DJI Potential for Bullish Continuation | 24th November 2022On the H4 chart, the overall bias for DJI is bullish . Furthermore, the price is above the Ichimoku cloud , indicating that the market is bullish . Looking for an immediate buy entry at 34106.01, where the previous swing high is. I have set a relative safe stop loss at 33063.05, where the 78.6% Fibonacci line is. Take profit will be at 35492.22, where the previous swing high is.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
DOW
Dow Jones Industrial Average Index UpdateFirst, we look at the trade idea I just published for the SPX as these two are closely related.
S&P 500 Index Update
We can see all the same signals...
These things they move in exactly the same way.
Just like Bitcoin and Ethereum (the "Merge"), the same goes for the SPX and DJI.
We have the major downtrend which has already been broken here.
So my speculation about the SPX upward corrention to prolong/go higher is true/possible, as it will follow the DJI.
We can see the DJI having a very strong bullish bias on the daily timerame already trading above MA200 and EMA300.
The next resistance here is showing as the August 2022 high/peak price.
We already see the DJI stopping short of this level today.
If this resistance can be conquered, the doors open for 35,400+ which at the same time tells us that the SPX can also grow.
Now, we see a divergence happening with the RSI, bearish divergence and we also see a potential for a sudden drop.
The weekly and monthly timeframes are full bullish.
The bulls have definitely the upper hand here...
The August 2022 resistance will be the next decision point.
Thank you for reading.
Namaste.
DOW JONES Too close to the August 16 High!It has been almost 2 weeks since Dow Jones (DJI) broke above the top (Lower Highs trend-line) of the Bearish Megaphone pattern that it has been trading in since the start of the year and the beginning of the 2022 correction. At the same time it broke above the 1D MA300 (yellow trend-line), which as we've mentioned numerous times was the barrier for a long-term bullish trend restoration:
The index is now very close to making another major bullish break-out as it is very close to the 34300 Resistance (1) which was formed by the August 16 High, which was rejected on the (former) Lower Highs trend-line and 1D MA300. If broken it will be the first time in 2022 that Dow Jones will break a Lower High. In this case, we will automatically target 35550 (Resistance 2), which was formed by the April 21 (Lower) High.
If the price gets rejected though, the index should seek the short-term Supports of 1) the 4H MA100 (green trend-line), which during the July - August and March - April counter rallies was the supporting level (when broken, the downtrends started) and 2) the 1D MA200 (orange trend-line), which held as Support for the first time in a year on November 10. Keep in mind that during Dow's bull rallies, the 1D MA50 (blue trend-line) is typically the Support.
On the downside, watch the 1W RSI, which has been glued to the top of the Channel Up in the past two weeks. Failure to break above it, should accelerate the sell sentiment towards the 1D MA50. The trigger for that can be a Bearish Cross on the 1D MACD, which is very close to be formed. All prior Bearish Cross in 2022 have kickstarted major sell-offs.
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DJI Potential For Bullish ContinuationOn the H4 chart, the overall bias for DJI is bullish. To add confluence to this, price is above the Ichimoku cloud which indicates a bullish market. Looking for a retracement buy entry at 32818.16, where the 50% and 23.6% Fibonacci lines are located. Stop loss will be set at 31711.78, slightly below where 2 of the 38.2% Fibonacci lines are located. I am looking to take profit at 35411.35, where the previous swing high, 78.6% Fibonacci line and -27.2% Fibonacci expansion line are located.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
DJI Potential for Bearish Momentum | 23rd November 2022On the H4 chart, the overall bias for DJI is bullish , with price above the Ichimoku cloud . However, we intend to make use of the pullback. As a result, price has tapped into our sell entry at 34281.36, which is the previous swing high as well as the 78.6% Fibonacci line. The stop loss will be set at the previous swing high of 35492.22. The take profit will be set at 32135.41, which corresponds to the 61.8% Fibonacci line.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Dow Jones: Down UnderAfter moving sideways for a while, we're expecting Dow Jones to drop into the orange target zone between 32 762 and 31 980 points to complete wave iv in orange in order to push the trend back up to the orange target zone between 34 305 and 35 466 points. After managing to pull itself up there to compete wave (i) in blue, we expect the course to drop back South.
