UDOW has formed a nice wedge. Economy is still strong. It will go up. As you all can see, there are a bunch of yellow aggressive entries here. If price breaks the green bands, price will also break the trend and price should hopefully take off upwards. This should also result in a blue conservative entry candle.
Hit support on USD 30 and ascending limb of triangle. Dow usually continues or reverses halfway through the day. This is a buy order at exit MOC.
The market has been tanking lately, but the price is a bargain. Looking at UDOW which is a 3 X leveraged ETF of the Dow Jones, It is showing signs of oversold. The RSI is below 30, Price is riding the lower Bollinger Band and has even dropped below the band into oversold territory. The Market seems to be strong with positive earnings but buyers are gone. Price is...
The hourly XIV was already breaking down as the UDOW was making new highs.
Long 98.10 Stop - 97.49 Target - 99
Markets were not boring moving into the new year but clear selling has commenced. We believe that equities will continue to move lower and that the dollar will also fall in tandem. UDOW some clear defense at the DS2 today around 94.50 but the structure is starting to complete a rounded top, along with most correlated instruments. We think equities can bounce here...
Watchout for short term topping structures on equities here.
Luego de la fuerte caída en el petroleo en el mes de Febrero se abrió una buena oportunidad de invertir en largo en este ETF hasta el mes de Abril donde entro en una tendencia lateral que se mantuvo hasta finales de junio donde se realizo una entrega de dividendo generando un rompimiento en dicha tendencia
The sideways market looks to be coming to an end, with the odds heavily in favor of a sell off next week. S mall gains on light volume in the past few days, the general trend of the market, as well as downwards trend line resistance coming up soon, all point to a drop. Using the strong resistance at 54.40 as an entry point, first target is at $49.10, and the...