Dow Jones - Uptrend Stalled, Short-Term Momentum NegativeYesterday's negative close ocnfirms our short-term bearish bias. Short-term resistance and continuation levels highlighted.
YM1
Dow Jones - Uptrend Weakening, Short-Term Shorts in PlayIt seems significant that the Dow is now negative on the week after pushing to new highs.
We see this as possible short-term shift in sentiment and we favour short-term shorts for the time being.
Dow Jones - Uptrend Stalled. Bias is Neutral.Short-term Support still holding. No trading on this instrument at the moment.
Dow Jones - Uptrend IntactShort term support and continuation levels highlighted. Be aware that equities failed to rally on good news from China today. This is a signal of caution.
Indices - Risk On is the Theme of the DayNice moves in Indices but beware of earnings from US banks today: JPMorgan and Wells Fargo will be watched closely for signs of economic slowdown or recession.
US Exhaustion on Main resistance Double Top H4I m shorting this level if prices fail to break 25.260-300 which seems to act as a strong resistance for now.
Trade FXCM CFD Entry: 26.290 - TP1: 26125 - TP2 26860 - sl:25340
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Dow Jones: shares to head south after reaching November peak ? High risk:reward opportunity to try and pick a top to this epic rally
DJI Inside and up on the month- TheStratInside month and a break to the upside, which after a small retest back into the range has rallied strongly for full timeframe continuity. Buy signal was at 25109. Bad idea to short until a reversal signal appears.
No reason to be short YM/DJIWe are in the 8th green week in a row. Price up on all timeframes. This week was the first time we opened close to the weekly pivot and dropped below for a few hours. However it quickly recovered above and is now past WR1 again. We are above the yearly and monthly pivot. Until the markets open or drop below the WP and hold there, there is no reason to be short.
Volume profile has a positive skew and is building value higher. Currently sat near POC, look for it to continue quickly to the next node at 26000 if it isn't rejected here.
DOW JONES THE ULTIMATE BONESYM1! looks like it has plenty of fuel left in its TANK.
DOW JONES
Untested levels lie above and below
You can have pending orders in either direction
With this information, do what you will
But always remember execution is everything
Pretty charts don't equal profits, so always remember to take proper risk adjusted setups
:)
Dow - Key Levels for GuidanceMost likely, we are in for some more chop before the trend re-asserts itself. We cannot rule out further volatility and even some probing/testing of the cycle lows. The important thing is that we don’t close below the cycle lows. The main fulcrum to the upside is currently at 25000 more or less.
Dow - Volatility Still Sky High, Buyers BewareBased on volatility considerations, it seems like we're in a consolidation pattern after the leg lower. This might last some time - possibly until Brexit (March) or the EU elections. We are not buyers in current conditions.
Dow Jones: Broken trendline suggests drop to 23300The break of 24250 as key support opens up a drop toward February lows
BTFD at ES 2550-2558 - defined risk.
Current Price at Posting: 2610.75
Directional Bias: Long
Price Target: 2680
Good Entry: 2550-2558
Risk/Reward: Max of 10 point risk / Potential Reward of 130 points.
Trade Idea Invalidation: Hourly Candle close below 2550
Dow: Rising trendline & 24k = major supportThe Dow is at its lst chance to rebound from rising trendline and round number support
Otherwise another drop to the February lows is likely
Consolidation Range for Dow before Potential Face RipperCurrent Price at Posting: 25588
Directional Bias: Long
Price Target: 25850+
Good Entry: 25270-25320
Risk/Reward: Max of 50 point risk / Potential Reward of 500-600 points.
Trade Idea Invalidation: Hourly Candle close below 25250
Dow Jones Industrial tracking Oil and metals lower $YMDJIA is headed lower tracking investors rotation from stocks into 10yr T-bonds. I am seeing the index breaking down towards 22-21k.
Oil has already shed considerably and metals are trading lower too which effects Dow Jones Industrial sectors.
Technically we breached a weekly Insidebar to the downside and traded back which gives us an opportunity to get back into the downtrend on smaller timeframes.
This is still just an inside month.For all the rhetoric of crashes etc, just remember we are still in an inside month, we have gone nowhere! Trend is down on all timescales but that can all change in the next two weeks with the new month and the seasonal strength starting the timescales afresh. Don't get married to an idea.
Also to note- this chart shows beautifully the importance of monthly closes and opens in relation to yearly pivot points. Look how often they coincide with each other. Another reminder to scale out to the bigger picture and not get sucked into the noise of emotional rallies and sell offs.
YM Yearly volume profilePoint of control sits at 24800. We are still in a range moving between YP and YR1, with plenty of space to move either way so don't be drawn into early calls of crashes etc. We have returned and dropped below the POC which should now act as resistance. However 24200-25500 is a value area with a broad profile so strong moves both ways can occur.
