Hi friends! Welcome to this update analysis on the Dow Jones Industrial Average, via the DJI (YM) Futures Contract. In this analysis, we are going to assess the incredible similarities, between the present day technicals, and the patterns that were created at the beginning of the 2008 financial crisis.
To begin, I would like to draw your attention to the left...
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...
We are in the 8th green week in a row. Price up on all timeframes. This week was the first time we opened close to the weekly pivot and dropped below for a few hours. However it quickly recovered above and is now past WR1 again. We are above the yearly and monthly pivot. Until the markets open or drop below the WP and hold there, there is no reason to be...
YM1! looks like it has plenty of fuel left in its TANK.
Untested levels lie above and below
You can have pending orders in either direction
With this information, do what you will
But always remember execution is everything
Pretty charts don't equal profits, so always remember to take proper risk adjusted setups
SEE Corum Integrated Solutions . COM
short to at least -121 points
current sell level 24405
next sell level 25840
WARNING!!! "PIG" market!!! Slow/Sloppy/Short BUT BULLISH LOOKING???
expect short risk and compression in price action long
Key Levels>>> YM1!
1. #cisTRADING sell level at 24405 from 23675
2. Daily Compression 423 "HOT BAR"...