DJI End Of Week Evaluation
*** Comments prior to evaluation summary ***
IF this coming week closes below 29881, the open price projection for the DJI will be neutralized and the DJI will have no remaining upward projections.
This would be a break thru of the floor in a consolidation range.
The bears are entering the chart.
The price action is suggesting 29500, hopefully this is just an adjustment bottom as it prepares for the next move toward 31400.
However, use your risk management and stops wisely!
Don't be afraid to step out of the exit door to watch, even if it turns back around. Better to lose a little than hold and lose a lot.
Trend Analysis:
The current trend is defined by the last price and it's relationship to specific moving averages.
Check the MA strategy for more specific suggestions.
Weekly: The relationship to the primary trend MA is bullish. The price in relationship to the other averages suggest close current positions.
Price Action:
Weekly: The average price range currently is 873.1 points/ticks/pips. Prices are currently .7x the normal trading range. Prices are trading within the mean range for activity. This generally indicates a consolidation of strength/indecision in the market regarding direction.
Prices are currently caught in consolidation between 29881.8 and 31272.2.
While in consolidation the trade range may decrease to 539.514 points/ticks/pips.
Standard Deviation
Weekly: Standard deviation suggests a range from 28710.7 to 31254.5 for the following week.
Calculated Price Strength:
The strength of the trend in conjunction with specific averages.
News announcements can change the strength and directional attitude.
Weekly: Trend strength suggests trading between a range of 29443.02 to 30522.18 for the following week.
Price Projection:
The price action has generated a projection signal for the underlying.
Weekly: Price currently displays (if strength and attitude continue) a desire to move toward 31438
If strength and attitude continue, it could take between 2 to 4 trade periods (weeks) to reach the projection.
Indicators Summary.
A collection of technical indicators whose directional attitude has been summarized.
Weekly: Out of the cumulative indicators monitored, 70.00% are bullish, 10.00% are bearish, 20.00% are neutral
The CCI indicator trading strategy suggest the following:
Weekly: Strongly bullish - shorts closed.
Confirmation Signal
6 indicators combined to confirm entry/exit.
Weekly Bullish - Close/Cover directional trades, profit taking/trend switch in process.
Suggested stops based on long positions on weekly chart:
SAR value at: 29624.00
In consolidation and bullish (Consolidation Low - (ATR * .5)): 29445.25
Close - (ATR * 1.5) at: 28672.949999999997
IF this coming week closes below 29881, the open price projection for the DJI will be neutralized and the DJI will have no remaining upward projections.
This would be a break thru of the floor in a consolidation range.
The bears are entering the chart.
The price action is suggesting 29500, hopefully this is just an adjustment bottom as it prepares for the next move toward 31400.
However, use your risk management and stops wisely!
Don't be afraid to step out of the exit door to watch, even if it turns back around. Better to lose a little than hold and lose a lot.
Trend Analysis:
The current trend is defined by the last price and it's relationship to specific moving averages.
Check the MA strategy for more specific suggestions.
Weekly: The relationship to the primary trend MA is bullish. The price in relationship to the other averages suggest close current positions.
Price Action:
Weekly: The average price range currently is 873.1 points/ticks/pips. Prices are currently .7x the normal trading range. Prices are trading within the mean range for activity. This generally indicates a consolidation of strength/indecision in the market regarding direction.
Prices are currently caught in consolidation between 29881.8 and 31272.2.
While in consolidation the trade range may decrease to 539.514 points/ticks/pips.
Standard Deviation
Weekly: Standard deviation suggests a range from 28710.7 to 31254.5 for the following week.
Calculated Price Strength:
The strength of the trend in conjunction with specific averages.
News announcements can change the strength and directional attitude.
Weekly: Trend strength suggests trading between a range of 29443.02 to 30522.18 for the following week.
Price Projection:
The price action has generated a projection signal for the underlying.
Weekly: Price currently displays (if strength and attitude continue) a desire to move toward 31438
If strength and attitude continue, it could take between 2 to 4 trade periods (weeks) to reach the projection.
Indicators Summary.
A collection of technical indicators whose directional attitude has been summarized.
Weekly: Out of the cumulative indicators monitored, 70.00% are bullish, 10.00% are bearish, 20.00% are neutral
The CCI indicator trading strategy suggest the following:
Weekly: Strongly bullish - shorts closed.
Confirmation Signal
6 indicators combined to confirm entry/exit.
Weekly Bullish - Close/Cover directional trades, profit taking/trend switch in process.
Suggested stops based on long positions on weekly chart:
SAR value at: 29624.00
In consolidation and bullish (Consolidation Low - (ATR * .5)): 29445.25
Close - (ATR * 1.5) at: 28672.949999999997
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.