It's not a good sign! Just be careful
I wish you good profit!
- The index, stock, commodity, etc. I share here should not mean that I personally take a position.
- It is important that my shares are not interpreted as buy-hold-sell advice in any way.
-Please process according to your own risk appetite
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Nas100 is at strong Resistance level. Resistance of this Wedge and two more resistance to Price level 12400. Not we will see at Monday Where market will move. I this it has maximum Chances that once it will go Down to the Price level 11500. Then it will start moving Up.
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I show why the DJI (Wall Street) is still a bear market - at this time (only). Expand the chart for a better view.
There is what looks like a parallel channel heading south and two sharp ATR switches. Price moves around in the channel, breaks out and back in. Note also that what looks like a channel now, could change into some other formation. The market does as...
Yep - it's beaten me. This is a very weird market where hope and greed rule. America is basically burning down with COVID, supply demand chains disrupted everywhere, no sign of a vaccine "momentarily" as we've been told - yet this market struggles north.
Every drop of good news moves it further north. In the last few days we were told that the cure was found for...
In this screencast I show some pretty interesting price action on the 1H time frame. I've used the 'theory of curves' to average out price action.
The 1H is pretty risky now for trend following entries going south. The price action is looking rebellious, in that the bulls are fighting hard to keep this market afloat.
There are two amazing 1H ATR switches which...
It doesn't matter what time frame you find stuff. Just share. That's what I do, so others can benefit (if they manage their losses properly).
The 15 min channel is so curious. The obvious questions that will pop into minds are like:
1 - is that for real?
2 - how far will it go?
It is real - if you see it. How far - nobody knows!
Disclaimers : This is not...
On Thursday 3rd Sept 2020, the DJI did an important about turn on the 1H time frame. Price collapsed 1100 points in one day (not on mid-point pricing). A correction was not unexpected, as many had known that the DJI was heavily overbought. As this is a trend-following set up, you will find no predictions .
However, 1100 points was rather more than expected and...
This is a 1H time frame. The perspective is confined to this time frame only. There are no predictions on this chart.
There is evidence of an important trend switch for the south, visible to everybody. Trend switches do not mean price is gonna fall. It only creates a greater probability of movement in the direction of the switch.
For every probability in one...
I can't predict the future, unlike many of my fellow traders. However, I know a bad weather setup when I see one. Have a look/listen.
I don't like what I see. I see storm clouds gathering. I see delusional pumping of a market. I see a deep disconnect between reality and sentiment. I see momentum falling off.
But make no mistake - I do not underestimate the...
The short answer is that I don't know! As I keep saying, I don't own the future. I'll say what I see and my inferences.
1- Wide zone of congestion approaching - likely to cause hesitation.
2 - A rising contracting wedge.
3 - A retracement on the 1D time frame up to near 76.4%.
None of this is predictive of anything. Markets do as they like - or more...
A healthy economy - which is not 'the stock market' - needs solid foundation . Some believe that the stock market ' is ' the economy. Some are definitely wrong! Sentiment is what the markets are about - this is not about reality.
The DJI has now been reinflated but with what?
1 - cheap printed money
2 - loads of hope and greed.
3 - implicit guarantees.
Whilst the Indian market tends to follow the DJI a fair amount - as do other indices - there is major trouble with the virus in India, which probably exceeds that in America. (Expand the chart for a better view)
This is a market worth stalking. It may follow the DJI to some extent, but history has shown that it can do 'it's own thing'.
The current position is...
As hard as it is to predict the movement of any index fund at the moment without a deep dive into the fundamentals - it appears DJI has formed a well respected ascending trend line with several higher highs and low tests. Within the current economic bubble we can expect a crawl up to our recent highs of 27500 (at least) before re-assessing.
This is getting really interesting. It's gonna be a fight between technicals and fundamentals.
Recent analyses of FED fire power suggests they have only used only about 1% of their arsenal of 'tools'. This obviously means that there is a lot more room for the north due to FED interventions. But what is market sentiment saying? There is a big fight on.
Right - guys and gals - it doesn't get much better than this.
Just don't blow up your live accounts on this pattern. Anything is possible.
Disclaimers : This is not advice or encouragement to trade securities. No predictions and no guarantees supplied or implied. Heavy losses can be expected. Any previous advantageous performance shown in other scenarios, is...