YM_F 45 minutes chart below shows that Index has ended the cycle from July 7 high as wave 2 at 25293 low. The pullback unfolded as a zig-zag Elliott Wave Structure. From July 7 high, wave ((a)) ended at 25661 low. Wave ((b)) bounce ended at 26029 high and wave ((c)) ended at 25293 low. Up from that wave 2 low, Index has resumed higher as a 5 waves Impulse Elliott...
Like $ES_F, $YM_F is testing the top of its Blue Wedge of Truth at 24,200. The bottom of the Wedge currently sits at 23,900. Broad risk-off sentiment seems likely to result in a test of the latter.
A little something to put in your toolbag... The fade this morning falls in line with the Taylor Technique for swimg trade fades of previous days highs/lows when the previous day opens in its lower/higher 10% and closes in its higher/lower 90%. When this occurs the retest of the previous day hi/lo is likely and IF they fail to hold a fade is likely. Raschke &...
Prica action riding ascending channel into previous tops. Possible test of and fade of any of these 3 highs (yellow lines)
Elliott Wave View in Dow Futures (YM_F) suggests the rally from 3.23.2020 low ended wave ((1)) at 24806 as an impulse structure. Up from 3.23.2020 low, wave (1) ended at 22545 and wave (2) dips ended at 20500. Index then extended higher in wave (3) towards 24327 and wave (4) pullback ended at 22814. Finally wave (5) higher ended at 24806. This final move also...
Dow Jones Futures (YM_F) ended the cycle from February 13, 2020 high at 18086 as wave a. Down from February 13 high, wave ((1)) ended at 24675 and wave ((2)) ended at 27075. Wave ((3)) ended at 18766 and bounce in wave ((4)) ended at 20882. Finally, wave ((5)) of a ended at 18086. Wave b bounce remains in progress as a zigzag Elliott Wave structure. Up from 18066,...
Short term Elliott Wave view in Dow Futures (YM_F) suggests the Index ended the cycle up from October 3, 2011 low in wave (III) at 29543 high. The index is correcting that cycle in wave (IV) as a zig-zag. Wave a of (IV) ended at 26692 low. The internal subdivision of wave a unfolded as a 5 waves impulse Elliott Wave structure. Wave ((1)) of a ended at 29100 and...
Short term Elliott wave view in Dow Jones Future (YM_F) suggests that the Index has ended wave ((4)) correction at 28411. The internal of wave ((4)) unfolded as a double zigzag Elliott Wave structure. Wave (W) of ((4)) ended at 28796, wave (X) of ((4)) ended at 29007, and wave (Y) of ((4)) ended at 28411. The Index has resumed higher in wave ((5)) with subdivision...
Elliott wave view in Dow Jones Futures (YM_F) suggests that the decline to 24604 ended wave ((W)) on June 3. This decline ended the cycle from May 1 high as a 3 waves zigzag Elliott Wave structure. Wave ((X)) bounce is currently in progress to correct the cycle from May 1 high in 3, 7, or 11 swing. The internal of wave ((X)) rally is unfolding as a zigzag Elliott...
Short term Elliott Wave view on Dow Jones Future (YM_F) calls for the bounce to 25952 as wave (B). This move higher is a correction to the decline from April 24, 2019 peak. In order to avoid a double correction in wave (B) and provide validity to this view, Dow Jones Future needs to break below wave ((i)) at 25215. However, technical analysis on US Sectors such...
Just like ES1! and NQ1!, the trend is bullish. However we are at some resistance on the daily. There should be a lot of support at 24,860-24,900. Below there 24,750 has to hold or we will sell quite a bit. Testing the 200 day sma right now and the downtrend line from the ATH. We are currently more than 2/3 back from the reversal in December and the ATH. This area...
Directional Bias: Long Price Target: 25300+ Good Entry: 24500-24600 Risk/Reward: Max Risk of 125 Points, Potential Reward of 700-800 points
Hello Traders, Short-term Elliott Wave view on YM_F (Dow Futures ) suggests that the pullback to 24956 low ended red wave 4. Up from there, Index is rallying within red wave 5 to end a 5 waves up from 4/2/2018 low. Black wave ((i)) of 5 is currently in progress with internal subdivision as an impulse structure, This suggests lesser degree cycles in the direction...
Very similar RSI divergence on NQ last seen in early 2018. Can also count 5 waves up since end of wave IV in May. All major US indexes showing similar setup.
Hello Traders, In this analysis, we will have a look at the Dow Jones 1 hour Elliott Wave chart. Dow Jones ended cycle from 04/02 low (23311) at the peak of 06/11 peak (25417). Below from that peak, the instrument is currently correcting the cycle from 04/02 in 7 or 11 swings before the rally resumes or bounce in 3 waves at least. Down from 06/11 peak, the...
Dow Jones Futures Elliott Wave view suggests that the pullback to 24227 low on 5/29/18 ended in red wave 4 pullback. Above from there, the rally is unfolding as an impulse Elliott Wave structure with extension in the 3rd wave higher. As an impulse, the internal of Minute degree wave ((i)), (( iii )) and ((v)) should also unfold as an impulse with 5 waves...
The Dow Jones has been quite weak recently, even more so than the other two indices. I'm seeing bearish price action despite record earnings. Currently I believe a tentative short entry with a tight stop is warranted. The DJX recently broke down out of a bearish ascending wedge, but has since retraced into what looks like a bear flag. On the other hand we have a...