Introducing our Market Breadth Indicator, specifically designed for traders looking to gain a deeper understanding of the overall health of the Dow Jones Industrial Average (DJIA). This indicator tracks how many of the 30 Dow Jones stocks are trading above their 200-day Exponential Moving Average (EMA), giving you a quick snapshot of market momentum. Traders...
Last week, while Dow Jones (DJI) was still under its 1D MA50, we called for a major rally, as technically the 5-month Channel Up has just priced its new Higher Low: The index has now almost reached the Target of the first Bullish Leg of this pattern, pointing to a potential relief next. On the larger picture however (1M time-frame), we had posted an article...
Dear Colleagues, because the big wave “4” (38549) has completed, now I believe that the price is in wave “5”. This means that the price probably has not yet completed the upward movement. I expect a small correction, then a continuation of the upward movement at least to the 40900-41000 area. Manage your capital correctly and competently! Only enter trades based...
Take a look at our analysis for DJI. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 40,668.09. The above observations make me that the market will inevitably achieve 40,100.63 level. P.S We determine oversold/overbought condition with RSI...
Overview The analysis takes a broader perspective by examining the 5-day chart instead of the 1-day, leading to clearer insights, with wavetrend analysis and On-Balance Volume (OBV) indicating a pattern similar to that observed in November 2021. Technical Outlook Short-Term (4-hour Chart) - Current State: DJI appears overextended and due for a correction. -...
BLACKBULL:US30 has been exhibiting signs of bearish pressure, despite recent upward movements. The chart shows a significant decline below the ascending trendline. The recent upward movement appears to be a pullback, potentially setting up for further declines. Two key resistance zones have been identified on the chart, where the index may face renewed selling...
Dear Colleagues, in the last forecast the price almost reached the target 41680, but sharply started to decline. This means that the price is in a complex correction (WXY). I expect that the price has almost finished the downward movement in wave (Y), and will start an upward movement soon. The level where the price may come to is 38799, but in general I expect an...
Last week's decline DID NOT BREACH THE APRIL LOWS . To be 100% objective, as long as price is above the April lows, we still retain the ability to make one more high. That is the purple arrow on the above chart. Price will need to breach 5587 in pretty much a straight shot now, as this would be a wave 3. However, that is not my primary analysis. My primary...
Last week (August 07, see chart below) we made a long-term case of why Dow Jones (DJI) is poised to technically start a new aggressive rally 'right under our nose' and before that (July 25, see chart below), why at the time the correction wasn't over: As you can see, the index found support on our low tier near the 1D MA200 (orange trend-line) and as the...
Dow Jones Industrial Average has not shown many signs of slowing in its growth. Here is a bearish biased shape playing out on the weekly chart in the form of a rising narrowing wedge. Strictly PA, strictly structure. Keep an eye on this. Looking for a Macro correction to reach to the .236 or the .382 on a corrective movement. This is a follow up to a...
Hey Traders, in today's trading session we are monitoring US30 for a buying opportunity around 38900 zone, US30 was trading in a downtrend and currently is in a correction phase in which it is approaching the retrace area at 38900 support and resistance zone. Trade safe, Joe.
Pair : DJI - Dow Jones Description : Completed " 1234 " Impulsive Waves Break of Structure RSI - Divergence Exp FIAT as an Corrective Pattern in Short Time Frame Fibonacci Level - 38.20%
Consistent with our macro approach to investing (particularly with stocks), we continue to address the recent stock market correction by examining similar behavioural patterns of the past. It was 10 months ago (October 11 2023, see chart below), when Dow Jones (DJI) was under another short-term turmoil phase that turned out to be exactly that, short-term: As...
Hey Traders, in today's trading session we are monitoring US30 for a buying opportunity around 38400 zone, US30 is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 38400 support and resistance area. Trade safe, Joe.
■Outlook of DJI on 1W chart. We are probably in sub-wave (c) of wave A. I think the sub-waves of wave A might form an Expanded flat or Running flat. If this scenario is correct, it will probably crash.
on 31 July, heads up given about D-day. That was based simply of a few compelling technical factors observed. Outcome was that there was a blow out rally, followed by an awesome Dark Cloud Cover and then a confirmation bearish candle that gapped down and tanked the week to a low. The spike in volatility was just so awesome and it caught many off guard,...
Dear Colleagues, I believe that the price is still in an upward movement. At the moment, the higher order wave “4” is finishing forming. Either it has finished forming, or it will renew the minimum in the support area of 40071. After that I expect the continuation of the movement in the wave of higher order “5”. So I expect the price at the level of the maximum of...
Traders have made the ultimate mistake, they were caught sleeping on the steering wheel. And after missing the trend, they attempt to enter it again, only to realize that they have trapped themselves. A question arises: Were they sleeping or are they performing a suicide attack? SPX is like a sharp kamikaze plane. Perhaps of Japanese origin, closing in to Perl...