In our alternative scenario, Dow Jones can't turn the trend up this early and continues to drop below the support line at 31 738 points. After crossing this mark, the course should sink further into the blue zone between 31 331 and 29 789 points until wave alt. (iii) in blue hits its low before turning back up to move North. blue hits its low before turning back up to move North.
DJI Potential For Bullish RiseOn the H4 chart, the overall bias for DJI is bullish. To add confluence to this, price is above the Ichimoku cloud which indicates a bullish market. Looking for a retracement buy entry at 32818.16, where the 50% and 23.6% Fibonacci lines are located. Stop loss will be set at 31711.78, slightly below where 2 of the 38.2% Fibonacci lines are located. I am looking to take profit at 35411.35, where the previous swing high, 78.6% Fibonacci line and -27.2% Fibonacci expansion line are located.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
DJI Potential for Bearish Momentum | 22nd November 2022On the H4 chart, the overall bias for DJI is bullish, with price above the Ichimoku cloud. However, we intend to make use of the pullback. As a result, we're looking for a sell entry at 34281.36, which is the previous swing high as well as the 78.6% Fibonacci line. The stop loss will be set at the previous swing high of 35492.22. The take profit will be set at 32135.41, which corresponds to the 61.8% Fibonacci line.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
DJI Potential For Bearish ContinuationOn the H4 chart, the overall bias for DJI is bullish. To add confluence to this, price is above the Ichimoku cloud which indicates a bullish market. Looking for a buy at 32818.16, where the 50% and 23.6% Fibonacci lines are located. Stop loss will be set at 31711.78, slightly below where 2 of the 38.2% Fibonacci lines are located. I am looking to take profit at 35411.35, where the previous swing high, 78.6% Fibonacci line and -27.2% Fibonacci expansion line are located.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
DJI Potential for Bearish Momentum | 21st November 2022The overall bias for DJI on the H4 chart is bullish, with price being above the Ichimoku cloud/ However, we intend to utilize the pullback. So we're looking for a sell entry at 34281.36 , where the previous swing high and the 78.6% Fibonacci line are. The stop loss will be set at 35492.22, where the previous swing high is. The take profit will be set at 32135.41, which is where 61.8% Fibonacci line is.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
DOWJONES 4hour : be careful from sell , upper target is 360002 scenario on dow possible
1- if it can break high door will open to 36000
2-in bad scenario with bad news it can go down to fibo50 then start wave2 of uptrend WE MUST BUY IT ABOVE GREEN ARROW AFTER PINBAR APPEAR IN 1HOUR,4HOUR,DAILY CHART and hold it 7-8 day to 36000 area
if you have old sell, close them soon as soon or hedge them with higher size: 1.5*total sell size
ALERT : NEW YEAR WILD RALLY CAN START SO DONT PICK SELL ,LOOKING FOR BUY dont forget like gold DOW love buy and upside trend
good luck
SPX / ES - Get Ready for a Head Fake, and an OpportunityIn my recent calls, I have made predictions for Apple to set new all time highs, Tesla to print at least $250 again, and Nasdaq to 14,000.
However, whenever price action fails to follow suit with expectations, one must revise, revise, and revise again the situation at hand.
With this week's price action topping on Tuesday after what should have been a significant bull catalyst in the lower CPI print, causing SPX and Nasdaq to go as wild as the Dow has, it can only be ascertained that the makers not only do not want to go higher, but are likely to head lower, and they'll be in a hurry.
I have been simultaneously conflicted by the fact that I do expect SPX and Nasdaq to run to their COVID lows with the fact that there isn't any news primed until December and timing is awkward with the next FOMC being a month away and US Thanksgiving being late next week.
There's a significant fractal from June daily bars that's very similar to where we're at now, where we ultimately made the Low of the Year, which held until September, and then October.
The problem is that everyone is expecting a dump, because although there really isn't any fear and nobody is actually positioned bearishly, the sentiment is still bearish.
