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DOW JONES: Small pullback will offer a buy opportunity.Dow Jones is about to turn neutral on the 1D technical outlook (RSI = 57.040, MACD = 399.580, ADX = 38.469) as it crossed below its 4H MA50, withi the 4H RSI already on a bearish divergence, pointing to a short term correction. We expect that to be on or a little under the 4H MA200 and then rebound (over the 0.5 Fibonacci level) like the September 11th low. Like then, we are targeting the 1.236 Fibonacci extension (TP = 43,200). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US30
by InvestingScope
DOW JONES Pull-back possible but maintain long-term perspectiveA little more than 2 months ago (July 25, see chart below) we argued that Dow Jones' (DJI) correction wasn't over and called for a deeper buy, setting then a long-term Target of 42400: The Target got finally hit on Friday, giving us an excellent risk/ reward ratio on our investment. As however the price almost reached the top of the 2-year Channel Up, we have to issue a warning for a potential short-term correction. The 1D MA50 (blue trend-line) has successfully supported on September 11 last time and won't be odd to see another re-test after almost a month. The similarities after all between the first part of the 2-year Channel Up and the second (the one we're currently in) are still noticeable and on 1D RSI terms we may be symmetrically around the November 20 2023 level. However, we may see this time the Channel Up break to the upside for the first time after the elections. Regardless of the short-term volatility, our medium-term Target as we will be heading into December is 44500. That is the 2.5 Fibonacci extension, similar to where the April 01 High was priced. ------------------------------------------------------------------------------- ** 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:US30
by TradingShot
DOW JONES may be entering a wide 4 month consolidation phaseDow Jones / US30 reached the top of the historic Channel Up that started 2 years ago on October 3rd. Technically that calls for a strong short. Last time that happened in April 1st, the index turned sideways on a wide consolidation. The other 2 Higher High rejections caused Channel Down corrections. Technically the time to rebound again will be closer to the 1week MA50 but that can be in December. Until then, buy low and sell high within 42250 and 43350. Follow us, like the idea and leave a comment below!!
CAPITALCOM:US30
by TheCryptagon
DOW JONES: At the top of the six month Channel Up.Even though Dow Jones has reached the top of its Channel Up pattern, it remains on very balanced bullish technicals on the 1D time-frame (RSI = 62.120, MACD = 487.030, ADX = 32.488). Our trading plan will be based upon breakouts. As long as the price remains under the top of the Channel Up and over the dashed trendline of the August wave, it is a no action (do nothing). If it crosses above the top of the Channel Up, it's a buy (TP = 43,500) as most likely we will see an extension of the wave to a new +8.28% rise. If the price crosses under the dashed trendline, its a sell (TP = 40,900) to the 1D MA50 at least. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US30
by InvestingScope
DOW JONES Is a post Fed decline valid before an October rally?The day has come when the Fed will finally cut the Interest Rates for the first time since the early 2022 hike cycle and the question in the market is whether it will be by -0.25% or -0.5%. High volatility is expected intra-day but technically Dow Jones (DJI) remains within an uptrend (Channel Up) both medium-term (5-months) and long-term (2 years). The last support and bounce was offered by the 1D MA50 (blue trend-line) on September 11 and that broke the remarkable symmetry that the index had so far with the March - August 2023 fractal. That fractal suggested that after a (dotted) Channel Up, the index should make a correction below the 1D MA200 (orange trend-line) but on September 11 instead of breaking below the 1D MA50, the index rebounded (as mentioned above) and diverged from the fractal. This means that the Bullish Led (green Channel Up) may this time start earlier and the rally may break above the 2-year Channel Up and finally deliver a new long-term pattern, possibly more aggressive. Seasonality however is a big factor for investors and as we can see, the last two Septembers (2023, 2022) have been bearish, extending corrections that started in August but eventually managed to price a bottom in October. As a result, any remark by Chair Powell during the press conference that isn't well received by the market, can initiate a short-term pull-back towards the 1D MA200, ranging from -5.07% to -6.90%. In our opinion, if that takes place, it will be a tremendous buy opportunity until at least the end of the year. If however Powell delivers what the market is expecting (and more), we expect the pattern to continue its divergence from the 2023 fractal and enter the more aggressive bullish pattern earlier. If the more aggressive pattern prevails, a 46000 target is very probable by the end of the year. Notice that this divergence is also evident when comparing the 1D RSI sequences of the two fractals. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:DJI
by TradingShot
2
DOW JONES: Is it forming a BLOW OFF TOP??Dow Jones isn't just having a strong bullish momentum on the 1D timeframe but also on its 1W technical outlook where it maintains a steady bullish overall indicator score (RSI = 64.010, MACD = 036.840, ADX = 29.553). However there are growing concerns coming from the 1W chart as the 1W RSI is posting a Bearish Divergence, trading on a Channel Down while the actual price is on a Channel Up. This is alarming because last time this showed up was in late 2021 and as we all know led to the bear market of 2022. However the Bearish Divergence prior to that (mid 2017) was false and Dow continued to rise instead for another 4 months before a correction to its 1W MA50. And that is the level that plays the most important role here, the 1W MA50. As long as it continues to support, we will have a bullish trend. Actually, Dow seems to be attempting a breakout over the Channel Up this month, unlike December 2021. Failure to break though can result into a blow off top. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:DJI
