DOW JONES The RSI on 1D and 1W signal rally ahead.This is Dow Jones on the 1D time-frame. The price made a bottom just before the 33040 Support of the June 21 2021 Low and is rebounding, about to test the 1D MA200 (orange trend-line) as a Resistance.
Below the chart, I've placed the RSI both on the 1D and 1D time-frames. On 1D, the RSI hit the multi month Support and rebounded and on 1W it hit the bottom of a 5 month Channel Down and rebounded. All these indicate that the market has formed a bottom and is at the early stages of a rally towards the Higher Highs trend-line. My target is just below the 1.236 Fibonacci extension at 37000.
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Dowsignals
DOW JONES could enter an accumulation cylinder if the MA50 holdsEverything went according to plan since my last update on Dow Jones as we accurately caught the December 20 bottom and today the 37000 target has been almost hit, so it might be a could idea to book medium-term profits:
I have to update our outlook now as a new pattern may emerge as per the late 2020 price action. That is an Accumulation Cylinder (as per Livermore's speculative model) that technically leads to a new High. The technical condition for this to arise is for the 1D MA50 to hold. In fact there are so far many similarities with November 09 2020, which was when the last Accumulation Cylinder took place:
a) The price is near the 0.236 Fibonacci extension. It was at that level that the rise stopped, the price took a relief break but the 1D MA50 held and the cylinder started.
b) The Ichimoku Cloud squeezed right before the Cylinder started.
c) Both rises that preceded the Cylinder started on a 1D MA200 (orange trend-line) rebound
d) Both were at the end of a long-term Channel Up.
e) The sequence that completed the Channel Up and started the Cylinder was a Zig Zag Higher Highs/ Higher Lows displayed by the bold black arrow.
On the other hand, if the 1D MA50 fails, we should most likely see an extension of the Channel Up. In that case Dow should hit at least the 1D MA200. Basically the most optimal buy entry in the past 6 months within the Channel Up has been the 1D RSI's Buy Zone (green zone).
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DOW JONES hit the 1D MA200. Buy fractal spotted.Dow Jones has had a very sharp two-day pull-back, which hit today the 1D MA200 (orange-trend-line). That came off an Inverse Head and Shoulders pattern (IH&S) that continues to resemble that of June - July. With the 1D RSI hitting the Symmetrical Support level of the July 19 low which initiated the strong rebound to the 0.236 Fibonacci extension, I expect the same sequence to be replicated and hit 37000 by the end of next month.
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DOW JONES and the fractal of DOOM it should avoidDow Jones has been trading inside a Channel Up since the Q2 of 2021 a time during which I have been bullish buying every Higher Low within the pattern. This hasn't changed, especially after it recently made a strong rebound exactly on the 1W MA50 (blue trend-line), which during long-term uptrends is typically the major Support.
However with this analysis I want to bring to your attention, a technical possibility based on the charts, which shows that DJI's long-term bullish trend may not have more than another quarter left before a major correction occurs.
As you see on this chart, which is on the 1W (weekly) time-frame, while the index has been on this Channel Up (Higher Lows and Higher Highs), its very RSI indicator has been trading on a Channel Down (Lower Highs and Lower Lows) for the same time-span. This constitutes a Bearish Divergence and technically indicates that the dominant trend (i.e. the uptrend) has been losing its earlier strength.
Now we come to the major part of the analysis. On top of that Bearish Divergence, which is alarming on its own, the last time a similar Channel Up has been spotted was from February to November 2019. As you see there is almost a perfect symmetry between the two both in terms of the Fibonacci retrace and extension levels, as well as the bounce on the 1D MA50 and below the 0.5 Fib at the exact same spot on the Channel Up pattern.
This correlation suggests that, assuming the pattern replicates almost the same way, when the Channel Up breaks to the upside (i.e. above its top/ Higher Highs trend-line), a top might form soon after (a month or so), and as the index will get massively overbought, a sharp quarterly correction may follow. Now of course back in Feb-March 2020 the sole driver/ catalyst behind this massive correction was the COVID pandemic outbreak and an event like that can't be repeated that soon, however the markets tend to find and capitalize on any fundamental catalyst they can find at a given time in order to fulfil a long-term re-occurring pattern.
What do you think? Should this ring a bell early on for the global stock markets or not?
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DOW JONES may give more buy opportunities on this patternThis is an update to my most recent Dow Jones idea that gave the buy signal on the bottom of the Channel Up a week ago:
The index has been rallying aggressively since then and now faces the first important Resistance (black dashed line). This may be an Inverse Head and Shoulders pattern similar to the June one. That has given two buy opportunities on the 1D MA50 (blue trend-line)/ 0.5 Fibonacci retracement level and the 0.618 Fibonacci retracement level before the final rally of that phase towards the 0.236 Fibonacci extension.
If you didn't catch the bottom buy already, be on the look out for those potential buy opportunities.
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DOW JONES Buy opportunity on the 1D MA200 and 0.618 FibPattern: Channel Up on 1D.
Signal: Buy as the price reached both the 0.618 Fibonacci retracement level as well as the 1D MA200 (orange trend-line). The last parameter to fulfil is the RSI Support, so allow margin for one last low at the bottom of the Channel Up.
Target: 36500 (Resistance and All Time High) and 37000 in extension (Higher High of the Channel Up).
