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The Dow Jones Index (DJI) closed yesterday above its 1D MA50 (blue trend-line) as it is extending the rebound we called on our previous analysis: As you see, that rebound came exactly on the Higher Lows trend-line that started on the June 17 Low and was the second (July 14 the first) time it held, making it the short-term Support. What Dow achieved with that...
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...
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...
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...
Exactly 2 weeks ago on our last Dow Jones (DJI) analysis we stated that the price had entered a possible rejection zone (red) and unless it closed a weekly (1W) candle above the 1D MA200, we would get a pull-back: Well as it turned out the index closed last week below both the 1D MA200 (red trend-line) and the 1W MA50 (blue trend-line), which are very close...
The Dow Jones index (DJI) broke above its 1D MA200 (orange trend-line) early this week but got rejected on the 0.618 Fibonacci retracement level (from its January 05 All Time High (ATH)). Failing to hold the 1D MA200 as a Support, can result into a short-term pull-back to test the lower Fibonacci levels (0.5 and 0.382) as well as the 1D MA100 (green trend-line)...
The Dow Jones Industrial Average Index (DJI) made the first bullish step as we outlined last week by breaking above its 1D MA50 (yellow trend-line) and is currently just below the 1D MA100 (red trend-line) and 1W MA100 (green trend-line). In the process it has made the exact same build up as the COVID bottom and subsequent recovery but let's see into this in more...
This analysis on the 1W time-frame illustrates the Dow Jones Industrial Average (DJI) on the log scale. The emphasis is on the comparison of this year's correction with the Subprime Mortgage Crisis that started after the October 2007 peak and bottomed in March 2009. As you see so far this year's correction has been following the fractal extremely closely....
The Dow Jones index (DJI) has had a strong red 1D candle yesterday right before attempting a test of the 1D MA50 (blue trend-line), which is the short-term Resistance. As you see the long-term pattern has been a Channel Down since the January 05 high. This formation has enabled us to accurately identify and trade the Highs and Lows as you can see from the two most...
Dow Jones (DJI) eventually rebounded at the bottom (Lower Lows trend-line) of its long-term Channel Down, since our last analysis that indicated a sold R/R ratio for going long: Since the end of May though, the index has failed just before a 1D MA50 (blue trend-line) test and turned sideways below that level. This is similar to the last Lower High formation...
The Dow Jones index (DJI), eventually fulfilled the selling sequence of January's fractal which I mentioned as possibility on my last analysis: The index is now very close to the Higher Lows trend-line of the February 24 Low and even though the January fractal hints to more selling, if the Higher Lows hold, I expect a rebound towards the 0.618 Fibonacci...
Dow Jones has been trading within the 1D MA200 (orange trend-line) and the 1D MA50 (blue trend-line) for the past 5 days. The rejection from the March 29 High came despite closing above the 1D MA200, on a move that caught the market off guard. So far the price action resembles the blow-off top of January 05, which ended in a violent selling sequence. However this...
My last Dow Jones update on the 1D time-frame was on a fractal comparison between the Ukraine - Russia war and the 2018/19 U.S. - Chine trade war: So far it looks like the fractal works out quite well and may have a potential bottom. However as the index has come its closest to the 1D MA50 (blue trend-line) since February 10, it is time to look into today in...
This is a long-term macro-economic chart on the 1M (monthly) time-frame, displaying Dow Jones (top chart) and the U.S. inflation rate (bottom chart). An interesting, yet alarming, correlation can be found on a decade-long horizon by comparing those two. As you see, the three previous times that the inflation rate made a Higher Highs pattern, Dow entered a +10...
US30 has just broken the support line and is likely start a new downtrend as we have seen long-term consolidation above. the current price action is highly brearish.
This is Dow Jones on the 1D time-frame. The price made a bottom just before the 33040 Support of the June 21 2021 Low and is rebounding, about to test the 1D MA200 (orange trend-line) as a Resistance. Below the chart, I've placed the RSI both on the 1D and 1D time-frames. On 1D, the RSI hit the multi month Support and rebounded and on 1W it hit the bottom of a 5...
Everything went according to plan since my last update on Dow Jones as we accurately caught the December 20 bottom and today the 37000 target has been almost hit, so it might be a could idea to book medium-term profits: I have to update our outlook now as a new pattern may emerge as per the late 2020 price action. That is an Accumulation Cylinder (as per...