I said on Twitter the other day after hearing that Michael J. Burry from Big Short 2008 GFC fame said "You have no idea how short I am," that these types of guys are allowed to tell you what is going to happen, but not when it is going to happen or where it is going to happen.
They're allowed to speak the truth insofar as it makes retail offside.
If they were to really reveal the truth that they know, they would disrupt the markets and their access to credit facilities and swap lines would be revoked.
What I mean by the above is that for retail, you're going to be baited into going hard on puts and shorts, but this isn't yet the moment of impact everyone who believes interest rates and recessions mean SPX 2,000 straight line no bounce have been waiting for.
Meanwhile, although the VIX isn't showing much in the way of signs of life, the put to call ratio is as high as it's been since 2008 quietly starting around Wednesday. The US Dollar Index has also started to show poppyness after running a key low.
Signals are great, but price action has to confirm, and as of now, it indicates that the indexes and stocks do not want to trade higher.
Thus, what I believe and am expecting to happen is that indeed we do dump, and violently, and fast. It is imminent. Perhaps as early as Sunday futures open.
It will be scary. However, what I think is that the dump will really be a bear trap. It won't go as low and it won't stay as dipped as everyone is expecting. When it starts to bounce, it will bounce a lot, and hard, and catch people off guard.
This time, there won't be a retrace.
Thus, what I am anticipating is for the SPX to print at least a low 3,600s tape. More likely, I believe SPX will actually trade back toward 3,500, but not take the low out.
What I want to tell everyone is this: You need to stop listening to the Stocktwits and the Twitter and the Discord and the WhatsApp feeds. You need to unfollow these guys that are filling your head with notions about interest rates and yield curves.
The more you fill yourself with those concepts, the more you will be manipulated into trapping yourself offside and the more you will be unable to take advantage of the real move.
The more you will blow your accounts.
The reason is, there is a logic behind why bear markets rally so hard. A bearish market rallies, simply put, because smart money doesn't sell low like you do. They sell high.
So they sell high, buy back low, sell high, buy back low, and the market has to be engineered around this, or they won't participate, because losing money means death.
The next bear market rally is going to be like 40%, and it's going to be rather impressive. Bears will be so angry, not realizing that the rally's climax is the "Big Short" they've long been awaiting.
Allow me to issue my own "Cassandra": Be warned, for when all the stocks and the indexes are high again, the day the Chinese Communist Party will be thrown out from this world is during Beijing time, not New York time. It will happen in the middle of the North American's night.
It will catch very literally almost everyone off guard. The limit down when the NYSE opens that day will be 15% on indexes and it won't be the bottom, it won't bounce.
That day is very close. Nobody expected the USSR to fall, and yet Gorbachev and friends threw it away anyways.
China's traditional 5,000 year dynasty culture is mankind's only hope for a future, and it will absolutely be not only preserved, but resurrected.
DOW JONES Holding the 1W MA50 could repeat the 2016/17 rally!This is the price action of the Dow Jones Industrial Average Index (DJI) since the 2008/09 Bear Cycle of the Housing Crisis. On the log 1W chart, we can fit it within a Channel Up pattern, with the January 2022 top as its latest Higher High. As you see there is considerable room to fall and touch the bottom (Higher Lows trend-line) of the Channel Up but on the Sep 26 - Oct 10 1W candles, the 1W MA200 (orange trend-line) acted as Support and pushed the price back above the 1W MA50 (blue trend-line).
It is important to mention that while the candle action was on Lower Lows, the 1W RSI was on Higher Lows, i.e. on a Bullish Divergence. The last time we had all this conditions fulfilled together, was during the August 2015 - February 2016 correction. As you see, the RSI was on Higher Lows while the price Double Bottomed, found Support on the 1W MA200 and rebounded back above the 1W MA50. The 1W MA50 then turned into a Support and never broke and that gave way to the very strong 2016/17 rally.
You can see that its bars pattern fractal (black) fits almost perfectly on the late 2021/2022 price action. As a result, we could expect a gradual recovery into a strong rally in Q3 2023, especially if the 1W MA50 holds as a Support. If not, the 2022 Channel Down (red) can give more Lower Lows until Dow hits the bottom of its 14 year old Channel Up.
