Dow Jones Industrial Average Index forum

2 minutes ago

what an absolute beauty

43 minutes ago

the DEFINITELY just tweaked on all of us. Never seen an ankle breaker like this before. Similar to the one that happened on 9/04, I had spoken about it; only crazier. I thought we were going positive on the correlation for the first half and I felt sorta mad because my wins wouldn't have been on the basis I had in mind.. Then this shit happens lmao. I got out at the very very peak of it all too because I saw the price movement just WAS NOT matching. 🤣🥴

This one gets two pages in the journal today. My my.

busyindafield_23

1 hour ago

Every index and stock on my watchlist is down so it makes sense, the vix is on a roll too.

r7yw8tkbx7

1 hour ago

mmm news is nothing changed everything is normaal its also very strange movement…very hard day I wil expect big drop

beyond50

1 hour ago

Switching to the Hourly on Taco Tuesday:
Did you see the signs for the BIG moves earlier? On the chart below, there were about 19 hours of consolidation that was both tight and wide. Within that consolidation were 2, Double Inside Day patterns. That's a lot of confirmation that through "tight coiling", more than one MASSIVE move (as shown through price action during the After Hours earlier), which happened to the upside and downside.

Another clue was that the Market Open Line (shown as a red dashed line) across the close of the the candle from the start of the New York session means that the candles are moving within a Resistance Zone for the candles to stay below it for the whole session.

Also, the bears are dropping through the S&R Zone. They can potentially go down towards 46,247 or around there, as long as they can drop down below this two-tiered Zone (at 46,326).

beyond50

2 hours ago

I'm breaking in my new "workhorse" today. It's a Hewlett Packard tower with very wide and curved monitor screen to fit many charts on them.

I'll be officially back to trade on Monday after taking a mini-break. In the meantime, here's what the 4-Hour looks like:
- It's in Neutral (directional) Market Bias from the bullish and bearish trendlines (in red and green dotted lines) being fanned out.
- The last two candles are forming a Two Bar Reversal that's a giant beauty and highly tradeable as a top of the rally reversal pattern. The candle will close in about an hour, so make sure it still looks like that.
- The last two candles are also an Outside Day pattern (also called a Bearish Engulfing Pattern). I've placed a blue dotted line across the low of the bearish pattern. If a new bearish candle breaches it, then the next bearish candle "clears" past that blue dotted line without touching it, then more moves to the downside.
- The bears can conservatively drop it down to 46,291. If they want a true breakout from the Inside Day pattern that the candles have been consolidating in, they would need to break the pattern's low eventually at 45,943 (shown as an orange line).
- If the bears do plan to drop down and head towards the Bullish Trendline (in green dotted line) to cross, they will flip the market bias from Neutral to bearish for more profitable moves to the downside.

*Side Note:
The most ideal trade to have taken yesterday was the giant Bullish Pinbar Hammer (highlighted in yellow) that was resting on the S&R Zone because of the conditions created from that location. It was ready to launch from a launch pad as an aggressive pattern that can create a new trend, which it did. You would ride it until it creates a new Major Pivot High, which happened at 46,718 (shown as a circled red arrow).