Looks like the DOW is setting up for a long entry, there is strong support at 245 where is there a significant gap from a breakout from previous consolidation and the 50dma. Potential inter-day action as low as 237 but expecting daily closes above 50dma. Would be expecting a few tests of this area before reversing, no rush to enter see how it pans out next week.
My name is Lukas and I am a beginner in trading, respectively, I only trade 9 months. But that means I have to do the necessary analyzes without it I can't trade. I want to show you how I work on myself and document my beginnings. I use Vix and my strategy is built on to return to average. I highlight the important support levels and...
* TAKE AWAY FROM POST: We're expecting to see
Possible second wave of implosion (DEPENDING ON THE FED'S NEXT MOVE).
Minimum target is 15% in blue.
Welcome back, it's been a while since we last talked, hope all is well.
Let's get right into this, last time we talked we were trying to short the market (SPY around 255$ and got stopped out a little...
Please do you Due diligence and invest wisely
From my last DIA post I presented the Bears Vs Bull case and pointed out at what level I felt would decide who won the final round. I also pointed out the bull vs bear trap area which played out for many weeks to trap as much bears as possible.
Now I think the market will make new all time highs and every dip in my...
As DIA hit 254 premarket, I would be willing to open some puts when market opens. I am patiently watching if DIA could break out to 255.94. If that happens, we might see ATH soon. If that gets blocked, I think some correction in the short term is really likely, and a TP of 240 is possible.
For the DIA, it is in a slightly downward trend. Expect it to bounce between the 2 trend lines drawn in the picture until either trend line gets broken.
Please note that, the 50 SMA and 150 SMA are sloping down in the daily chart.
Small bear flag on DIA, if it goes through it aims towards $222 - in line with many macro charts that indicate something will go down next week. Wonder what, it's now like we are in a global pandemic, unprecedented lockdown, massive unemployment and insolvency, aren't we?
Some key levels marked as the purple lines. But I am watching to see if we have a gap tomorrow above $242.66 to climb higher. $242.66 was resistance today. We do have support at $241.11 so we will see what brakes first.
My Omnichannel indicator touched the trendline (see the right arrow) signifying significant price move is coming soon. The direction is normally a reversal of the latest short term trend. But this may be sometimes unclear and I use the the second indicator to confirm the direction (notice the downtrend line and the down arrow crossing the 0 line).
S/R Levels - With the RED color is Resistance and the GREEN color is Support.
Three times the market has tried to break through Resistance, so now it is looking for new buyers to break through. Along the way down there is one smaller Support and a larger one that I think will work and the price will react on it.