What a turnaround for ALL the MAJOR averages! As we've been saying over and over again....... The END OF DAY IS WHAT MATTERS!!! *Indices formed an OUTSIDE DAY* Outside days can signify 2 things: CONTINUATION OR REVERSAL (of the current trend) Being that the day ended lower, LIGHT VOLUME though, we will take this as a WARNING!!!!!!! RSI fell pretty hard,...
Dow Jones (DJI) easily hit last week's (December 12) target (37000) at the top of the 2-month Channel Up (see chart below) with the price grinding ever since on its top: That was a short-term signal, today we shift our attention to the medium-term and the 1D time-frame where the 1D RSI is 'insanely' overbought near 87.50, a level it hasn't touched since...
AMEX:RSP vs AMEX:SPY Equal weight vs regular #SP500 We can see that equal weight has been performing better Russell 2000 TVC:RUT is no longer stuck in a rut :) It had a fake breakout in the daily charts in August but look at it now. That weekly is looking Nicely! We've stated a few times that we believed these 2 would be moving better than normal...
Dow Jones reached the top of the Channel Up that started in late October and turned sideways. The longer this pattern stays intact, the more every pull back is a buy opportunity. The MA50 (4h) is supporting since November 1st, showing the sheer strength of this bullish trend. Trading Plan: 1. Buy on the current market price. 2. Sell below the MA50...
Well, what do we got? From EW perspective considering either 1) Leading diagonal since the top and doing some crippled ABC up 2) ABC (3-3-5) down and now having first impulse completed with and expanded fat 32.3 or 35.6 will tell the story --- If you like my content, if it helps you gain profit, give it a like! Thanks! --- Hold my beer pls ---- No...
Dow Jones made new All Time High yesterday and today reached the 0.786 Fibonacci Channel level of the 14 month Channel Up pattern. Needless to say it is massively overbought on the 1D timeframe (RSI = 79.702, MACD = 696.100, ADX = 90.584). The sheer strenght of this rise since the October 27th bottom can only be compared to the first rise of the Channel in...
SPX is about to take off for a %double-digit rally till EoY
custodial paper vs bearer asset quantitative easing vs austrian economics DTCC vs #Blockchain Wall St vs Main st Corporations vs Fat protocol 20th century vs 21st century Interesting double bottom / W forming But it gives us a powerful clue for the coming year or two
FOMC DAY All Major Market Indices initially making progress higher and reacting positively to the the FOMC meeting. Whilst these are monthly charts I'm sharing the prices are updated as of moments ago. Main comments from Powell Today: 🔸TODAY AT FED MEETING MANY PEOPLE MENTIONED THEIR RATE FORECASTS 🔸THERE WAS A GENERAL EXPECTATION THAT RATE CUTS WILL BE A...
Hey Traders, in today's trading session we are monitoring US30 for a buying opportunity around 36500 zone, US30 is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 36500 support and resistance area. Trade safe, Joe.
Two months ago (October 11) we made a bold statement calling for "the start of a new Bull rally under our nose" on Dow Jones (DJI) (see chart below): Many traders/ investors/ market participants have been surprised by the current November - December rally but in reality they shouldn't as the index is methodically repeating the 2016 - 2017 Rising Wedge...
Dow Jones (DJI) maintains its bullish trade within the Channel Up pattern that started on the October 27 Low. The 4H MA50 (blue trend-line) has been supporting since November 01 and as long as it continues to do so, the index is more likely to test the 36975 All Time High (Jan 05 2022). Especially since it is currently on a 4H MACD Bullish Cross. The previous two...
In daily time frame price going retest the major support area . If price reject this zone and close above then buying favorable.
Bearish on short term. I explain it in the video. Too lazy to type it.
I think this is the most important macro trend to pay attention to in our economic history, I see many 1930 comparisons with 2023 saying we are at the "1931" collapse point but all economic data is pointing that we are most likely at the 1927-1928 stage and crazy enough when you compare the macro trends they make the same giant symmetrical wedge pattern. Now...
Dow Jones held the MA50 (4h) today after the initial NFP decline. This keeps the Channel Up intact on its upper layers, aiming for a new Higher High. Trading Plan: 1. Buy as long as the MA50 (4h) holds. 2. Sell if it breaks. Targets: 1. 37000 (Fibonacci 1.78 extension, like the Nov 15th Higher High). 2. 35700 (bottom of Channel Up). Tips: 1. The RSI (4h)...
DJ:DJI is fighting to stay above, hang around resistance. NASDAQ:NDX came back & fighting to chug higher as well. VERY IMPORTANT AREA for $SPX!!!!!!! Strength has subsided but it's not down yet. Could AMEX:SPY retest the highs? TVC:VIX is holding but doesn't look fully awake. Hmmm... #stocks AMEX:DIA NASDAQ:QQQ AMEX:SPY