Dear colleagues, the price continued its downward movement. This means that wave 4 is stretching further than I thought. At the moment I assume that the price may reach the support area 32613.28. Then I expect growth and the beginning of the formation of wave 5. The nearest target is the resistance area 33587.94. Manage your capital correctly and competently!...
Just noted that the combined equity index chart showed an interesting bullish setup. The downtrend has been a little stronger than (probably) warranted, and now a sign is showing a probably bounce off a support level. Support broke and the next day rebounded to recover. This formed the bullish Piercing Line Pattern and it reclaimed the support that was broken...
Dow jones is green today and going to test resistance at 32230.
Key events: USA - Average Hourly Earnings (MoM) (Sep) USA - Nonfarm Payrolls (Sep) USA - Unemployment Rate (Sep) US stocks faced a minor setback on Thursday, recovering from earlier session lows, as investors awaited the monthly jobs report to gain insights into potential future interest rate trends. The S&P 500 managed to maintain its position above the...
Dow Jones (DJI) is rising following a vastly oversold 1D RSI reading (reached even 23.60) at the bottom of the (blue) Channel Up. Based on the RSI pattern itself, we can draw comparisons with the December 2022 - March 2023 correction. According to that the 1D RSI has one more Low to make before it bottoms and that bottom will be leg (e). This will justify the...
Good Morning! Trying to get an idea of where #stocks may go. IMO bias is up BUT we cannot be deterred by biases, can we? TVC:DXY 4Hr is showing weakness. Circles = moving avg bear crossovers. We see the quick drops BUT they RECUPERATE hours later. The 2nd chart shows DAILY vs 4Hr. Makes it easy to see how decent the drops are. TVC:DJI TVC:NDQ SP:SPX
Traders, With the dollar and VIX down, there are no surprises with our SPY chart showing a nice big green candle on the daily. The question remains though, will we stay in my channel and above the 200-day sma or will we continue to proceed down to the H&S target of 410? My best guess is that we'll remain in our channel. As postulated previously, the 200-day SMA...
Bear rallies tend to be the MOST FURIOUS!!! Be careful but take ADVANTAGE!!! SP:SPX upcoming resistance @ 3 areas: 4280 Moving avg is a little above that (weakest resistance imo). MAJOR = 4330 (it closes above this will post further levels). Keep an eye as the RSI closes in on 50. #stocks DJ:DJI TVC:NDQ TVC:RUT TVC:VIX TVC:DXY TVC:TNX #GOLD #SILVER
TVC:DXY on left in all charts (only DJI shown here) DJ:DJI & CBOE:SPX & TVC:TNX on right. Short term we are badly due for some sort of relief rally, we nibbled in this area AMEX:UDOW AMEX:SPXL Not sure how high this can go so we have been nibbling and will sell in tranches. #stocks TVC:NDQ AMEX:DIA AMEX:SPY NASDAQ:QQQ
Historically, the YELLOW support area NEVER holds when TVC:DXY is on its way back down. HOWEVER, the US #Dollar is showing strength. (this is vs a basket of currencies that are also weak.) 1st time it bounced back this hard. This looks like it wants to keep going, longer term. We'll see. This is NOT good for #stocks (longer term). TVC:TNX has been trading closely.
- strong resistance around 340 - bearish divergences - bearish S&P500 (coming recession)
The dow broke below the Symmetrical Triangle and it was beautiful text book style. We set the first target at the bottom of the pattern at 33,607. Now that the momentum is still negative, we can expect it to head to the next target at 32,622. The signs are all bearish and this is one of those hold and adjust stop loss if need be.
DJI Chart Checking some TA, which I should have done more thoroughly on SPY, I would have seen the obvious TA screaming we go higher. Both the SPY and DJI technicals are stating we go higher. RSI, MACD, MFI, and 50MA are pointing to higher moves in the market. In fact, taking a look at the 10YR is another confirmation of where we're heading.
We are at a crossroads. As if we have nothing to invest in. Gold is, in absolute terms, highly overpriced. Gold is more than 50% above the 24 year average. And highly diverging... It still is the massive elephant in the room. Yield rates are the small rat in the room. Due to fast rate hikes, the bond market has suffered incalculable losses. Gold...
Dear colleagues, I assume that wave 4 is coming to an end and the price is in the area of long positions. I believe that the price will reach the resistance area 34067. Perhaps the price will renew the minimum. Be careful. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Dow Jones is priting a bottom on the newly emerged Channel Down which calls for a short term buy. The same kind of formation was witnessed in middle March on the long term bottom pricing when the (recently broken) Channel Up started. Trading Plan: 1. Buy on the current market price. Targets: 1. 34400 (MA50 1d). Tips: 1. The RSI (1d) is on the 30.00 oversold...
SPX is plowing through higher highs. It is a runaway train. Have you entered that train yet? You better enter it because SPX will soar! But runaway trains have the fate of collapsing in on themselves. Their weight is too much for the foundation to sustain. Not all is SPX. VIX is also attempting to measure the risk involved in SPX. And VIX is as bullish as it...
Dow Jones / US30 hit the bottom of the Channel Down that is correcting the index to the Rising Support of the larger Channel Up pattern. It did cross under the 1day MA200 (bearish) but on the other hand the 1day RSI is rebounding on the Oversold Support (bullish) like on the March 13th low. Keep a tight SL on the low of the bottom candle and buy. Target 34400...