Hey fellows, I actually do not trade the DowJones30 but I like I found during my sundays market studies some nice patterns. In the orange box you will find a potential Reversal Zone which is conveyed by three facts: 1. Close to upper Trend resistance line of Trend channel 2. AB=CD pattern 3. Last but not least a bearish BAT, although I do not have a lot of...
Just one traders opinion on what's to come. Remember, traders don't get paid on opinions. Have a bias, but never be afraid to change it if the market shows you you're wrong.
We are now in unfamiliar territory. The MACD technical indicator Moving averages has crossed over above 120 points 22 times since 2003. Of those, 22 times, 19 of them led to at least a mild pullback within a month. 3 times it moved sideways or down where no money could have been made at all within one month. The MACD has crossed over 200 points 6 times...
Here is my logic: 1. Fundamentals don't support record highs. High stock prices don't represent real economic activity. Unemployment. situation still not pre-crises levels yet prices are way above that. 2. Oil showing lack of demand. 3. US dollar becoming more expensive. End of low exchange rate. 4. China weakening as well as imports. 5. End of easy money and fed...