Trading_Jazz
Short

(Daily) Will Mr. Jones follow the rules? Overbought ;)

FX:US30   Dow Jones Industrial Average Index
Comment:
Comment: new structure...
The strongest target in the Daily array is Wed. Dec. 28, 2016 for a turning point ahead. It does appear we have a choppy period starting Tue. 3rd until Thu. 5th with each target producing the opposite direction for that 3 day period. We have Daily Directional Change targets due the days of Wed. 28th, and Tue. 10th.Currently, we have not elected any Daily Bearish Reversals from this new high of Tuesday December 20th. The immediate Daily Bearish Reversal to watch lies at 1984644 but focus more on 1981140. A closing beneath this level will signal a temporary high is in place. Additionally, a closing below 1992042 would also imply a technical based pause in the uptrend for now. We have elected 2 Daily Reversals from the reaction low of Thursday December 22nd leaving us to watch 1995130 on a daily closing basis to signal a further adavnce ahead.
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AS OF THE CLOSE OF Mon. Dec. 19, 2016: We should see a trend change come this month in Dow Jones Industrials so pay attention to events ahead. Last month produced a low at 1788356 and so far we are trading neutral within last month's trading range of 1922529 to 1788356. We need to breakout of this range to confirm the direction. Therefore, a close above will be bullish and a close below will warn of a possible decline.
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The last monthly level low was 1537033, which formed during August 2015, 2015. The last high on the monthly level was 1922529, which was created during November. We see that the trend should change come this month so pay attention to events ahead.
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@fatboy007, who's "we"? :)
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@fatboy007, https://uk.tradingview.com/u/Trading_Jazz/#published-charts because i do not trade for institutions! I trade by my own, i do not follow symptoms or any kind of social behavior or fundamental approach... you are welcome to check all my work there ;)
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fatboy007 Trading_Jazz
@Trading_Jazz, Currently, we have not elected any Daily Bearish Reversals from this new high. The immediate Daily Bearish Reversal to watch lies at 1114185. A closing beneath this level will signal a temporary high is in place. Additionally, a closing beneath 1135715 would also imply a technical based pause in the uptrend for now. Technical projected resistance for tomorrow stands at 1155646. Only exceeding that level would imply a runaway breakout to the upside.
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