Wall Street 30 Cash forum
Hmm us30 is bound to retrace am going in sells
Because seriously. Get it together.
I'm borrowing a computer while the shop does a diagnosis of my desktop's tower.
I am just taking a peek at what happened today and can see several things on the Hourly that is in Bullish (directional) Market Bias. Look on the chart below at several things to consider:
- A new and very tall S&R Zone just formed, which may be used as Support by the bulls to rise from some more. Based on the Daily, it can go as high as 46,440 and potentially higher.
- The current candle forming at its low formed a Minor Pivot Low (shown as a circled green arrow), which means that there's more moves to the upside as confirmation;
- The previous candle is a tall Doji with a high of 46,419 (shown as a circled red arrow) as a Major Pivot High. If the bulls rise to do a candle close past that price level, then more moves to the upside. If not, then a retrace to the downside can begin.
- And, the Market Open Line (shown as a green dashed line) across the candle that closed at the start of the New York session shows that the candles are moving within a Support Zone. It will remain that way until the close of the session, most likely.
*Side Note:
Earlier a Quadruple Inside Day formed, which foretold of this ginormous bullish trend that happened an hour later. Look to the left of the chart to see the pattern, circled in blue. It created a second tier to the S&R Zone.
Also, a giant M-shaped pattern formed right before the end of the previous session and a new and giant M-shaped pattern is forming, using this long bullish trend as the 1st leg of the "M".

Another false breakout.