DOW Elliott Wave Analysis for Wednesday 27/09/2023The primary expectation is now that wave ((b)) is finished and that we started wave ((c)). Wave ((c)) should unfold as five waves.
DOW
DOW Elliott Wave Analysis for Tuesday 26/09/2023The primary expectation is now that wave ((b)) is finished and that we started wave ((c)). Wave ((c)) should unfold as five waves.
DOW JONES Approaching a critical Support cluster.The Dow Jones index (DJI) has broken below the long-term Higher Lows trend-line and has transitioned into a Channel Down. The current Lower Lows leg is approaching not just the bottom of the Channel Down but more importantly the 1D MA200 (orange trend-line) and the 1W MA50 (red trend-line). The latter in particular provided a Double Support Bounce on (June 01 and May 25) and hasn't been broken since March 29.
We are waiting for the first 2-day green 1D candle streak in order to buy and target (at least) the 1D MA50 (blue trend-line). Projected contact at 34450 (target). The 1D RSI has hit the 34.80 Support, which provided the bounce on the August 24 bottom.
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DOW Elliott Wave Analysis for Monday 25/09/2023The primary expectation is now that wave ((b)) is finished and that we started wave ((c)). Wave ((c)) should unfold as five waves.
Dow Jones Index (US30): Important Breakout & Bearish Outlook
An important thing happened on US30 Index.
First, the index broke and closed below a major rising trend line
and closed below that on a daily.
Second, a key horizontal support was also broken yesterday.
The broken support and a trend line compose the expanding sell zone.
I suggest shorting the Index from there, expecting a fall to 33700 support.
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Dow Jones Index (US30): Pullback Trade
US30 is on a key horizontal support.
The market looks quite exhausted after a strong bearish movement.
I believe that due to the absence of important fundamentals today,
the index may bounce to 34250 level.
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DOW JONES crossed below the 6 month Channel Up.Dow Jones is waving a strong bearish break out signal as it crossed under the bottom of the 6 month Channel Up today and most likely will close that way.
This means that the trend is shifting to bearish on the medium term as a new Channel Down could emerge.
Trading Plan:
1. Sell on the current market price.
Targets:
1. 33840 (MA200 (1d)) and if it breaks after a small bounce target extension 33200 (bottom of Channel Down).
Tips:
1. The RSI (1d) is trading in a Channel Down of its own. Last time it did was from December 2022 to March 2023 and as you see that price action is similar to today's. It bottomed some way under the MA200 (1d), which is consistent with our target extension.
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Notes:
Past trading plan:
DOW Elliott Wave Analysis for Thursday 21/09/2023The primary scenario is now calling for a triangle as a wave ((b)). We are still missing the (e) leg before we break down as a wave ((c)).
DOW JONES Buy signal to 35300 short termDow Jones crossed again over the former Falling Resistance after making a bounce near the 1day MA100.
This is the third time this level holds in almost one month.
This keeps the long term Channel Up pattern intact.
The 1day RSI is on the exact level of the June 2nd break out, showing a high level of symmetry of waves inside the Channel Up structure.
Buy and target the 0.786 Fibonacci level (35300).
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Dow Jones 4hr TF
The Dow Jones has recently breached a bearish flag pattern, leading me to anticipate a shift towards a bearish trend following nine consecutive weeks of bullish performance. There are several factors aligning to suggest that the Dow Jones may embark on a downward trajectory. Meanwhile, the outlook for gold appears favorable for long positions, signaling a potential shift towards a bullish trend.
DOW Elliott Wave Analysis for Wednesday 20/09/2023The primary scenario is now calling for a triangle as a wave ((b)). We are still missing the (e) leg before we break down as a wave ((c)).
