It's more than 2 weeks since we looked into Dow Jones (DJI), giving a bullish rebound signal on the 1D MA50 (see chart below) that quickly hit its target: The price is now significantly above the 0.786 Fibonacci retracement level, which is roughly where the previous bullish wave of March - April took a medium-term pause and pulled-back first to the 1D MA50...
Hi everyone. Been out for a while, there's a reason for that. Market consolidating, no need to update much. Now we're on the verge of the beginning of the somewhat altseason. So now is the time to update. Let's make a small remark, Others.d chart(capitalization of top 150 altrcoins) has pumped 20% today, huge sign for altseason. Now let's dive into this coin...
We are still working on the wave (2) as an ABC structure. The wave B is unfolding as an ABC pattern. As we came close to the wave (2) area and based on the NASDAQ and S&P 500 analyses, the alternative scenario calls for the end of wave (2) as a WXYXZ structure. Price action in the lower time frame will further guide us in these two scenarios. If we start to turn...
We are still working on the wave (2) as an ABC structure. The wave B is unfolding as an ABC pattern. As we came close to the wave (2) area and based on the NASDAQ and S&P 500 analyses, the alternative scenario calls for the end of wave (2) as a WXYXZ structure. Price action in the lower time frame will further guide us in these two scenarios. If we start to turn...
Dow Jones is unfolding the second rally sequence of the 1 year Channel Up and has reached today the 0.786 Fibonacci level of July's High. The 1D technical outlook is about to turn overbought (RSI = 68.650, MACD = 236.580, ADX = 32.415) and as the rally approaches the R1 level (35,100) as well as being almost on the +9.05% range from the bottom, we are looking...
We are still working on the wave (2) as an ABC structure. The wave B is unfolding as an ABC pattern. As we came close to the wave (2) area and based on the NASDAQ and S&P 500 analyses, the alternative scenario calls for the end of wave (2) as a WXYXZ structure. Price action in the lower time frame will further guide us in these two scenarios.
Dow Jones (DJI) is having an excellent rebound ever since our October 31 buy signal (see chart below), which we issued after the index bottomed on the Higher Lows trend-line of the 12-month Channel Up: The price broke today even above the 3-month Bearish Megaphone, which was the pattern that executed the Channel Up correction. Today's rebound is being done...
We are still working on the wave (2) as an ABC structure. The wave B is unfolding as an ABC pattern. As we came close to the wave (2) area and based on the NASDAQ and S&P 500 analyses, the alternative scenario calls for the end of wave (2) as a WXYXZ structure. Price action in the lower time frame will further guide us in these two scenarios.
Dow Jones is on course to form a Golden Cross on the (4h) time frame within 2 days. Despite being bullish medium term, this pattern has caused a minor short term pull back all the prior 3 times it emerged in 2023. Trading Plan: 1. Sell on the current market price. Targets: 1. 33750 (-1.20% decline, same with all previous cases). Tips: 1. The RSI (4h) got...
Dow Jones / US30 crossed on Friday over the 1day MA50 for the first time since September 15. It hit Resistance A (34150) which was the October 17th High and completed so far 5 green days in a row almost at the top of the Bearish Megaphone. The long term pattern is a Channel Up, so there is still considerable upside left. The 1day RSI also crossed over its...
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In the higher time frame, we are working on a corrective move down. The primary scenario is now suggesting that this happens as a WXY structure. It looks like we are working on a wave X as an ABC structure.
In the higher time frame, we are working on a corrective move down. The primary scenario is now suggesting that this happens as an ABC. The five waves down from the high might also indicate a bearish flat scenario. In the lower time frame, we did not respect the wave ((iv)) area of a potential wave 5 of wave A. Therefore, it looks like we are doing a WXY and the...
In the higher time frame, we are working on a corrective move down. The primary scenario is now suggesting that this happens as an ABC. The five waves down from the high might also indicate a bearish flat scenario. In the lower time frame, the final wave ((v)) of wave 5 of wave A looks incomplete. If we do not respect the wave ((iv)) area, it looks like we will...
Dow Jones went from oversold to neutral on its 4H technical outlook (RSI = 51.457, MACD = -63.520, ADX = 28.038) as the price bottomed on the LL trendline of the three month Channel Down and rebounded straight to the 4H MA50 today. This is the short term Resistance, a closing above it confirms the 2nd part of the rally to the 4H MA200. The 4H MACD is on the same...
Dow Jones (DJI) hit the bottom of the long-term Channel Up pattern by completing leg (e). This is a similar structure to the (a) - (e) sequence that bottomed on March 15. Technically this is the best buy opportunity on the index in the last 7 months. On top of that, the 1D RSI is on Higher Lows during the prices (d) - (e) wave, showcasing a huge Bullish...
Dow Jones / US30 reached our desired buy level based on our last idea (chart at the bottom), which is exactly at the bottom of the 11 month Channel Up. It kept the 1week MA200 intact once again (has been since October 2022), so that maintains the long term trend bullish. The shorter pattern is a Bearish Megaphone and as mentioned previously, our target is for...
In the higher time frame, we are working on a corrective move down. The primary scenario is now suggesting that this happens as an ABC. The five waves down from the high might also indicate a bearish flat scenario. In the lower time frame, the final wave ((v)) of wave 5 of wave A looks incomplete.