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Dowjones

Longs squeeze before major moveIn the previous Dow Jones analysis I shared some weeks ago, I was expecting market to continue its bullish move more than what it did. But since I bought near local low at that time, I was able to get out of that trade in profit. The market then formed Triangle pattern and decided to go downhill from there which we have been seeing recently. Last Friday, I was expecting market to go up upon the news in price territory of wave 1, then sweep the low before ultimately making its upward move. But instead it seems price went down a bit (not sweeping the low) then entered into price territory of wave 1 and today on market open, we can see a big gap. Now it turns out, this is yet another good play done by market, trapping the longs with this big gap. I am expecting price to continue downside for now until we make a new low which would be our wave 5 of ending diagonals. From where the real upward move would start. Waiting patiently for this scenario to play out. I am not gonna buy until the new low has not been formed.
ULong
by syedhamza2135
Be ReadyWe cannot trust the last 2 green candles, strong resistance around 33820 area. This upside movementum is just a correction of the drop that we saw from 35560 area. Good chances that tomorrow it will open with gap down and continue to slide down. Of if it opens with a positive sentiments that it will again hit the road block at 33820 zone. For now the index is not in bulls territory dont be fooled by green days its just dead cat bounce. Next week more news is coming out from the fed so fasten your seat belts for some action. Hit like & follow guys ;)
CBOT_MINI:YM1!Short
by stalkstock
Dow Jones Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in these analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
ULong
by ShahedZare
DOW JONES Channel Up Double Bottom. Solid buy entry either way.Dow Jones (DJI) is rising following a vastly oversold 1D RSI reading (reached even 23.60) at the bottom of the (blue) Channel Up. Based on the RSI pattern itself, we can draw comparisons with the December 2022 - March 2023 correction. According to that the 1D RSI has one more Low to make before it bottoms and that bottom will be leg (e). This will justify the emergence of a diverging Channel Up (dotted), where leg (e) will be its Higher Low while also completing a symmetrical -9.30% decline from the top. Still, the price has dipped well below the 1D MA200 (orange trend-line), which was March's bottom formation, thus either entry is equally probable. As a result it is best to buy on both levels so that a low risk indeed opportunity won't be missed. Our target is 35000, which is the 0.786 Fibonacci retracement level as well as Resistance 1. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US30Long
by TradingShot
6
Buyback Patterns: GSAs the #3 most heavily weighted stock for the TVC:DJI , NYSE:GS was one of the drivers behind the run down this week. In February, a buyback program of 30 billion was approved. Buybacks probably commenced in March and have been boosting the price up within the trading range until recently. It may be that the buyback money has been depleted. Goldman Sachs reports Oct 17. Revenues declined last quarter. Earnings are up and down. So probably not a great earnings report for Q3. However, the stock has support at the black line, so it doesn't have huge downside potential.
NYSE:GS
by MarthaStokesCMT-TechniTrader