SPX500Are we in a bull market correction? Or is this it & the big Crash is finally here? Have the chickens finally come home to roost?
What my video and comment below let me know what you think.
Djianalysis
Is Breakdown ahead? DOW 30 "DJI"This Analysis of DJ:DJI is not a trade recommendation, this study is purely for education purpose only, Do your own Study and Research before getting into any trades.
On analyzing the daily chart of DJ:DJI it is observed that whenever a Head & Shoulder pattern was formed, index gone through a breakdown most of the time.
This time also the pattern it forming is somewhat like a Head & Shoulder Pattern.
So what will happen next will be much interesting to observe.
Is a breakdown ahead? or not ?
Will history be repeated ? or not ?
Lets wait and watch...
DJI buy opportunity? Today i think the Contrarian Investing is a good idea: "Buy When There's Blood in the Streets".
DJI is up only 9.70% from the pre-pandemic level.
Next resistance is 35000.
Looking forward to read your opinion about it.
US30 Following 2008 Crash PatternI was watching the patterns in 2008 crash, and how it might translate into today's situation.
Although there are quite some differences between the 2 events. We are having a "war" at this point, and hoping it doesn't escalate.
Pray for peace in Ukraine.
That aside. I have the image of the 2008 Weekly candle chart pasted for easy reference against the present market candles. If you look up my previous ideas, I have mentioned the same.
In 2008, it was a head and shoulders, a break of the neckline, a re-test of the neckline and a further dive down.
In the current market, it is not as obvious, but we are making a lower low, on the weekly today (although there is about 6 hours left 'till market closes for the week).
As with a couple of weeks prior, a strong rejection bearish candle (1) led to a fall in 4 consecutive weeks.
2 weeks ago, we had a strong rally but held barely under the close of the strong rejection bearish candle (1) shown in orange highlights.
With a couple more hours before market closes, I do expect that current momentum holds the candle bearish.
Next week, we'll see how the market reacts. Should another bear candle follow, I would anticipate for price to reach lower into a key demand area around 33200.
The end of the Bull Market? A big drop is coming I do not trades stocks or indexes at all but technical analysis can be applied to any instrument so this is my view on the DJ Index.
The DJI has had an incredible run since March 2020 (18183) to the high of 36855 made at the beginning of the year. What were the reasons for this?
1) Low to no interest policy of the FED
2) Optimism of recovery from Covid and vaccine discovery.
3) Free money being available and a lot of amateur traders getting into the market
This Index however has run out of steam. Technically speaking, there are massive reversal signs that are in play since May 2021.
1) Weekly Overbought on RSI
2) RSI Divergence on the weekly chart
3) Head and shoulders pattern complete
On a fundamental side we have:
1) Interest rate increase to combat inflation
2) The China lockdown
3) An energy crisis
4) The sad invasion of Ukraine
The year long consolidation between 34000-36000 is a dire warning that the market is in consolidation for a big move. It is very unlikely to be up and we are looking at the intial levels of 30,0000 and then 26,000.
If the consolidation lasts for a few months, these levels will not hold and we will see a bigger drop. There is no timeline on the weekly chart, but let's revisit this chart in July, October 2022 and January 2023 to see where the market is at.
Bullish Wave 5 DJIDJI lately fail to make a new Lower Low but also Fail to make Higher High
since Bear Taking Control. But, this hasn't stop the bull to take control back.
If it really confirm break up the bullish flag.
DJI has potential to continue his rally to WAVE 5.
SPX500Decision time soon, are we in a 1,2 1,2 EW wave pattern that is bullish leading to 5,130-5,200 wave 3 target?
Or do we loose critical support now and start the bear market, nuke to 3,200.
I discuss in my analysis why I'm leaning towards option 1 where we hit W3 soon to 5130.
Whats your opinion? Comment below.. Thanks and BigMike loves you.
US30 (DOW JONES) DJIThere are three ways this could possibly play out. Next week the market may want to retrace to continue down some more taking out some more lows. The market may want to finish going down and then turn around and head back up, or the market may want to turn around from its current position. I'll be observing movement during opening to get a better analysis to simply react from price action.
Dow Jones (DJI) Logarithmic Macro Outlook Log target: 48k
The dotted red line is adjusted for inflation. The stock market cycles are lengthening. Continued downside till EOM followed by a final melt-up rally that will bring the end of grand wave 5.
ETA: Q1 '23.
Dow Jones PUPMING 35200Dow will pump till 35200 resistance Because of long sleep in Range mode , And its time to breakup and hit The TP's Good Luck Guys
US30 (DOW JONES)I'm going to have to follow market structure with this one. There is so much liquidity to the upside, but we have some lows to be taken out to the downside as well as imbalance to be mitigated. Of course, if the market shows otherwise go with the flow. Waiting for the market to go up but we have not broken the previous high yesterday or overnight. Not trading advice just an observation. Best of luck.
Go long on DJI TVC:DJI
Right now DJI is at a very good level to take entry.
Having good channel breakout and consolidating at a high level if it closes above 34900.
(For Education Purpose only)
Projectile Formation "DJI"See below attached chart of DJ:DJI for the projectile formation, which was formed during the years 2006 - 2008
This analysis is not a trade recommendation. this is only my point of view.
Further study and research needed
Will History repeats itself???
Breakout or a Fakeout?Next week is gonna be so crucial for DJI, a bearish reaction from the 200 daily MA is expected but the breakout of this bull flag could trigger longs after a retest of the descending channel's resitance line.
If it is a fakeout, we will see a massive sell off and create a new lower low.
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!❤️
US30 bias for the week (UPDATE)HELLOOOOOO PIPPIN TRADERS!!! Just a small update on the analysis sent earlier. We are still looking for the short on INDICES in general except for UK100. Trade with care. Do trade with risk management in mind. HAPPY TRADING!!!!
DJI in previous wars and recent crisesIn this analysis of the Dow Jones Industrials I try to explain how the index has behaved during wars, inflation and its subsequent outcome. We are currently in the Ukrainian war and we must be very attentive to be able to carry out strategies that allow us to obtain high returns as history has indicated.
Best regards.
@MartinTopTrader
Dow Jones Industrial Average index trading ideasThe DJI has been moving sideways since September 2021, recently the Russian-Ukraine conflict occurred and the price went down and broke the support zone (33700 - 34000) but soon the price bounced back showing one of the best Bullish candlestick patterns ever, especially when it happens in a support zone.
For me, this is how I would trade the US stock market based on this market behavior ... as long as the price is moving in the sideways zone shown in figure (34000 - 36500) I would be in a "Buy Low Sell High" mentality. As soon as the price breaks the 36500 zones to the upside and retests I would change the trading mentality into "Buying high Selling Higher" and start following trends in the market.
DJIA - Probably a good time to LONGYes my future bias is DOWN, however, in 1929 we had a blow off top and in todays price that impulse blow off top would start from around $32-33k for DJIA. I am thinking we have one more leg up left in the Dow Jones!
Dow Jones DJIIn my POV, Dow has done it's WAVE 5, which is now lead him to a correction wave.
As we could see, there's also a Double TOP pattern supported by Divergence from MACD and RSI indicator.
Now, it's on a retest phase. If it fail to climb, i am looking forward to that area.
Disclaimer ON
"I might be wrong"
