispossible 30200..😎😎😎😎
It is somewhat ironic that an eight minute Powell speech in front of a wood panel wall with a variety of vacuous, yet "hawkish," narratives is the catalyst for the market to begin to rightly seek new lows. Perhaps if they had hiked rates 200 bps we would have seen a 4,600 SPX print "because reasons." I've heard some say that the currency of central bankers is...
I've made many comparisons of Dow Jones' (DJI) 2022 Bearish Price Action with past Bear Cycles but being near closing its 3rd straight red 1W (weekly) candle since the August 15 rejection on the 1W MA50 (blue trend-line), it is time to update it. As you see, this is a comparison of Dow's 2021/2022 chart against 2007/2008. The dynamic factor is WTI Oil (black...
US30USD - Intraday - We look to Sell at 31991 (stop at 32442) The medium term bias remains bearish. There is scope for mild buying at the open but gains should be limited. Previous support at 32000 now becomes resistance. Resistance could prove difficult to breakdown. Preferred trade is to sell into rallies. Our profit targets will be 30952 and 30700 ...
If we break 31618 i believe we will have competed ABC 3-3-5 pattern Note we have retraced to the fibo 61.8 published August 5th
butterfly pattern (and stupid Biden+Powel) do its job well push markets down now dow reach fibo 61% (see red fibo on chart ) and it can start +uptrend to 33070 when pinbar comes on 1hour or 4hour or daily chart dont fear pick low size buy and hold it 7-8 day SL:pinbar low good luck
Price is currently following strong bearish momentum, & has reached the key ascending trend line. I will be looking for a breakout of the support region & ascending trendline for further downside movement into the support regions below.
The S&P 500 has slipped further after making a run for higher levels. Yesterday, we tested two levels that we have been identifying as targets for weeks now: first we touched 4009, then made a brief pivot to 4068, where we saw immediate resistance, confirmed by red triangles on the KRI. We subsequently plummeted as the risk off tone permeated the markets. We...
US30USD - Intraday - We look to Sell at 32761 (stop at 33164) The medium term bias remains bearish. A Doji style candle has been posted from the base. We look for a temporary move higher. A Fibonacci confluence area is located at 32800. Preferred trade is to sell into rallies. Our profit targets will be 31822 and 31600 Resistance: 32800 / 34300 / 36800 ...
The Dow Jones Index (DJI) hit the 1D MA50 (blue trend-line) yesterday and today shows the first signs of recovery. The drop from the August 16 High has been substantial, almost -7% but so has the rise since the June 17 low (more than +15%), so profit taking was natural, especially since the High exceeded the 1D MA200 (orange trend-line). The first Resistance on...