SQQQ on the 15 minute chart has trended down into a reversal at the end of the last trading session. A snapshot of the 3 minute chart inlaid shows a reversal about 14:45 EDT 75 minutes before market close. I took a long trade of shares and call options striking $10.00 for June 14th at that point. I am expecting a 5% quick return on the shares and far more on...
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...
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...
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...
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 TVC:DJI trade we did ( NASDAQ:TSLA was great) was nice. In & out. AMEX:UDOW gave back all gains TVC:NDQ holding better, NASDAQ:TQQQ bit higher (risk reward was good but not for holding longer term) Point is, NOT RISKING, not convinced downside's over. AMEX:DIA almost oversold & very close to a VERY IMPORTANT AREA. Will revisit risk soon, once...
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...
DAILY TVC:DJI is really struggling to hold the green moving avg. (see profile for more info) #Dowjones RSI is holding the 50 area - Yellow Box. NOW, pay close attention IF they break we're looking at likely trendline retest, white line. That's where the possible 1k point drop idea comes from, mentioned yesterday. Weekly support, Red Mov Avg, shows another view...
TVC:DJI has had one weekly CLOSE above 34.4k since April 2022 & another on Friday. of last week. Daily, the issue is a close above 34.6k. - Notice the heavy volume on the down days? All, except one day has been a solid bottom. - The Ascending Triangle forming likely means that we have MORE upside on the Dow Component. AMEX:DIA AMEX:UDOW #stocks AMEX:SDOW
SDOW is shown here on a 30 minute chart current rising above a parallel descending channel which is within a longer trend of a downward-facing megaphone pattern where it is currently situated near the top of the megaphone. I have drawn the two trendlines onto the chart and added an RSI indicator. My plan is to take a short trade on SDOW by looking for an...
UDOW is shown here on the 30-minute chart rising over the past month in an ascending parallel channel. The chart shows the price currently situated near to the bottom of the channel which is the support trendline drawn onto the chart with the resistance trendline as well. My trading plan is I will take a long trade of 50 shares with a stop...