Dow Jones broke the down trend line on the positive news, now between resistance and 200SMA. Best risk reward now to buy, better confirmation on the break of resistance.
Good Luck!
US30 IF IT BREAK 27020 (1) IT WILL GO UP TO 27268 (2)
THEN AFTER THAT, WE HAVE 2 PLANES EITHER IT
WILL BREAK DOWN 25800 (3) OR IT WILL GO UP TO
27500 AND AFTER THAN BREAK DOWN TO 27500.
IT IS TIME GAME.
As we approach the down trend line again and 200SMA, look to short there. Last Friday of the month, investors taking profit.
If we look at volume during this month, it spikes during sell offs, while every time price goes up the volume dries up as well.
Same picture this morning, so higher probability for a short.
Good Luck!
The patterns showing is basically impulse/partial impulse, ranging and breakout with the last kiss confirmation, the last kiss is identified by closing of the breakout on the outside skin/edge of the the resistance or support line/zone/channel touching the most recent highest or lowest touch as the case may be, therefore bouncing away from the zone, youd gather a...
Friday ended on a bearish note as markets got worried about China relations again. Since price closed below the 27000 handle, a short option more likely, best to wait for a pullback and by at a better risk-reward. All depends on the open of the Chinese markets later today.
Good Luck!
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US30 has been labeled within a Grand Super-Cycle degree wave V (blue), which has been unfolding ever since the 2009 bottom, when the Recession ended.
Structure - Bullish Impulse
2009 lows and up until Apr 2010 highs - Super-Cycle (I) (green)
Apr 2010 highs...
Buy US30 have been waiting all week for this entry,
We have some good talks happening for the rest of the week which will help push us up further,
Being an indice it matches into our startegy
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End of the year = People selling stocks at profit to buy Christmas presents
Marked up this chart to show the down fall from October to late December of last year. Personally I don't think it will be as bad as last year...However I do expect it to fall to the highlighted areas which my arrows point to.
As always be cautious and be careful.
Likes & follows...
Looking at the Dow, it seems to be topping out. Support level at 27000 now. Tomorrow FED is expected to cut rates again, all attention on the future monetary policy, if we have another cut before the year's end or not.
Technicals show that a break of the trend line and 27000 support is first signal. 200SMA is near as well, so a break may not be clean. 3rd touch...
