You can see a triangle formed on the uptrend from february, now broken. We also broke from an extended inside bar consolidation (yellow channel). If short from higher there's a good case to keep something on the table here. If not, a break of 18k should offer a pull back and retest as resistance. If that holds should be a good entry for the green levels...
Currently wave (C) is underway and its possible target price near $71. I will buy some when price find ground here.
Wave 5 is going to be continued, so we could have 20000 soon.
When looking at the daily bollinger bands width (bbw) there have only been four other times where the bb were as tight as they are now. Years 1964 & 1965 and year 1995 before the huge breakout into the year 2000 high In all of the previous times the S&P500 was in a small pullback then rallied 5%-6% which I believe it could do again. I believe buying the dip is...
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Here is a chart that looks at market moves over the last year and the technical signals that have predicted future returns.
It seems only volatility in Utilities can truly threaten equity , so that this might be the ultimate indicator for going short equity . Right now the danger level is very low, because Utilities are through the roof.
DOW just broke below a black line that extends back to 1932.
As i mentioned last week post DJI fell minor 4th wave correction. In that corrective wave (A) wave could be completed @ 17720. Wave (B) is going to progress target for this (B) wave 17900.
We have three head and shoulders patterns nestled within one another like Russian dolls. The first two patterns are now confirmed and have played out, and now a return to the neckline number 2 (yellow line) will give a good short entry for us to aim to break the third neckline (green) and continue a correction of the rise since mid February. If that third...