DJIA (Dow Jones Industrial Average) monthly finished bullish and closed above all major MA which is bullish. DJIA is at beginning of forming a bullish pattern ascending triangle which after breaking the upper horizontal trend line could be very bullish. However, volume did not confirm price action too much as it was lower than last month which is usually a month...
DJIA daily returns into a pattern which is a good sign, but it is doing on lower volume which is more bearish than bullish. It touch the resistance line and got rejected right away which is a sign of weakness. Volume does not confirm this move at all and is a sign of a likely move down. Price is above all major MA which is bullish. RSI is neutral. MACD is...
It's high... So... JUST IN CASE, we get a credit on this trade & our MAX loss is $13.50 ish. This R:R is only "ok" but you are selling high at least, which is a bonus.
Someone who is super bullish may call this a Bull Pennant. For now, I will call it a triangle and if this breaks up I will re-eval. Either way it is neutral until broken. Price is well above the .382 in spite of the long and tortuous down turn in the market. This has been soooooo slowwwww! No recommendation/Possible M forming. ST= symmetrical triangle.
Price action moves on waves. Fibonacci is a powerful tool where we clear can see a highly possible resting zone for a bigger move. Long or short could be depend over you strategy. For me testing the Golden Zone indicates a bigger move over the near future. I consider them healthy market resting retracements towards a golden zone. Like I always say... Only time will tell.
Expect volatility because LEAPS expire on Friday. US stocks 2023 LEAPS (Long Term Equity Anticipation Securities) expire on this Friday, January 20th. 2024 LEAPS expiry date is on January 19th, 2024. 2025 LEAPS expiry date is on January 17th, 2025. Here's a 1 day DIA, IWM, SPY, VTI & QQQ comparison chart with the tickerTracker MFI oscillator set to 20. Also, I...
Rare to see the dow index be the leader on the downside. Sp500 at 200 day moving average , again. Vix relatively low for the range in last year. percentage of stock above 200 and 50 day moving averages also both at top of the relative range for year. price discovery at work!
Broke above daily pivot point $328.65 after $DIA grabbing liquidity and pushing it back up to yesterday's local resistance near $331.5 into pre-market. The next order block has lots of sellers going into 2023. NEWS: The economy is hurting from the collapsing retail, freight delays and now the national rail strikes happening this December. Markets seem to be...
High inflation, terrible earning, world climate and trend analysis are panning out for a sell off.
DIA is on my play list this week. The market had a fairly bullish end on Friday. However, probability is favouring a move to the downside on the swing levels (the indicator you see displayed in the chart). That is not to say we won't see upside first, but the probabilities are pretty bearish I have to say. And like its across the board here. Dare I say its pretty...
Conceptual view of how to trade non directional or semi directionally using strangles and capped strangles, also known as Jade Lizard option spreads. Non directional option trades attempt to benefit from sideways markets or markets where options are are pricing more implied movement than is realized in the underlying asset. Combing a vertical on top with a...
December week 1 350 / 355 bear call spread for .65 limit credit. IF we trade sideways OR roll over, this will be a nice location
DIA closed at $328.58 today. That's above it's SMA200, $326.49, on the 1 day chart. Bull trap or breakout from the bear market? DIA 1 day chart levels: SMA50 = 309.53 SMA100 = 313.85 SMA150 = 320.69 SMA200 = 326.49 SMA20 trend channel top = 328.42 R3 = 322.34 R2 = 316.26 R1 = 310.18 pivot = 304.10 S1 = 298.01 S2 = 291.93 S3 = 285.85 bottom = 279.77 Do your own...
Dow Jones is still trading withing the range of the past few days which also places it within the range it was in back when we had a major decline following a disappointing CPI report back in the beginning of June. This puts the market in a position that could see a potential breakout in either direction. Can we possibly see economic data that propels the Dow...
Educational purposes only: if the bear market continues, one tool Im keeping available is bear vertical spreads. I dont want to go straight short the market, and buying high valuation is a no for me. So bear call spread might be worth a shot while waiting for bullish opportunities.
This last week, markets initially rallied on the release of the "cooler" than expected November CPI (Consumer Price Index) — only to be smacked back to reality on the comments via Federal Reserve Chairman J. Powell during the December Interest Rate Decision (FOMC) meeting this last Wednesday as "higher for longer" is the communicated pathway forward for the FED...