YM1
Dow Jones might be finding support along green trend lineThe Green trend line has acted as a good support since the mid point of last year. This may be a bottom of a upward channel forming.
Elliott Wave View: Dow Jones Future YM_F Rally Should FailShort term Elliott Wave view on Dow Jones Future (YM_F) calls for the bounce to 25952 as wave (B). This move higher is a correction to the decline from April 24, 2019 peak.
In order to avoid a double correction in wave (B) and provide validity to this view, Dow Jones Future needs to break below wave ((i)) at 25215. However, technical analysis on US Sectors such as Financial (XLF), Technology (XLK), Consumer Discretionary (XLY) suggest they have broken lower. Thus, we think it’s likely that Dow Jones Futures also extends lower.
Therefore, we don’t like buying the Index and expect sellers to appear in 3, 7, or 11 swing as far as pivot at 25952 peak stays intact.
VWAP, Volume profile and pivots combined for day tradingAs annotated on the chart, weekly pivots combined with volume profile and VWAP bands can give high % entries.
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On responsive days, VWAP bands give accurate points of entry for a move back to the current VWAP or POC.
Be wise to the the of day that is developing, and use the appropriate strategy. For example on trend days do not play for responsive moves as you'll get run over. Neutral/balancing/normal days buy or sell out of value for a return to value using VWAP and pivots as a guide. Stops should be placed above or below pivots or the next VWAP band (2.5 or 3 SD).
For further accuracy use the bigger picture- market and volume profile of the last few days.
VWAP and volume profile combined with pivots for day tradingAs annotated on the chart, weekly pivots combined with volume profile and VWAP bands can give high % entries.
On responsive days, VWAP bands give accurate points of entry for a move back to the current VWAP or POC.
Be wise to the the of day that is developing, and use the appropriate strategy. For example on trend days do not play for responsive moves as you'll get run over. Neutral/balancing/normal days buy or sell out of value for a return to value using VWAP and pivots as a guide. Stops should be placed above or below pivots or the next VWAP band (2.5 or 3 SD).
For further accuracy use the bigger picture- market and volume profile of the last few days.
Dow Jones - Risk-Off Dissipates but Downtrend IntactThe Fed's dovish shift in 2019 that pushed prices higher has been overshadowed by ramped up tension on the global trade front. This should continue to be a drag on investor sentiment until other factors prevail.
Our bias remains down on the Dow, as highlighted by the 55 SMA Slope and the fact we have not yet broken key resistance areas.
It will be tricky today. Consider adding on continuation shorts intraday with caution.
Dow Jones - Downtrend Intact, Consider AddingDow Jones remains the weakest US index and is in a downtrend as highlighted by the 55 SMA slope.
The downtrend is generated by the US/China trade war issues. Headline risk is present.
We favour further downside through the continuation level.
Dow Jones - Downtrend Intact, Consider AddingDow Jones is the weakest US index.
Trend is down as highlighted by the key daily level break and the 55 SMA Slope.
Everyhing hinges on US/China trade talks so we would wait until the US Cash Open
before trading and would prefer a continuation break on bad news.
Dow Jones - Patience RequiredDirectional movement is stalled currently, as highlighted by the lateral 55 SMA.
We need a break of either the short-term support or short-term resistance in order to start
trending movement again.
Patience is required for now.
Dow Jones - Downtrend in PlayThe long bias was flipped by President Trump's new escalation of the US/China Trade War.
Whether it is a bluff or not is yet to be seen. For now, charts point lower.
Short-term resistance and continuation levels highlighted.
Dow Jones - Uptrend Fading, Short-Term Bias is DownChallenging action to trade, especially ahead of Non-Farm Payrolls. However, momentum remains to the downside for now.
Short-term resistance and continuation levels highlighted.
Dow Jones - Uptrend Stalled, Short-Term Momentum NegativeYesterday's negative close ocnfirms our short-term bearish bias. Short-term resistance and continuation levels highlighted.
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
:)
