YM1
YM1- Dow Jones - Short The Dow Jones (2h) chart shows us a strong upward trend registering historical highs, but we expect it to take a break of up to -2.4%, showing a decrease in the volume traded, to later rise due to the news of the stimuli and / or the political or social circumstances of vaccines without having events or important news scheduled CBOT_MINI:YM1!
Let's also take into account the RSI that indicates sustained overbought levels
This is just a suggestion, it is up to individual responsibility
🩸 🐖 "Bulls make money, bears make money, pigs get slaughtered"Hi guys after Friday rout there are new developments in stock market indicies. Last week price action on AMEX:DIA formed bearish reversal pattern buying climax above upper megaphone pattern line at the top of rising wedge. This rising wedge is 5th Elliot wave which is signaling trend will reverse soon.
As you can notice in chart last week realized volume was relatively big and volume week ago last week was rather small. Thats the signs that bears taking control significantly in recent days.
I expecting this week breakdown bellow megaphone upper line and begin forming corrective wave (a).
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NQ MFI oversoldNQ, ES, YM, and RTY MFI all oversold so probably a bounce today but don't sure me if it doesn't go up, lol.
It will probably fade the gap up a bit before heading higher. Chart looks the exact opposite as yesterday, nice whipsaw, lol.
Probably staying out, not feeling very bullish, but yields went down overnight, so it should go up.
90.7 DXY Dollar is the key to the stocks correction!!!If the Dollar gets over 90.7, that should signal the correction in all assets. 90.7 is the *yearly* 20 period moving average. Rejected twice this past week, but it has broken out of a wedge pattern, backtested successfully, and seems to want to move up to get over 90.7. Target 92.3-92.5 for the short term resistance and green light to long stocks. 90.99 is a gap and also a target.
Could this indicator predict corrections 100% of the time?!The cyan line is a weighted average of different asset classes, other than stocks, that I came up with.
It is just a mathematical exercise but I thought it is showing some VERY interesting correlation...
... Just a thought!
Disclaimer: The above is not an investment advice. It is merely an opinion and I share it for your entertainment only. Do your own due diligence and above all, trade safely and stay safe!
Could the real Black Friday be December 11th?The stock market indices are at all time high, climbing the wall of worried of the megaphone resistance.
Meanwhile:
- There is 20 million Americans unemployed
- Covid-19 is at all time high
- Stimulus is ending at the end of the month and there are no visibility as to whet and when the next wave of stimulus will be.
Yes, there is a vaccine coming but vaccination will take time...
With Thanksgiving Travel and gatherings and the return of the cold weather in some regions, the spread of the virus could be out of control. Then, to make things worse, Christmas and New Year is also just around the corner with more gathering in sight.
Considering symptoms appear between 2 to 14 days after being infected, that would mean that between December 3rd and December 10th, a Covid-19 spike could erupt in many US regions. So, without putting to much credibility on the exact date, I believe things will get worse before they get better.
We could see SPY fall from its megaphone soon!
Disclaimer: The above is not an investment advice. It is merely an idea and an opinion and I share it for your entertainment only. Do your own due diligence and above all, trade safely and stay safe!