DOW JONES; Main ASCENDING-WEDGE, Crucial Completion Incoming!Hello,
Welcome to this analysis about the DJI - Dow Jones Industrial Average Index. An important index in the stock market and as we have seen an absolute recovery since the heavy corona breakdowns that hit global financial markets at the beginning of the corona pandemic last year there developed unhealthy movements within the market as the stock market moved to the upside with a vast majority of indices while the real economy still not recovered that fastly and in this steep manner as it was the case in the stock market, in fact in many places the real economy is still heavily damaged and besides that there is a accelerating inflation going on that can be a source of a potential bear market to set up, especially when looking at this whole determination the possibilities for a pullback scenario are quite high in this measurement. Therefore, when looking at my chart we can watch there how the DOW is building this main ascending-wedge-formation which is certainly a bearish reversal formation and as the DOW already completed the whole wave-count within this formation and after that completion pulled off the upper-boundary there is not much remaining for a completion of this formation which will happen when the DOW bounces below the lower-boundary and from there it will be the origin for a continuation to the downside with the DOW pointing the 32500 USD level marked in my chart in blue, when this level has been reached the situation needs to be elevated again and the DOW needs to show if it manages to reverse from there on or just sets up for a bearish continuation to the downside.
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"There are many roads to prosperity, but one must be taken."
Information provided is only educational and should not be used to take action in the markets.
DOW Elliott Wave Analysis for Tuesday 19/09/2023The primary expectation is that we will go back into the wave ((b)) area to take out the previous high. That would mean we get an additional correction up as a wave ((b)). This move should be followed by further downside as a wave ((c)).
DOW Elliott Wave Analysis for Monday 18/09/2023The primary expectation is that we will go back into the wave ((b)) area to take out the previous high. That would mean we get an additional correction up as a wave ((b)). This move should be followed by further downside as a wave ((c)).
DOW JONES: Rejected on the 2week Resistance. Any change to recovDow Jones is having a sharp opening pullback on the 1H timeframe but remains on a bullish 4H technical outlook (RSI = 58.586, MACD = 126.970, ADX = 41.565), as the HL trendline of the Bullish Megaphone is holding. The reason for the pullback is the rejection on the R1 Zone (35,100 - 35,030). A 4H MACD Bearish Cross will most likely take the price to the HL trendline and the 4H MA50 (TP = 34730) in order to test the buying accumulation at the bottom of the Megaphone.
A buy signal consists over the R1 Zone, whose target will be the Megaphone's HH trendline (TP = 35,400).
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DOW Elliott Wave Analysis for Friday 15/09/2023 (+ Higher TF)For traders (lower timeframe):
The primary expectation is now that we will go back into the wave ((b)) area to take out the previous high. That would mean we get an additional correction up as a wave ((b)). This move should be followed by further downside as a wave ((c)).
For investors (higher timeframe):
In the higher timeframe, investors should wait for the completion of the abc pullback. The wave 2 area is a nice buying opportunity for investors.
DOW JONES, Clean Breakout Of The Descending-Triangle!________________________________________________________________________________________________
Hi Traders, this is a signal I give to you for free today. The DOW INDEX has formed a clear triangle breakout
with volatility and completed above the 400-EMA where entry with pull back is possible.
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ENTRY: 27800-27300
MINIMUM TARGET: 28500
STOP LOSS: 26300
MINIMUM RISK REWARD: 1
REASON: Descending-Triangle Breakout
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In this manner, thank you for watching and support for more market insight.
Information provided is only educational and should not be used to take action in the markets.
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D-JONES, The Gap Filled Properly And Sourced High Volatility!Hello Traders Investors And Community,
Welcome to this update-analysis where we are looking at the DJIA 4-hour timeframe perspective, the index has recently shown high volatility movements to the downside which was expected after the gap-fill and the ending of the wave-count as pointed out previously this move now confirmed and the index testing the back-up-zone if you did not see this analysis already I highly recommend it by going on my account and watch it to have a full-depth-overview. Now there are important mechanisms the index has to show when considering a possible recovery there are significant levels to confirm, in this case, I detected the important zones and possible outcomes we should anticipate currently with the index destinies.
