Its exactly as described in the older publish from today morning DJI comes to that the short trendline resistance (Orange color) and go south at the moment. But that is to watch carefully. maybe we will have later today or tomorrow a jump above this line. If that will be the setup short will be going wrong. But at the moent its still short.
The Dow Jones turned bearish yesterday, indicating that a meaningful top could be in place at 24860 levels, but be prepared for yet another high around 25100 levels as well. Kindly note that a major price resistance is seen at 26000 levels, which is potential Wave (2) termination as labelled on the chart view here, and prices should ideally stay below that, to...
The Dow Jones hits fibonacci resistance at confluence around 24000 levels. It could just be a matter of time, before bears take control back and continue lower, as Wave iii progresses. Believe it or not, the wave counts are clear as highlighted here, and a potential higher degree Wave (3) has been unfolding since the 26000 levels. Furthermore, a lower degree wave...
The Dow Jones inched higher to 24000 levels yesterday before closing at 23879 levels in the spot segment. If the earlier wave counts discussed were correct, the Wave iv projection stands invalid for now since prices penetrated Wave i termination at 23881 levels. As discussed yesterday, the structure still continues to remain bearish and in fact a lower degree wave...
The Dow Jones managed to rally and close higher yesterday, making intraday highs at 23675 levels. It seems that the corrective rally (3 waves) that began from 21800 levels earlier might have terminated at 23675 levels, just ahead of 24000 as discussed earlier. We could still label this lower top as a potential Wave iv termination, and until prices remain below...
The Dow Jones is seen carving out Wave iv at a lower degree with Wave (3) as labelled on the daily chart view here. Believe it or not, the rally on Friday which saw Dow Jones closing on a higher note at 23430 levels, should not be considered as a change in trend. It could still be carving out a wave iv, as a potential zigzag and resume lower anytime soon. If the...
The Dow Jones produced an intraday rally towards 23327 levels yesterday but it still remains vulnerable to turn lower one more time and print below 21400 levels. Looking at the wave counts, the Dow Jones seems to have completed Waves (1) and (2) at 24120 and 26000 levels respectively. Since then Wave (3) has been in progress lower and has produced 4 waves. The 4th...
The Dow Jones is progressing well into its Wave (3) at a higher degree as labelled here. Within the 3rd wave, a lower degree wave iv was unfolding last week and we had discussed the possibility of its termination around 23200/300 levels. Last Friday, Dow Jones managed to hit 23365 levels intraday and closed around 23000 levels as seen on the chart displayed here....
Cant get much better than how this trade I spanning out.
All I have to say is. R.I.P US economy. I don't care about the fundamentals only that the effects of the fundamentals are forecasted into price. Price tells mee all I need to know about the fundamentals and I don't even need to look at the news to tell you that we're in for a rough time. Look so very like Wyckoff distribution on the weekly. 6monthly chart looks...
DJI (DOW JONES) should be retracing to Fibonacci retracement level of 0.618 as per the blue arrow. Also Stoch RSI is going is also on the up See previous analysis PLEASE LIKE, COMMENTS AND FOLLOW FOR MORE
There is a negative divergence for the RSI; also it seems to form a head and shoulders pattern. There is quite a probability that monthly candle might form an engulfing bear, if you see that, it is a good sign of entrance to bear market.
DJI has a massive Bearish Divergence on the weekly. RSI shows a top rejection. Looks like the perfect storm for an economic crisis.
Dow Melt Up ? How much inflation can they stuff into stocks before investors & traders wake up to the fact that PE ratios are in bubble territory !
DJI is at a strong resistance and the top of a wedge! We can assume the price will respect the wedge and target the bottom of the wedge. The trade is how ever risky since there is no real pattern to confirm we will fall to bottom of the wedge expect the fact we are hitting resistance. If you want to be safer wait for the smaller wedge to break that is withing the...
The question is not if it's going to drop that hard, the question is if it's gonna honor the fibs and provide a good entry. When it hits the fan, don't say you weren't warned.
The DJI had its ATH on jan 26 and has been since in a correction wave - abcde- . Also there is a falling trend line, combined out of the intermediate peaks. And the indicators RSI and ADX are signalling more weakness. All together I think the correction can lead the DJI to 22.380 pt where we find support (fib retracement 78.6%). On the timetable this should be...