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DOW JONES starting new rally to 36000.Dow Jones (DJI) has been correcting inside a Channel Down ever since the March 29 Top. This was the top of the March rally that broke emphatically much higher than the 1D MA50 (blue trend-line), effectively confirming that this was the market bottom during the Ukraine - Russia war and the ongoing battle with inflation. During uptrend technical structures, short-term Channel Down corrections are considered to be Bull Flags that serve as opportunities to buy for the continuation of the long-term bullish trend. The last such Bull Flag pattern, after a market correction of similar structured magnitude, was in May 2020 following the March 2020 correction due to the COVID pandemic market crash. Note that in both cases, the 1D Death Cross pattern (when the 1D MA50 crosses below the 1D MA200 (orange trend-line)) was formed on the market bottoms. As you see, both Bull Flag patterns formed around the 0.618 Fibonacci retracement level and corrected as low as the 1D MA50 inside the Red Ichimoku Cloud. In 2020, shortly after the Bull Flag broke to the upside, the 1W MACD formed a Bullish Cross. On the current (2022) pattern, the 1W MACD is very close to forming that Bullish Cross, potentially meaning that we are currently on an early buy signal. When the Bull Flag broke to the upside, the 2020 pattern made its next Higher High just above the 0.786 Fibonacci retracement level. On the current pattern, the 0.786 Fib is just below 36000. That is our target on Dow for the medium-term. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
ULong
by TradingShot
3
DOW JONES key levels to watch that will determine the trendDow Jones has been trading within the 1D MA200 (orange trend-line) and the 1D MA50 (blue trend-line) for the past 5 days. The rejection from the March 29 High came despite closing above the 1D MA200, on a move that caught the market off guard. So far the price action resembles the blow-off top of January 05, which ended in a violent selling sequence. However this can be invalidated if the 0.382 Fibonacci retracement level (around 34000) holds, which is the new Buy Zone as mentioned on my previous analysis. If it holds, I expect Resistance 1 (35400) and Resistance 2 (35875) to be tested. If not, the January pattern will be confirmed and should test the Higher Lows trend-line of the February 24 bottom. Short-term traders can keep scalping by taking advantage the 1D MA200 - MA50 range for short-term profits. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
U
by TradingShot
DOW JONES broke its 1D MA200 but may consolidate for a whileDow Jones (DJI) broke today above its 1D MA200 (orange trend-line) for the first time since February 16. However, as the Ukraine-Russia war isn't yet over, this rally will seek reassurances from this week's high impact macro-economic reports, namely Wednesday's GDP and Friday's Nonfarm Payrolls. If the index closes a 1D candle above Resistance 1 (35150) then the next target will be Resistance 2 (35875). If not and the price shoots back below the 1D MA200, look for a multi-week consolidation within the 1D MA200 and the 1D MA50 (blue trend-line), which will be a good scalping opportunity. The new long-term buy Zone is around the 0.382 Fibonacci retracement level but a closing below it should seek support on the bottom's Higher Lows trend-line. However I have to give the advantage to the long-term bullish case, as the RSI just broke above a multi-month Lower Highs trend-line, which is an indication of a long-term rally for 2022. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
U
by TradingShot
2
DOW JONES enters decade long volatility when inflation happensThis is a long-term macro-economic chart on the 1M (monthly) time-frame, displaying Dow Jones (top chart) and the U.S. inflation rate (bottom chart). An interesting, yet alarming, correlation can be found on a decade-long horizon by comparing those two. As you see, the three previous times that the inflation rate made a Higher Highs pattern, Dow entered a +10 year consolidation phase of very high volatility where at least once, the 1M MA200 (orange trend-line) was touched. Interestingly enough, those decades coincided with the biggest wars after WW1. If this is indeed a pattern to follow, could this mean that the new volatile decade ahead will be marked by yet another big war (the Russia - Ukraine perhaps)? Will the 1M MA200 be hit again before 2030? History certainly seems to agree. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
TVC:DJI
by TradingShot
6
Dow Jones (DJI) | The best target to climb🔥Hello traders, DJI in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe. According to the count, the main waves 1, 2 and 3 of this process have ended and now we are inside wave 4. Wave 2 is the main correction shallow and short, so wave 4 is deep and long in terms of price or time. Given the structure that has been formed so far, it is more likely to be time-consuming. In the previous analysis, we assumed that the correction was in the form of a triangle or a flat, and said that if the last floor was broken, the type of correction would change again, and the type of correction would have changed to zigzag. It is probable that wave a is forming from this zigzag, which ends with another descent to the channel ceiling and wave b is formed. We think that to correct the temporal correction, wave b is a complex correction, and if it moves beyond Fibonacci 0.618, this analysis will be fielded. Also, if the bottom of the channel is broken down, wave a was longer and wave b is corrected in the form of a pullback to the ceiling of the channel. 🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏 ❤️Please, support this idea with a like and comment!❤️
TVC:DJI
by mahdisoltaninjad
1
DOW JONES fractal from China trade war points to a slow recoveryThis chart shows a lot of similarities of the current Ukraine - Russia war and the build up to it, with the 2018 fractal of the U.S. - China trade war. As this 1D chart illustrates, Dow Jones' build up to the peak of the U.S. - Russia trade war was on a Higher Highs trend-line supported by the 1D MA200 (orange trend-line). Then the index declined rapidly on Lower Lows, forming the bottom just after a Death Cross (crossing of the 1D MA50 below the 1D MA200). It was exactly then that Xi and Trump called a truce at the G20 summit. At the moment, the Ukraine - Russia war is displayed on those exact same Lower Lows, having broken below the 1D MA200 and with the 1D Death Cross pending (perhaps 1 - 2 days away). Notice how even the MACD fractals are fairly similar. Can the current peach-talks bring an end to the war and a bottom on DJI, the same way Xi and Trump did at G20? This week will certainly shows us. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
U
by TradingShot
6
Dow Jones: Playing the Triangle 🎼Dow Jones has joined an orchestra and is currently making use of our pink triangle. We expect it to play it a little bit longer until the bottom of the orange zone between 33518 and 32614 points, where wave Z in green as well as wave iv in orange should end and give Dow Jones new drive to take off, aiming for the resistance at 35521 points. Still, there is a 30% chance that Dow Jones could fall though the orange zone and below 32500 points. From there, it should drop further downwards.
CBOT_MINI:YM1!Long
by MarketIntel
1