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The Solomon Number of US30USD (DOWJONES)The Solomon Number of US30 is: 35740
Instructions:
A- Every DECREASE in price is an opportunity to BUY. The Target is Solomon Number 35740.
B- Once the Solomon Number is touched the analysis is no longer valid to enter OR take long again.
D- Apply proper risk management according to your balance.
1st short entry@ now
TP@ 35740
DOW JONES approaching the 1D MA50Following the new top on the Higher Highs trend-line of the multi-month Channel Up, the index got rejected and has been pulling back since. It is approaching the 1D MA50 (blue trend-line) which serves as a technical medium-term Support. If it holds then I expect a strong rally towards the 0.236 Fibonacci extension setting a personal target at 37000. See how the 1D RSI is also near its multi-month Symmetrical Support.
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DOW JONES entering a transition Channel as in late 2020.This is not the first time I bring forward the ideal of Dow Jones following this 2020 fractal:
As you see from my October 01 idea above, this fractal comparison accurately projected the bottom of the Channel Up (blue) and the subsequent rally that followed. This time I am expanding this idea on the Fibonacci scale, as DJI broke above the Channel Up and hit the 1.382 Fibonacci extension from the bottom.
On November 09 2020, the price also broke above its Channel Up (blue), hit the 1.382 Fib extension and then entered a new (green) Channel Up, which I call transitional as it took the index from the first Channel Up (blue) towards the higher extension levels of the Fibonacci Channel in early 2021.
During that time the RSI (always on the 1D time-frame) turned sideways, indicating this Transition phase more clearly. I am expecting a similar process until the end of the year, meaning a pull-back towards the 1D MA50 (blue trend-line) is possible but as long as it supports, we are more likely to see prices above 37000 at the end of the year.
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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 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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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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Timing the Bubble Burst Sequence (DJIA/Gold); Part II, UpdateThis is an Update of the original post ;
This is now at a 36 month Major Resistance! It is quite likely this will be the (very) long-term, final top.
DOW JONES Buy SignalPattern: Channel Up X 2 on 4H.
Signal: Buy as the price hit the Higher Lows trend-line of the orange Channel Up. The Higher Lows trend-line of the blue Channel Up is exactly on the 4H MA200 (orange trend-line).
Target: 31500 (the 1.382 Fibonacci extension).
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DOW JONES Buy SignalPattern: Channel Up on 4H.
Signal: Buy after the MACD makes a bearish cross and drops below 0. Potential low when the RSI approaches its Lows Lows trend-line.
Target: Calculate it to be near the 1.236 Fibonacci extension. Modest estimate 30600.
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DOW JONES targeting 28650Dow rebounded 3 days ago on the 1D MA200 (orange trend-line). Since late July, this trend-line has been holding firmly as Support and every contact (with a candle week, no candle closing has been done below it), has resulted in a strong rise.
Since the pattern is a Channel Down currently (since the September 03 High) is is natural to target the Lower High trend-line. As seen on the chart, the previous Lower High was made on the 0.9 Fibonacci retracement level, which is currently at 28650.
Bonus: see how every MA200 bottom gave 4 days to the MACD to make a Bullish Cross on the last two occasions. That means that by Thursday the 1D MACD will make a Bullish Cross.
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DOW JONES Recurring bullish pattern on the 1W time-frame?The Channel Up since June has fairly the same basic structure (even though more aggressive) than the one from March to September 2019, which led to the pre-COVID All Time High.
That pattern ended with a Lower High than created a Triangle, which eventually broke to the upside to the ATH. Dow Jones made that Lower High last week. See also how the RSI consolidated during both Channels.
The index has already defended the 1W MA50 (blue trend-line) with a perfect bounce last month. Is this Triangle ready to break to new Highs next month? Feel free to share your work and let me know in the comments section!
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DOW JONES broke above the 1D MA50. Buy Signal.Pattern: Channel Up on 1D.
Signal: Buy as the price broke above the 1D MA50, crossing it as a Resistance for the first time since April 27. Also the MACD formed a Bullish Cross. The past 3 occurrences initiated a rally.
Target: 29200 (the Resistance).
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DOW JONES 1D-TIMEFRAME ANALYSISDOW JONES 1D-TIMEFRAME ANALYSIS
Good evening ladies and gentlemen
This is my new idea for DOW
DOW price will test 25800 daily support
My idea shows the possibility of breaking this support
But be relaxed
Real support is between 24500 and 24800 It would be good to test it
From there we will start the bull market
I hope my idea is clear
Support me by like and share
Good luck
DOW JONES Buy SignalPattern: Channel Up on 4H.
Signal: Buy as the price broke above the Lower Highs trend-line and the 4H MA50.
Target: 28600 (just below the September 04 Resistance).
Medium term buy signal on Dow on the 1D chart:
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dowjonesHello traders, here is the analysis from our team :
sell:27517
TP@; 27507
TARGET: 27467
stop: 27567
we take money management from
27507 as profit area on up.
Let us know in the comment section below if you have any questions.😉
DOW JONES Sell SignalPattern: Bullish Megaphone on 4H.
Signal: Bearish as the price was rejected on the Megaphone's Higher High trend-line and broke through the (dashed) inner Higher High line.
Target: 24250 (roughly a -6% decline like the previous Higher High rejections, as well as contact with the 4H MA200).
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Previous DOW JONES trade:
