DOWT, SeesawingPrevious neck line resistance broken, 10 days later, it became resistance again P.S. The major US indices-DJIA, DJTA, RUT, SPX, COMP are wearing the same boxer. Hence when it gets stink, the entire gang is in smelly situation with immediate support to be testedby jangseohee223
DOWT, closed above necklineAfter faking out from the Megaphone as H&S, price got rejected below the neckline but somehow 8694.68 coincide with Christmas Mood. The second day after Mdm Y reassured interest rate remains the same (plus a blackmailed from Mr. Market), price closed just a fraction above the Neckline! Well, the immediate resistance (whether it is strong enough) will be the upper ascending Megaphone line. If price were to break this resistance and further clear the shooting star high, the entire purple region could be a left shoulder.by jangseohee552
Too much of something isn't always goodIf the current downtrend channel can hold up the price well, then you know what to expect, ain't ya! 1st scenario: next bar will even pierce through channel top and challenge R1. If this is the case, MACD & RSI are continuing to make lower high which resulting in more bearishness. Price might stall between Pivot & Resistance 1 for awhile before making a U-turn. 2nd scenario: next bar only enough to challenge pivot and then consolidate for awhile and then make a big U-turn. still MACD & RSI continue to make lower high. Next anticipated support would be between 7490 - 7550, which confluence with S5 & Fibo 1.618 level. Another bearish indicator if you have forgotten-PRICE FLIES away from 8ema! P.S. I won't rule out the very slim chance of price challenging R2.Shortby jangseohee1
Switching to different spectacle for TransportAs the Bollinger band is set at 20,2, hence 1st 20 column of data doesn't have the band. We might be seeing Transportation index shooting to 9000, all time High!!! by jangseohee0
Could we be in for a Breather for the markets? DOW Trans Could we be in for a Breather for the markets? DOW Trans If it is this may be brief. Stay nimble either wayby stan930
Could we be in for a Breather for the markets? DOW Trans Could we be in for a Breather for the markets? DOW Trans is this a head and shoulders pattern setting up here? Is there a Double top forming on Crude on the weekly charts? No matter which this is stay nimble as strong as markets have been it may be over as fast as it happens and off we go back up!by stan930
DOW Transport - buy the dip - WHAT DIP ?"super bull market !" every day Bloomberg TV, CNBC, and god knows who is barking "ANOTHER ALL TIME HIGH" in this or that Index ... "Stocks are still cheap historically given the current average P/E" "compared to 10y Treasury yields , S&P div yld is more interesting" WELL, I was told to buy the dip then... WHAT DIP ???? Ok, RSI is only at 79.6%, STILL GOT LEGS TO GO TO 80%, perhaps even 85% !!! ...or... you play the party-pooper and play aggressively the dip = go short. The dip will come as likely as we got a new pope. The question is therefore not if, but when. Would I rather buy here ? Nope. Would I short here ? You bet. Is anyone noticing the GREAT VOLUME on this very recent super rally since the break-out of the monster triangle ? Great accompanying volume , NOT. I am bit sarcastic and there are NO indications and signals of a reversal AT ALL. But my finger tickles on the sell button. sorry Shortby oops2
DOW Transportations Index Retest SupportWatching the DOWT closely for signals when to buy sell overall market. Pattern looks like a (somewhat close) Symmetrical Triangle that busted out a bit too early. thepatternsite.comLongby QuantitativeExhaustion779
DOW Transportations, showing no signs of bearishnessDOW Transports has given us some incredible signals as to the overall market direction. Right now it's giving us a green light, but comformation would be reached if the DOWT can break the overhead ascending resistance (zoom out to verify). However, we should be careful for what we wish for. There is very strong resistance near the 5600-5700 level. Several major market corrections have occured after the DOWT has touched the ascending resistance line. by QuantitativeExhaustion889