DOW just broke below a black line that extends back to 1932.
As i mentioned last week post DJI fell minor 4th wave correction. In that corrective wave (A) wave could be completed @ 17720. Wave (B) is going to progress target for this (B) wave 17900.
We have three head and shoulders patterns nestled within one another like Russian dolls. The first two patterns are now confirmed and have played out, and now a return to the neckline number 2 (yellow line) will give a good short entry for us to aim to break the third neckline (green) and continue a correction of the rise since mid February. If that third...
Price got rejected at triple confluence area (monthly pivot R2, 76.4% retrace from AllTimeHigh to August low 2015 and trend channel), I will now use scale-in entry to build up short, start with 1/5 regular position size @17500 and will add 1/5 every 200pt if price goes higher. Minimum target 100DMA and later 16000, SL 18037 Also keep watching for RSI divergence...
Triangular geometry was designed to take on Keynesian markets.
Just some idle price movement predictions and a look at the inverse correlation between EURUSD and Dow Jones Index. I think March 10th with Draghi and ECB will probably cause some surprises and sharp movements, so just for fun I predict a hope-fuelled rise in equities (and decline in EurUSD) up until 10th March, and assume Draghi shatters all illusions. Stocks...
DJI is expected to RISE now. There are many reason why we feel it may RISE. 01. It is taking support at quarterly levels trying for a big jump. 02. Bullish engulfing in daily Chart. 03. May reach weekly target 16326 04. Stoch RSI (3,3,14,Close) states it may rise. 05. RSI(14,CLOSE) Is also of the same view. 06. CCI(20,CLOSE) Is also rising. Keeping all the...
DJI : DJI made a recent low of 15364 which was very much bellow 15459 our Quarterly safe exit level. The acheivable upper target for DJI by end of March is 18351. On a lesser time frame that is End of February 2016 DJI may reach any where between 17635 to 17860. For our weekly traders we sujest a SELL bellow 16055 with a SL @ 16107 target 01 @ 15924 Target 02 @...
It is clearly that all stock markets are still in a down trend and heading to new lows after a small correction to the upside. Apparently the reason behind this upward correction might be caused by the upward correction in oil too. We recommend shorting stocks instead of buying dips for now.
I am Slightly Bullish. We are set for the rebound at least, but it may be short lived as the broad base is still bearish. We have FOMC meeting and rate decision on Middle of Week.. It will sure the impact on the Dow Jones movemment. I will rather look for Long but be close my position if there are sign of bears coming up. Level to watch: Support 15880, 15200...
Long Term Trendlines Appear to be indicative of Trend Change in DJI aka US30
- Heavy volatility - Shorts seem to have won short term - Bulls need some (very) good news to keep on and this may happen when Mr. Draghi and the ECB makes the official QE announcement this month? - The reaction from the markets could from my point of view actually be the opposite - that the market tumbles down despite the above mentioned QE - Earnings season in...