$DJX may be on the verge of a major decline.
Many signals points into that direction:
- S13 exhaustion point recorded today (October 6th)
- Daily Price Flip
- Daily close near Demand Line
- Wave B recently triggered after a recent advance of 5 upwaves
- RSI lagging near neutral zone
From this observation, 3 different scenarios can be drawn:
1. Moderate Bear
Wave C ends near 240/250 before resuming a new uptrend
2. Strong Bear
There is a larger picture where the decline generated by Covid19 could actually be a bearish wave 1.
The top of the bullish wave 5 is also the top of a potential wave 2.
In this case, we can also expect to see the dramatic decline associated with a wave 3 with a main target around 120
3. Continuation of the bullish trend
For this post, the TDX indicator has been configured with a low countdown precision.
With higher accuracy settings, the exhaustion point S13 could be postponed and recorded later (at least above 285)
Best!
MATHR3E
Many signals points into that direction:
- S13 exhaustion point recorded today (October 6th)
- Daily Price Flip
- Daily close near Demand Line
- Wave B recently triggered after a recent advance of 5 upwaves
- RSI lagging near neutral zone
From this observation, 3 different scenarios can be drawn:
1. Moderate Bear
Wave C ends near 240/250 before resuming a new uptrend
2. Strong Bear
There is a larger picture where the decline generated by Covid19 could actually be a bearish wave 1.
The top of the bullish wave 5 is also the top of a potential wave 2.
In this case, we can also expect to see the dramatic decline associated with a wave 3 with a main target around 120
3. Continuation of the bullish trend
For this post, the TDX indicator has been configured with a low countdown precision.
With higher accuracy settings, the exhaustion point S13 could be postponed and recorded later (at least above 285)
Best!
MATHR3E
Comment:
S13 exhaustion point with medium accuracy recorded on October 16th.
Today $DJX recorded a Qualified break of Demand Line (Level 1)
If no disqualifier record tomorrow, the breakdown will be valid.
Today $DJX recorded a Qualified break of Demand Line (Level 1)
If no disqualifier record tomorrow, the breakdown will be valid.
Comment:
$DJX No break cancellation registered today.
The bearish break is considered valid:
The bearish break is considered valid:
The countdown setting is therefore adjusted to medium accuracy.
Today therefore the countdown marks a bar 8 (Fib Number), which could also mark a local top.
The end of the countdown should occur next week.
No invalidation of the scenarios. Targets will be adjusted after the confirmation of the wave B peak (if it is confirmed)
The continuation of wave 5 is still possible. Oscillators are still bullish.