It is getting more and more obvious that Trump's Government have used trade war as a leverage to propel markets to ATH or higher (SPX) to this point. However, it looks like "all masks will come off at midnight" i.e. Sunday before futures open to reveal that it all was a big disguise. Trump's approval ratings going into election year are at record low. One thing...
Clear Short, why?
1) Totally overbought D1-M1
2) No Fed rate cut
3) Worst economic outlook since 2001
4) USA - China deal? Come on :D Not
5) Gold runs up
This is typically a blow off in the market bubble before recession.
Looking at the Dow Jones 30 (US30USD) I identify a possible head and shoulders pattern on the daily timeframe. This could potentially also be a head and shoulder pattern within a larger head and shoulder pattern spanning back to November 2018 (Left shoulder) - October 2018(Head) - April 2019 (Right Shoulder). On the daily timeframe, the pattern starts Feb 2019...
Nothing more important in this business than patience's. After the new monthly candle we anticipated a strong retracement to the upside as the new month began. This was highlighted in previous analysis.
Our first indication was to plug in our fibs on the H4 time-frame and measure that time-frame retracement. Well if you take a look at the H4 time-frame and if you...
Until now it looks like that US30 wants to retest the daily trendline and resistance zone, which aligns perfectly with the 0.236 Fib level.
So, just wait a bit and you have a great short opportunity on your hand. :)
We waited for the anticipated retracement as stated in the previous analysis. Daily timeframe Fibonacci level 38.2 has been reached, now that we step down to the H4 timeframe we can see more clearer picture of the retracement with Fibonacci drawn. Price stop right on our 61.8 level. Now its just a waiting game to see which level will hold. We got confluence at...
Alot of fundamental aspects are in play with the US30 right now, so adding technical analysis on top of your knowledge on this indice will give you your own feel of confidence when you see the set up i have here.
Multiple confluences with the 61.8% and the 161.80% on the swing downs with the fib.
will look to see this potential move happening over the next few...