SQQQ trended down the last two days of last week and especially Friday as the technology stocks surged
Yesterday had price consolidation and generally less trading volumes. I believe that
SQQQ will bounce at this level. It is supported by a cross above the POC line of the volume
profile. Under that line is the stop loss while the target is 17.95 at...
Good Morning!!!
Let's dissect a few things.
The DJ:DJI is showing warning signs on the Weekly Chart:
Money has been leaving.
Harder to see on a daily so showing on weekly.
RSI is also weak.
Daily
The DOW is trading under shorter term moving avgs.
The RSI is at an important juncture, 50.
$ flow almost under 0.
-----------------------
There are some positives...
SPY on a 120 minute chart uptrended from October into late March. A standard Fibonacci
retracement for this trend down could take it down to the 475 range or about another 10%.
Current price is under the daily SMA 50 ( blue line) at 495 and could continue to fall into the
SMA 100 ( green line) which is confluent with the Fibonacci retracement level. ...
SPY on the 2H chart shows the past six months of trend. SPY has been in an ascending channel
but fall out of the channel. Iran's ambition to retliate against Israel and the movement of US
NAVY warships into the the Middle East raises concerrn as does "sticky inflation" and early
earnings reports from big banks. On the chart, trend angle analysis suggests the...
The idea is shown on this 120 minute. With the new sticky inflation data, the writing is on the
wall. Likely the rate cut will be kicked down the time road. When is in consideration may be
a rate hike in the meanwhile. Mortgage rates unchanged makes the banks suffer. Loan
applications are down. Treasuries are being affected. So are tech stocks that have a...
Markets may remain irrational for an extended period of time. This can happen even when data conflicts.
For the moment on the daily TVC:DJI :
RSI is weakening.
$ Flow is lower, but it is stable.
Buys slightly outpace the sells since Mid January.
(Only weekly is shown here. Pls see our profile for more...
QQQ is here on a 30-minute chart showing its pivot down from a near-term high in a descending
regression channel. Advanced RSI and MACD indicators are used to better pinpoint short entries
in this downtrend especially with put options contracts with expirations every other day.
Greed has turned to fear. Those equipped with experience and risk management can...
SDOW has leveled off at a near-term bottom after a downtrend as confirmed by bullish
divergence on the RSI and MACD while the price went sideways in consolidation.
Volatility has contracted as have trading volumes. I see this as a buying
opportunity with a stop loss of 20.5 below the low pivot in consolidation and the first
target at 22 underneath a...
DIA tracking the DOW widely in an ETF format on the two hour chart had a 7% rise in the
past month which was widely followed in the investment media. I believe that it was a bull
trap. In the past week price action has been sideways while the Stochastic RSI shows
bearish divergence as does the zero lag MACD. Tradign Volumes has fallen off since
burst of...
On the flip side...
DJ:DJI is pumping today & leading.
The industrial is at a major resistance level & pushing through, for the moment at least.
AMEX:DIA hasn't been able to trade above this area for almost 2 years!
How will it handle it this time?
Weekly RSI hasn't been much higher than current level since mid 2021.
#stocks AMEX:UDOW AMEX:SDOW
This is where we see how serious the decline in DJ:DJI is.
AMEX:DIA has not been this oversold since March of this year.
2nd Pic:
Right side = 15minute chart
The lower part shows the Relative Strength = RSI
At the moment is shows some positive divergence, higher lows as index falls.
This is the battle ground!!!!!!!
Keep in mind that the index has taken a...
DJ:DJI broke the head & Shoulder pattern on daily charts. However, the volume was not heavy.
AMEX:DIA also broke the up trend from the bottom in 2022
SERIOUS DAMAGE has been done the last 30 days.
We can get a bounce here BUT being Friday, not sure.
---
The previous MONTHLY BEARISH moving avg crossover on the DJ:DJI happened in June 2008. We all know...
GOOD MORNING!
The 10 largest companies in CBOE:SPX = about 35%
They have an average P/E of 50
Kind of scary
FYI
TVC:DJI joins the Head & Shoulder party
As data comes in we readjust
#SPX #SPY #DIA #DJI #stocks #indices
Originally worked on this 4hours ago
DJ:DJI is also at the 2022/2023 trendline.
It's also formed a Symmetrical Triangle - see previous TVC:NDQ post .
Daily, the RSI broke the downtrend but it completely fizzled.
Weekly, the RSI is holding above the 50 area BUT it is testing it.
IF it breaks this 50 area we will likely have more downside.
Monthly, STILL...
Good Morning!
Since the call on DJ:DJI , it has been up & adding some more today.
Within 2 weeks AMEX:DIA is going to break down OR it will continue it's longer term up trend.
Bulls like this current action.
HOWEVER, there is an ominous pattern forming on longer term charts.
A Rising Wedge pattern tends to be BEARISH.
Not coincidental that the peak is very...
Good Morning!
TVC:DJI reached the level that we called for, the 1k point drop we spoke about.
Now what?
Coincidentally, the index is slight oversold.
#FED can only fight #inflation, it cannot nor will it tame it.
If it insists it will hurt #economy. But, they've been saying they know this!
Since they began to raise we made it clear, they're going to break...
The risk in #stocks is still not to the upside.
Took a trade before this rally, but that's it, a trade, already done too.
Lower low today, still expect to be positive for the day, but until we get some sort of reversal, the risk is still to downside. TVC:DJI AMEX:UDOW
NASDAQ:NDX is trying to find a bottom but here's not best place. Very light support.
...
We almost called top on the #indices.
DJ:DJI AMEX:DIA
Daily
Few days ago stated that it could drop 1k points.
Weekly
Yellow areas are the best risk reward entries, for a bounce or if we continue higher.
Monthly
Choppy action is 100% normal since 2018 (Only after CV crash it went straight up). This was not the norm prior to 2018. Usually had few months of...
