Is the Dow finally going down? for DJ:DJI by elliott77

This looks like a head and shoulders pattern to me but we shall see. BTC following...prepare for a big drop IMO

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Here is an updated projection on time, target, and future path. I hardly ever get the timing right. Let's see

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Moving the lines...idea still stands for the time being

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Still my thoughts unless it busts out of the pattern which is still in tact for the time being

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Well we all knew it wouldn't go down without a fight ...the struggle is real.

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Here is a prediction...we shall see

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Sure seems like a BTC to Dow correlation today...BTC can't rise when the Dow is dropping. In fact BTC drops when the Dow drops. When the Dow stabilizes, BTC rises. hmm... Hypothesis - BTC can't rise when the Dow drops. We should get some relief tomorrow I'm guessing or maybe even a rise at the end of today to send BTC upward after hours. BTC rises fast however to make up for lost time which should be noted as it wants to go up IMO. I suppose we should see what futures are at 7pm EST and what BTC does thereafter. Just thoughts OK. You don't have to agree

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After some thought I think the the Dow will start to stabilize for the next week or so before a big drop may occur. Time to make some money? Smart money knows and who knows maybe Russian doesn't invade and somehow the market rebounds at the 32.75k level. I personally think they will invade but one never knows. We shall see

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more down for today IMO

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Small bouncing incoming ...it will be interesting how this plays out. I don't want to hone in too much on the Russia situation but at the same time it would foolish to overlook how it would affect the market given the current pattern.

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Is the Dow about to spring up?

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Will it be a little up and sideways today or will the descent begin? Let's see

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I wonder how long 34k will hold and when Putin will invade?

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Looks like a descending channel down unless somehow 34k can be broken (now resistance area) which doesn't look good IMO

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Is a rebound in the cards for today?

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Still inside the descending channel ...will it break out of it?

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Is DJI headed to the 32.65k area? If so what will happen when it gets there? Will we see a big drop or a rebound? There's a war going on right ...wait I mean peacekeeping tanks have pulled in so no not yet (sigh). Will the market just keep sliding down or will it shrug of the the geopolitics and start a new road upward? Inflation...interest rate hikes in March...thoughts?

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I'm not quite sure where we are going to head from here but here is a thought...in other words we aren't likely going straight down as the market is oversold right now IMO.

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Here is an idea...things are muddy to me at the moment to be honest. I'm just a spectator for now.

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This needs time to develop

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Let's just say a slow decline until the Fed March 15-16th meeting regarding interest rates...only after then can we really know where the market is going to go IMO. Good luck

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Is the Dow stabilizing?

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If it is going down sooner than later...we shall see

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A similar but slightly different idea...

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Lining up with the Fed meeting on interest rates...

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My thoughts ...we shall see

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another thought ...

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maybe DJI will go sideways for a bit before heading down in a few months?...an idea I have posted before. Just watching this week

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My current thoughts...

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I don't want to be close minded but also open to a reverse situation. This just needs time to play out IMO

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back to the bear flag idea ... let's see on Monday

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I've been away so I could not update. Here is my current thought. I am not sure exactly what will happen...maybe more sideways action for a few months before heading down? I probably won't be updating very often unless it starts heading down consecutive days in a row as I am showing here. Good luck

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I wanted to add a bullish scenario...

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Maybe far fetched...just a thought

Trade closed manually:

I'm closing this idea since it didn't reach its target...here is my last thought. Good luck to you all.

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been away...here is my current idea which is quite different than my previous ones

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Fed news on Friday caused a dump...I should I have kept my bearish path alive.

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We shall see...

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Well I didn't expect DJI to head down so quickly after touching the neckline but here comes 33.1k area. Will it recover from this area? Let's see

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wow ...

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I expanded my diamond pattern. Perhaps I should let go of the idea but I just can't for now. My instinct says DJI may recover and thus the pattern would stay alive and remain plausible. Good luck to you all.

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Yeah no diamond... here is what I see now. Good luck to you all

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the dates will change but this is the idea...will it move to the target faster or slower. This is what needs to be monitored...

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down a bit more ...let's see

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no up...it headed to its target

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I caught this last Friday ...didn't have time to update

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Big drop coming IMO...let's see

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the crash is coming ...we always go above the neckline here. Its overextended as one would expect ...wait for it

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Just my thoughts...

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I'm turning bullish with caution...

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well it just doesn't seem to want to come down...maybe it won't.

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updated ...

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I keep going back and forth between a larger drop and a smaller one ...at the moment I am thinking a deeper drop is in the cards

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even down a little further I think ...

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If and when 32,550 area is broken downward...selling will accelerate to the target IMO ..only .75% to get there...let's see if it can hold for today but I suspect tomorrow or Friday it will not

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Can DJI hold this level? perhaps ...let's see

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If DJI can hold I would expect something like this maybe until the end of the month but we shall see

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It looks like its holding...finally up for a bit

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my thoughts currently until things evolve...

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shaping up into something ...maybe a consolidation pattern?

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Look like DJI is headed to 30.5k IMO ..let's see

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up for a month or so IMO but we shall see

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lol didn't see last hour of market close ...back to down

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DJI finally reached my trend line! Ugh took forever. I see up now for BTC and DJI..maybe even long term but we shall see. I doubt a quick recovery but you never know. Take care!

Trade closed: target reached:

I won't be updating DJI anymore... barring a huge breakdown, I expect the trend line to resume an uptrend until next year sometime. Good luck to you all