Looking at my chart you can watch there the index confirmed the preliminary short-zone bearish to the downside and now testing the blue back-up-cluster where several supports lying, firstly the EMA and secondly the upper boundary of the channel besides that it is a support zone formed by past price action. This cluster is highly important to hold when considering a bullish continuation and test of higher levels again because when the cluster does not hold and price moves below bearishness will increase till there is solid support found where the price can stabilize again, for a continuation the index needs to confirm the cluster and consolidate there as it is seen in my chart, a possible continuation can be confirmed when the index moves to the 28800 level again.
The index is in a situation where it has to show if the support levels can hold sustainably or lower levels will visit next times, when the index does not manage to stay above the back-up-cluster and closes below the next level to considered to be visited is the 27.000. Fundamentally speaking the decline was supported by the big divergences still existing in the real economy and stock market where the real economy is still damaged by corona increase it is important that these two factors grow together to provide a healthy market environment. Next times will show how the index can possibly stabilize however we should not keep the bearish case by side which will follow up when the index closes below the cluster, therefore it is inevitable to wait on the mentioned confirmation before going in the proper direction.
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"The ambition to transform opportunity into hold remains the most significant tool for a trader."
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US30USD: Potential Right Shoulder and Bearish Gartley at HOPThe Dow Jones Industrial Average is forming a Potential Right Shoulder within an Ascending Broadening Wedge pattern and in this Right Shoulder, we can see a Potential Bearish Gartley at the HOP level with PPO confirmation. If it plays out, we will confirm a Partial Rise and increase the chances of a full on breakdown below this wedge pattern which at the very least would take us to the lows of the entire range.
DJIA, Flag-Formation Confirmed, Continuation Ahead!________________________________________________________________________________________________
Hi Traders, this is a signal I give to you for free today. Support will be great with a like and follow when useful.
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ENTRY: 27820-27950
MINIMUM TARGET: 28250
STOP LOSS: 27410
MINIMUM RISK REWARD: 1
REASON: Bull-Flag Confirmation
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In this manner, thank you for watching and support for more market insight.
Information provided is only educational and should not be used to take action in the markets.
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DOW Elliott Wave Analysis for Thursday 14/09/2023The primary expectation is now that we will go back into the wave ((b)) area to take out the previous high. That would mean we get an additional correction up as a wave ((b)). This move should be followed by further downside as a wave ((c)).
DOW: Downhill ⛷️Within the turquoise B wave, the Dow is currently in a downtrend. We expect this decline to continue to the turquoise target zone between $51.53 and $48.47, where we expect the reversal to occur. If the bulls prevent a decline until then and push the price above the resistance at $56.49, which we consider to be 34% probable, the price would establish the high of the magenta wave alt. a little higher.
DOW JONES 1st 1W Bullish Cross since 2016. Can we see 42k next?Dow Jones (DJI) is forming this week the first MA50 (blue trend-line) / MA100 (green trend-line) Bullish Cross (when the former crosses above the latter) on the 1W time-frame since September 2016 (assuming January/ February 2021 was flat due to the COVIC flash crash).
This on its own is a major long-term buy signal, especially since the 1W MA50 has been supporting since March. As you can see the 2022 - 2023 price action is very similar to the 2015 - 2016 sequence. Both fractals started on a Bear Cycle under Lower Highs, which bottomed after marginally breaking below the 1W MA200 (orange trend-line). The new Bull Cycle was confirmed after the price broke above the Lower Highs trend-line and turned it into a Support being formerly a Resistance. The 1W MA50/100 Bearish Cross signified the bottom. Notice how even the 1W RSI and 1W MACD fractals are identical with their respective Higher Lows.
It appears that Dow is currently past the initial Channel Down and on the Circle pattern, which in 2016 was the final consolidation before a hyper aggressive rally that topped in January 2018. Before that top it reached the 1.5 and 1.786 Fibonacci extensions.
We treat the current pull-back as the last opportunity to buy this upcoming rally while the price is still that low. Having relatively low expectations, we expect to see at least 42000 (1.5 Fibonacci) by the end of Q1 - start of Q2 2024.
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