The overall structure of the Dow Jones 30 looks positive. The most recent pullback came down
and tagged the support level from the consolidation resistance and bounced off from that level.
After periods of consolidation, it is always good to see price retest support levels as it confirms
the support level is holding and gives more strength to the buyers. Now what...
It didn’t take long for the major indices to get back to all-time highs, as they began this shortened holiday week with a solid rally on hopes for a trade deal. The prospect of renewed economic growth and favorable monetary policy have also played some roles for the rally.
Overnight, DOW rose 0.68%, but lagged comparing it with S&P 500 and NASDAQ. Obviously, the...
Difficult to read especially the yellow third wave in the middle. Let's track it. Not ready to cut longs yet. If it begins to slip then I'll wait for pullback to try enter shorts. Until then just tracking.
Good Luck!
Pattern: Channel Up on 1D.
Signal: Bearish as the pattern has made a Higher Low and the RSI was rejected on the Overbought Zone.
Target: 27200 (potential contact with the 1D MA50).
My quite reasonable sell zone has been highlighted and the DOW is now just entering it. I would recommend caution to all those thinking of investing in stocks at this point in time. There is not much more head height left and lots of room to fall.
US stocks end the week higher rose in today's trading amid optimism that dominated the markets after news that trade negotiations between Washington and Beijing are proceeding positively
Dow Jones are right now in a decision mode.
26750 is the key Level which must hold for Long
in a Longtime View.
In shorttime we are ahsort since 26980 broke with
2 supports.
Now there is the Long Trendline in BLUE which is in danger
Watch out these and the 26750 Level to decide the direction.
For new Longs in short timeframe we must climb above 26870
Good...
-Harmonic pattern formed.
-Bearish Candle daily close inside the bullish candle (Bearish Inside Bar/Bearish Harami)
-Price reversal zone at green resistance zone.
Dow Jones Lacks Sustained Momentum
The Dow Jones Industrial Average was lagging the other major US stock market indices on Thursday, as both the S&P 500 and Nasdaq were able to squeeze out gains of more than 0.40%. At last check, the Dow had climbed 68.36 points or 0.25% to 27,070.34
The winter is coming. As everyone can see the index is failing at making higher highs, the dips are shallow, but the conviction is not there, there is just no room to rally. We reached the TOP. RSI showing weakness in the bull market.
Expecting a correction to around 25300, then a low volume rally to retest some of the former highs, and then, the long awaited...
On Friday we are finished a possible Wave d of of 2. Now follows the last wave e to complete the triangel and we starting Wave 3 with a Target above 30k.
