We are short on the DJ30 we expect a bearish push to the down side and any spikes above, as long as the pattern for selling remains active, we will short.
We believe there is a good chance of indices continuing to go down today and this week perhaps.
All the reasons we are short are listed in the chart.
Big divergence here on the rsi and macdh on the Dow hourly below a rising 200 moving average
Great buying opportunity, entered at 29370
Stop at the low of the long wick 29220
Expect a few hundred point move at least
I think this recent rally up is preparing for a big drop. Plenty going on with Trumps health to trigger some big sell offs. Stop Loss i've marked out is super tight returning 1:20. Would be better to place the stop safer, if you don't want to be as aggressive
See chart annotations for entry.
Pulled off a similar move from mid 60s up past 100 in 2016.
Seasonax detrended data shows this stock is typically strong until the end of the year.
Could be dependent on US election result however.
Wide stop to account for several attempts to break through 75 and 200 MA.
ALT
200 MA is down and if price can't break through it...
WEEKLY
Upward move of last 6 months bounced off prior resistance around 12000. Could see a retest of this level. Price recently found support around 10000 and at the channel centre between the 2 MAs.
Conversely, 10000 needs to break if a reversal from 12000 on this timeframe is to be called and price would need several closes below the MAs to confirm this.
ADX is...
Moving up strongly, may pause at current levels.
It's a riskier asset class as again we're not looking at a slow, steady trend. Gone between 300 to 1400 to 80 in the past few years in a Draupner wave type pattern.
Less historical data gives less support and resistance information so we must rely more on Fibonacci levels. Price is around a significant Fib level...
