Dow Jones Futures Elliott Wave view suggests that the pullback to 24227 low on 5/29/18 ended in red wave 4 pullback. Above from there, the rally is unfolding as an impulse Elliott Wave structure with extension in the 3rd wave higher.
As an impulse, the internal of Minute degree wave ((i)), (( iii )) and ((v)) should also unfold as an impulse with 5 waves...
Dow jones index on a daily chart finds itself on a resistance area. MACD pointing upwards showing potential bullish move, but we have to take into consideration average directional index which shows us the strenght of the current trend which is very low. Let's see what happens next. Have patience
The index is on a symmetrical Channel Up on 4H (RSI = 55.713, MACD = 53.000). Given the overbought levels on both 5H & 1D (STOCH, STOCHRSI, Williams), I expect a pull back to 24,582 before reaching 24,996.70 again and 25,226.56 towards the end of the month. With a Higher High on 1D (Highs/Lows = 152.8571), I believe the long term downtrend came to an end. However,...
Another try to make some money. I predict that downtrend momentum will cause price action to breakthrough the rising wedge pattern. I don't understand the rally of DJI happened this week, so consolidation is here. This is a risky trade against bullish trend!
looks like DJIA is forming a triangle pattern.
if it is true, wave e should not move beyond wave c (24850).
estimated sell targets are: 22729, 21482, and 19464 (extensions of 26621-23368 price movement).
actual targets should be updated when triangle is clarified.
Last impulse of the cycle. What if DJI hits 30k ? What if the final move will be the greediest one? Everyone will be hungry for profits before rate hikes and earning of the companies squeeze. If - Then - $$$. Good Luck
I've told you and I hope you're still in it with a nice profit. If you want to celebrate do it with respect, because do not forget, millions of people, most of them Americans are losing their money. At the same time think about this pattern "descending triangle", which looks very nice to go for and bears will push and takes action on. Monday or Tuesday?
This...
In my humble opinion there was a sort of overreaction triggered by short selling yesterday upon IBM's earnings call. Numbers were not great and guidance was lowered. Nevertheless, the blue chip has created a stronger position to capture growth in the IT business related to cloud computing, cybersecurity, and artificial intelligence technologies (15% yoy...
I think the pattern is more evident here on the Dow Jones, when compared to SPX. The next leg down (when measured from peak to baseline) has us right at "bear market" territory. From the current high (open/close) a close beneath 21293.368 puts us below the 20% threshold, and while we may dip to this area, I'm not so certain we will close a session beneath this...
You already know the main idea on DJI so this is just a reminder to hold your position, laugh and walk away.
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Bears are in firm control for now and I am seeing it shall easily go and retest the previous low near 23100 level.
For any pull up. 24,770 will hold out as a VERY strong resistant.
DO NOT blindly hold overexposed long positions.
DYODD and Trade Safe
s0nic
Disclaimer:
The information contained in this presentation is solely for educational purposes and...
Remember on Dow Jones, I'm still bearish. Wish you the best!.
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While big investors start to jump out of the train they kick off a bearish move... Why?
The answer is harder than you think, but at the same time it has logical decision. Since some months ago I shared with some friends about this risk, but the market just went higher over and over.
You know I like to apply maths to my trading, but at the same time history,...
