Dj30
DJI 30 30KI have been waiting for this for such a long time. Finally we made a breath down so we can hop again. DJI world market stocks correction. -10% value. 100MA support. 38.2%FIB trump Rally. RSI oversold with signs for a correction. 78.6% FIB last leg of the move. Fundamentally everything looks perfect. Go for the 30K. 3 positions sizes with good RRR. Good Luck
DJI TARGET UPDATEUpdated DJI chart. Projecting this wave's rise to be equal to Wave 1 (73.38%). The b wave of Wave 1 was 26 months from the 2009 low. Wave 3 was 43 months (1.6 x Wave 1). Wave 5 is closing in on 26 months. Even if this up move is only finishing wave 3 (the alternate count that is super bullish), there still should be a nasty correction once target is reached. Bullishness is everywhere. The DJI has also overthrown its channel.
Dow Jones Industrial Average - Long Term Trading IdeaAnalysis is based on 80% technical and 20% fundamental analysis. If analysis goes well - expected duration for target is 1 - 1.5 year. Reward ratio 1 to 6.5. Volatility is greatest at turning points, diminishing as a new trend becomes established.
Little correction of the NDXLike we know the NDX and many other stocks are over valued. Based on the fisher index we are at current highs which need a correction. If I had any long position on the NDX I should sell them now absolutly. I don't really expect a fall of thousands of pips but a retracemend to around 3500 to 3800 around this range is possible. The bubble is not in tech but tech will feel this.
DAX/DJI bearish or not ?tp1 and tp2 or vice versa ?
Please see my first published idea . Is my point in there wrong ? With no healthcare/tax reform in US why is dow30 going up ?
On the other hand, the big boys - the whales - those who moves the markets can't go with the trend and with their huge money rapidly clearing the markets .
So they can match their big pile of money only on the countertrend - when cohorts of little fish are going upstream the whales are going downstream and vice versa .
In the end things come back where they must be even if for the moment they are running in the opposite way .
Therefore it may be first tp1 and then tp2 or vice versa .
But sooner than later I see a big downfall for both dji/dax because I don't see healthcare/tax reform in US done this year .
Even worst I have not seen such high opposition to an US president like against Trump .
dji30SO after a long pause after last short, I am seeing (yet again) wedgie that might end the current long run to the upside. currently short from 21365. See previous charts. I am expecting quite a lot of pullback. From the fundamental side: FED wants to dump its holding onto private investors, fonds ect.(FED buying different assets = up, FED selling different assets=down)
Strong potential reversal zoneRisky week ahead. There is considerable resistance from 2080-1950. If Hillary wins, there should be a great buy opportunity in this market the next few days.
First up is the 200 SMA just below last Friday's price. Next is two strong fib levels at 2062 and 2042.
If 1950 and the long term trend (purple line) breaks next week and closes below on the weekly chart, I would exit any longs for now.