DOW JONES Top of the Channel Up. Pull-back possible.It's been a while since I updated my Dow Jones thesis. The most recent one (Oct 13) was on the short-term 4H time-frame, where I identified a buy signal on this Inverse Head and Shoulders pattern:
The longer-term one though was last updated on October 1 and this is where I come back to today as well:
As you see, the bounce on the 1D MA200 gave a perfect bottom buy signal and the 35900 target has been achieved. Even though the long-term target is the 1.382 Fibonacci extension (36,450), the price is trading very close to the Channel Up with the 1D RSI on Lower Highs. This RSI formation has been recently seen on tops with the price correcting afterwards to the 1D MA50 (blue trend-line) and the 1D MA100 (green trend-line). On this index, it is best to wait for such contact before targeting the eventual 1.382 Fib extension.
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Dowjonessignals
Dow Jones: Good Boy! 🐶🐶🐶The Dow Jones has been a very good boy ever since the low of the yellow wave 2. Currently, the surge should continue until somewhere around 35822 points. After completing a small correction, we expect the course to increase once again.
Push it to the limit!
DOW JONES Buy SignalPattern: Inverse Head and Shoulders on 4H.
Signal: Buy as the price is close to completing the Right Shoulder and is on the 0.382 Fibonacci retracement level.
Target: 34700 which is the 0.786 Fibonacci retracement level just below the Lower Highs trend-line.
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Dow Jones bullish or bearish ?Dow Jones have to break 35044 to make sure back on bullish track. but, it seems like not today for bullish. today candles close made sandwich bearish candles.
DOW JONES hit 1DMA200 for the 1st time since the US elections!Dow Jones is trading within a Channel Up that reached today its Higher Lows trend-line (bottom). But perhaps the most important development is that in doing so, it hit the 1D MA200 (orange trend-line) for the first time since October 30 2020 (the U.S. elections)! That alone is a strong buy signal itself but consider also the following:
* The RSI bounced on the 30.000 level on September 20 which has marked price bottoms on June 18 2021, October 29 2020 (in the post COVID crash era). Also it has been rising since on Higher Lows.
* The pattern resembles the June - October 2020 Channel Up. The price hit the 1D MA50 (blue trend-line), 1D MA100 and 1D MA200 in the same order and manner.
Based on the Fibonacci extension model, I am setting a target at 35900 by late October - early November.
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Dow Jones: Good Boy! 😎😎😎Who is a good boy? The Dow Jones is! Here, the top was perfectly hit and the following correction also evolves as planned – so far. We expect the course to drop below 34034 points and then attack new all-time highs.
Let’s gooooo!
Dow Jones Index completed its 5% correctionDow Jones broke the first main support line on 34600 and reached to the second one on (33600-33700) zone. Touched it two times but didn't break it.
35600 was the highest point then it started its correction. It almost completed its 5% correction when touched 33600.
A strong bullish movement based on inflation rate, and monetary policies is most likely possible.
DOW JONES near the 1D MA200/ first time since October 2020!Dow Jones is trading within a Channel Up that has recently broken below the 1D MA100 (green trend-line). This is the first time in two months that is giving the first strong buy signals:
* The RSI is near the 30.000 level which has marked price bottoms on June 18 2021, October 29 2020 (in the post COVID crash era).
* The price is approaching the 1D MA200 (orange trend-line), with the last contact dating back to October 30 2020 (the line held and issued an aggressive rally post US-elections).
* The pattern resembles the June - October 2020 Channel Up. The price hit the 1D MA50 (blue trend-line), 1D MA100 and 1D MA200 in the same order and manner.
Naturally the market is waiting for Fed's confirmation tomorrow before it engages aggressively on high volume but this is the time technically to start considering a buy entry again. Based on the Fibonacci extension model, a target of 35900 seems very plausible.
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DOW JONES pattern to 36000Pattern: Channel Up on 4H.
Signal: Buy as the price made a rebound on the 4H MA50 (blue trend-line).
Target: 35900 lower risk (just below the Higher Highs trend-line) or 36500 higher risk (a roughly +5.50% extension top from the MA100 low).
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DOW JONES may need to hit the 4H MA200 to go higherPattern: Channel Up on 1D.