by InvestingScope
DOW JONES Nothing has changed. Bull trend intact and eyes 48000.Dow Jones (DJI) is having yet again short-term volatility following the August 30 All Time High (ATH), but as we explained last week this is natural, since the medium-term Channel Up hit its top and was looking for the 1D MA50 for buyers and a Higher Low potentially a little lower. On the longer term though, the trend is intact and is heavily bullish. The 1W MA50 (blue trend-line) is holding and as long as it supports, there is no evidence showing a correction. In fact, this is the exact same pattern that the index has been following since the 2009 bottom of the U.S. Housing Crisis. As you can see on this 1W chart, the market first bottoms on the 1W MA200 (orange trend-line) and starts a recovery phase by breaking above the 1W MA50. After a lengthy consolidation on it with a few tests (to confirm it as Support), it enters a structured Channel Up until the Cycle's peak. The first two Cycles rose by exactly +75% from their bottom to top, while the COVID one peaked at +70%. As a result, assuming a minimum +70% rise for this Cycle also, we can target at least 48000. It appears that the index is currently past half-way through the Cycle, already within the standard Channel Up. In addition, you can observe the similarities between the Cycles on the 1W RSI fractals as well, which tend to 'cool down' once this Channel Up starts forming. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:DJILong
by TradingShot
DOW JONES correction to extend until the Fed.Dow Jones (DJI) did what we expected of it 3 weeks ago (August 13, see chart below) and after pricing a Higher Low at the bottom of the 5-month Channel Up, it rebounded and reached the All Time High (ATH), pricing a Higher High: In continuation of that analysis, we now expect the new Bearish Leg to extend to possibly as low as the 0.618 Fibonacci retracement level, which was the case with the May 30 pull-back. The 1D RSI suggests that a 35.00 value would be ideal to signal a buy (same as May 30, see how both RSI fractals priced the top on the 70.00 overbought limit), while a Bullish Cross on the 1D MACD would be the final confirmation of the buy. Our long-term Target remains 42400 (+11.00% from the Higher Low, the same % rise as the July 18 High). ------------------------------------------------------------------------------- ** 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:US30Short
by TradingShot
DOW JONES The pattern that never failed is now targeting 48000Dow Jones (DJI) gave us the best bullish break-out signal of the year 8 months ago (December 13 2023, see chart below), as our buy entry at 36577 is very close to hitting our 42900 Target: At that time we made a clear point why that rally 'shouldn't surprise you' and now you see why. This 1W time-frame chart shows the cyclical behavior of the index, which peaks (Sine Wave top) then pulls back and starts forming a Rising Wedge (Sine Wave bottom) and when it breaks above the Rising Wedge, is where it flashed the bullish break-out signal we got back in December. As you can see it then starts a gradual rise on the BB20 and completes the Cycle again (Sine Wave top) after roughly a +47% rally. The title mentions that this pattern 'never failed', in practice it only broke during the COVID flash crash, which is a non-technical event than occurs once every 100 years. As you can see even the 1W MACD sequences between the cyclical patterns are identical. As a result, our Target towards the Sine Wave peak is 48000. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:DJILong
by TradingShot
DOW JONES Don't lose sight of the great picture. Still bullish.Last week, while Dow Jones (DJI) was still under its 1D MA50, we called for a major rally, as technically the 5-month Channel Up has just priced its new Higher Low: The index has now almost reached the Target of the first Bullish Leg of this pattern, pointing to a potential relief next. On the larger picture however (1M time-frame), we had posted an article named 'Secret Cycles' on April 12 2024 (see chart below), during Dow Jones' previous pull-back that again inflicted fear in the markets, calling for a strong buy: It is this chart that we revisit and expand up today, as we don't think the long-term trend has changed. We want to maintain a clear long-term perspective and following August's massive recovery 1M candle, we believe that Dow will enter by Q4 2024, the final stage (rally) of its current Cycle. That has historically been 1 year at least, so as long as the index keeps holding and closing the monthly candles above the 1M MA50 (red trend-line), we will continue buying all monthly dips. Our 48850 long-term Target is intact. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:DJILong
by TradingShot
4
DOW JONES New Bullish Leg to beginLast week (August 07, see chart below) we made a long-term case of why Dow Jones (DJI) is poised to technically start a new aggressive rally 'right under our nose' and before that (July 25, see chart below), why at the time the correction wasn't over: As you can see, the index found support on our low tier near the 1D MA200 (orange trend-line) and as the April 19 Low, it touched the 0.5 Fibonacci retracement level of the 2-year Channel Up (chart 2 above). Back to today's analysis, the price has already rebounded at the bottom of April's Channel Up and has found its first Resistance on the 1D MA50 (blue trend-line). The final confirmation of this Bullish Leg will be when the 1D MACD forms a Bullish Cross as it did on June 18 and April 25. Since the Bearish Legs of this Channel Up have been almost the same percentage wise (-6.84%) we expect the Bullish Legs to be too. With the first Bullish Leg being at +11.13%, our medium-term Target is 42400 (just below a potential +11.13% rise). ------------------------------------------------------------------------------- ** 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