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djia in 5th wave of parabolic rise... targets 100k +Historical DJIA chart with all the 4 parabolic "basings" highlighted with boxes...
therefore we are currently witnessing 5th wave of a parabolic rise, often the wider in range ... 100K is minimum target considering upper channel of deviation , but parabolic rises won't generally "respect" such Logarithmic Deviations.
More aggressive targets around 130/150K for a topping around the years 32/34
(in time we'll see if the accelaration starts to break the deviations or not, for now we assume 100k target within 10/12 years)
Note: analysis is valid for SPX as well!
DJI Potential For Bullish ContinuationOn the H4 chart, the overall bias for DJI is bullish. To add confluence to this, price is above the Ichimoku cloud which indicates a bullish market. Looking for a buy at 32818.16, where the 50% and 23.6% Fibonacci lines are located. Stop loss will be set at 31711.78, slightly below where 2 of the 38.2% Fibonacci lines are located. I am looking to take profit at 35411.35, where the previous swing high, 78.6% Fibonacci line and -27.2% Fibonacci expansion line are located.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
DJI Potential for Bearish Momentum | 18th November 2022The overall bias for DJI on the H4 chart is bullish . However, we intend to utilize the pullback. So we're looking for a sell entry at 34281.36 , where the previous swing high and the 78.6% Fibonacci line are. The stop loss will be set at 35492.22, where the previous swing high is. The take profit will be set at 32135.41, which is where 61.8% Fibonacci line is.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Dow Jones heading to 37000Cup and Handle formed on Daily and broken up.
7>21 MA and price >200MA
Broken out of medium term downtrend giving us more bullish signals.
With inflation slowing down to 7.7% below expectations of 7.9%.
With jobs being added 210,000+ beating expectations and with the global market rally as investors flock away from Crypto due to uncertainty, fraud and insolvency - we can expect an early Santa Claus Rally.
BULLISH
DJI Potential For Bullish ContinuationWith the price moving above the ichimoku cloud and breaking the descending trend line on the H4 chart, we are looking for a pullback buy entry at 32818.16, where the 50% Fibonacci line is located. Take profit will be at 35411.35, which is the previous swing high and the 78.6% Fibonacci line. The stop loss will be set at 31711.78, just below the 38.2% Fibonacci line.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
DJI Potential for Bearish Momentum | 17th November 2022The overall bias for DJI on the H4 chart is bullish . However, we intend to utilize the pullback. So we're looking for a sell entry at 34281.36 , which is the previous swing high and the 78.6% Fibonacci line. The stop loss will be set at 35492.22, the previous swing high. The take profit will be set at 32135.41, which is the 61.8% Fibonacci line.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
DOW JONES Will a Rate Cut do more harm than good to stocks?Bold question and should certainly raise some eyebrows but let's look at the complete picture. This chart displays Dow Jones (DJI) and the Federal Reserve Interest Rate (blue trend-line) on the 1M (monthly) time-frame.
I will make it quick to save us time and then each person can individually make their own conclusions from the chart. The combination of the Fed raising the rates since the start of the with Dow dropping, hasn't been seen often historically on this data set dating back to June 1954. In fact historically, Dow (stock markets in general) tend to rise along with rates. Some times (4 in history) when the Rate Cut happens, Dow drops as well. Most of the times the stock rally continued without a major drop even after the Rate Cuts.
Basically the only time on this data-set that resembles today (assuming the Fed pauses or cuts in 2023) is 1969/70, 1972-74 and 1983/84, with the latter largely associated with Fed Chair Volcker monetary practices. During those periods, Dow started falling as the Rate was rising and then dropped after the Rate cut.
Do you think we are repeating such a period? Will a Rate Cut in the near future do more harm than good to the stock market?
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DJI Potential For Bullish ContinuationOn H4 chart, we have a bullish bias with the price moving above the ichimoku cloud and breaking the descending trend line, we are looking for a pullback buy entry at 32818.16, where the 50% Fibonacci line is located. Take profit will be at 35411.35, where the previous swing high and 78.6% Fibonacci line is located. Stop loss will be set at 31711.78, slightly below where the 38.2% Fibonacci line is located.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.