Signal: Buy if the price hits the 4H MA200 (orange trend-line) as it is the most optimal buy signal in the past 2 months.
Target: 36400 (the 2.0 Fibonacci extension).
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Dow Jones Index (US30): 36000 is comingAfter the good growth it has experienced, we expect to have a short-term correction to the specified level and then move on to its new Targets ...
DOW JONES can rally on this Inverse Head & ShouldersPattern: Channel Up on 1D.
Signal: Buy as the price is about to complete an Inverse Head and Shoulders within the Channel, similar to January/ February.
Target: 36450 (the 2.0 Fibonacci extension).
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DJI Weekly Technical AnalysisDJI Weekly Technical Analysis
All Indicators NEGATIVE
Resistance: 35091,56 - 38542,62
Support: 33271,93 - 32071,41 - 31647,53
Until 30 August we will watch. Technical looking not good.
DOW JONES Is this a giant Bullish Flag?DJIA has been trading within a Channel Up since the U.S. elections last November. However since the May 10 Top, it has been trading under Lower Highs and Lower Lows which are the characteristics of a Channel Down.
Last time we had such pattern was the sequence before the U.S. elections, which turned out to be a giant Bullish Flag. The 1D RSI has bounced off the 1 year Support Zone, same as late October prior to the elections. Can this be a similar Bullish Flag? If yes then Dow Jones will aim at the 1.382 - 1.5 Fibonacci Zone.
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DOW JONES touched the 1D MA50. Time to rebound?Dow Jones is trading within a wide Channel Up on the 1D time-frame since the November U.S. elections break-out. Applying the Fibonacci Channel levels really gives this a better perspective.
Yesterday the price hit the 1D MA50 (blue trend-line). As you see every contact within the 1D MA50 since January has been a buy opportunity. So far even when the 1D MA50 breaks slightly, the price never goes below the Ichimoku Cloud. Yesterday we had a hit both on the 1D MA50 and the Ichimoku. I believe that should be enough to initiate a rebound within the current phase of the Channel Up.
The question is, will that be like the March 04 rebound which broke above that Channel and took the index to the higher Fibonacci levels? What do you think?
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DOW JONES This fractal shows $35500 long-termPattern: Fibonacci Channel on 4H.
Signal: Buy as the index seems to be replicating the February/ March 2021 fractal. Every pull-back on each Resistance (R) is a buy opportunity.
Target: $35100 (Resistance (R)2) short-term and $35500 (the 1.382 Fibonacci extension) long-term.
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US30 : 33700-34500 scalp range for more days SSI : Above 40%
Trend : Range ( 33700-34500)
Signal : Short Scalp around 34550
Stop Loss : 34720
Target : 33700
4-digit Dow (DJIA) - SHORT; Let the (long!!) descent begin!As the ol' southern colloquialism would have it: "Darn theng (The Dow) is fixin' to be done foh, rat cheer, right about naw!"... And this where the Long March (to < 9999) bound to start, rather sooner than later. (There is also a perfect Fib. Time Cycle lurking in the background. - Look closely!) If one is afraid to Short the index outright, no problem! - You're in luck. Just (continue to) SHORT the DJIA/Gold Ratio that is already well on it's way, still with miles and miles to go (down), with no end in sight. Here is that post;
US30 (US Wall St. 30) trade ideaUS30 has reached support, and has doubled bottomed. Good. Bullish rejection on the 4H. Good. Now, all we need is bullish price action to confirm a valid entry for long.
DOW JONES Buy SignalPattern: Channel Up on 1D.
Signal: Buy as the price hit the 1D MA50 (blue trend-line) and the zone within the 1D MA50 and the 4H MA400 (yellow trend-line) has been a buy opportunity within the Channel Up. Also the previous -5% pull-backs have been buy opportunities, both of which made a bottom within that zone. In addition, the RSI bounced on its Support Zone.
Target: 35800 (every such pull-back has rallied +8% to the 1.5 Fibonacci extension).
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4-digit Dow (<9999) imminent?!...... Sure looks like it. - Especially since a ~70% decline here would be nothing more than just a garden variety return to the historic mean.
