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DJIA is hinting @ a possible HUGE rally for the next few yrs Currently the 6th time in one hundred years the DOW has been as overbought on the RSI. In 1944 the DOW rallied 3.4 % higher first, then pulled back 4.5% yet in the other 4 times, the DOW pulled back 4-6% then had an upside bias for the next 2-3 years, where the DOW rallied 89% - 17% - 49% - 118% - 82% In each period after the rally finished, the DOW had a correction of 20% or more. See charts below for previous similar setups. I am not advocating shorts or going long long at current levels. However, if price pulls back with noticeable support on the DOW around 4-6% similar to the past. I would use it as a long signal on all the indices for a potential 2-3 year rally that could take the DOW, SPX, RUSSELL and NDX much higher. Year 1996 89% rally Year 1955 17% two year sideways range Year 1944 49% rally Year 1927 117.98% rally Year 1915 82% rally
DJ:DJILong
by elp
13
Dow Jones Industrial Avg Held in Neutral Consolidated Position BREAKOUTS & RUN As we look over market history in the U.S. and other equity markets, we see long standing fits and starts. Ranges in these starts are extremely bullish, seeing breakouts of more than 2000% over 25 year periods. After breakouts markets always and eventually consolidate before they turn there next break. Post 1930's Great Depression U.S. market grew by 2405% before consolidating in the late 1950's for 23 years into the early 1980's. Top end resistance area is 1,000, which was tested many times over in the 60 all the way through 70's and eventually breaking out in 1983. The 80's brought us the computer age, which lead us down the path of internet and micronization along with digitalization into 21st century. Markets priced in our new found improvements resulting in a 2104% market movement 1983-2000. CONSOLIDATION Our current equity status is consolidation. From previous market history, we can see these periods can last a quarter century or slightly longer. I'm expecting at least another 5 to 15 years of consolidation with a pinnacle trough, which we've already seen (2007-09), to reach 65%. Our top end resistance area is 17,500, which was met already in early 2015 and will most likely be tested once or twice more. Predicted Breakout won't occur until 2020 or much later, 2030. Given the magnitude of the deep consolidated trough (2007-09), I would assume sooner rather than later.
DJ:DJI
by QuantitativeExhaustion
2
LONG USDJPY up to 116I went totally wrong on AUDJPY yesterday after reanalyzing everything and should be stopped out very soon. As far as the USDJPY goes. There is a lot of YEN selling pressure right now that's taking out some key areas opening the door for a huge decline. Also, the USDOLLAR is picking up some strength ahead of the FOMC as you can see pin bar that formed a few days. This is a tough spot, but I have to take a shot here. Technically, We have broken the counter trendline, with a daily MACD divergence, and an 8/21 ema cross over. Also, we have held up the 111 key area with a daily close two days ago. Let's see what happens.
Long
by adriel.arrasmith