YM1! US30USD YM1! Dow 2021 Nov 15 Week Demand at 35777-35880 returned to support the market on Friday. However a downtrend channel has formed. acceptance at 36135 will mean resumption of uptrend. Weekly: Average volume very wide spread down bar closing off low = some demand present. Daily = Average volume up bar closing off high = Weakness. However...
In this update we review the current bullish sequence in the Dow and identify two high probability trade locations to play a wave 4 correction and then the wave 5 extension to the upside
YM1! US30USD YM1! Dow 2021 Nov 08 Week Long on pullback for last week was good. No surprise that price returned to test 36066. 35777-35880 must hold for uptrend to be intact. Weekly: Average volume up bar closing off low = weakness Daily = Average volume up bar closing off high = Weakness H4: Reversal pattern has formed. Wait for Monday's US hours to...
YM1! US30USD YM1! Dow 2021 Nov 01 Week Previous high test and reject and Test and accept of 35365 were good. Weakness expected, but no change in trend yet. Strategy will be to Long on test of lower level and short on rejection of higher prices Weekly: Narrowing of spread even on higher volume = weakness (no change in behavior yet) Daily = Average volume...
US30USD YM1! Dow 2021 Oct 25 Week Market approaching previous high Some whipsaw expected. Preference is to long when price come to test the lower levels. Weekly: Price advanced on lower volume. Spread has narrowed = weakness (no change in behavior yet) H4: UHV Upthrust bar with strength in background. If next bar closes higher, this then can be confirmed =...
YM1! US30USD YM1! Dow 2021 Oct 18 Week Market approaching previous high Some whipsaw expected. Preference is to long when price come to test the lower levels. Weekly: High volume up bar closing at high = Strength Daily: High volume up bar closing on high = Strength H3: Shortening of thrust in the last few bars. Keep stops tight if long. Wait for price...
YM1! US30USD YM1! Dow 2021 Oct 11 Week Market had been ranging for 3 weeks, still awaiting resolution of supply and demand. Weekly: High volume up bar closing off high = some supply present. Daily: Friday saw low volume up bar closing off high = Weakness H3: Some demand has returned to support the market from 06 Oct. YM1! Friday's effort from sellers...
YM1! US30USD YM1! Dow 2021 Oct 04 Week The high supply volume mentioned last week manifested in a mighty down move. Fruitful week for shorts. Weekly: Ultra wide spread high volume bar closing in the middle, neither supply nor demand gained ground. Daily: High volume ultra wide spread Up bar closing off high = supply still present = weakness H3: Great...
YM1! US30USD YM1! Dow 2021 Sep 27 Week Eventful week last week as we saw the highest sell volume appeared ever since the up trend. If you are long, tighten your stops. High demand volume reaction up was impressive. Could be covering of loss positions, profit taking and initiating of fresh positions. Weekly: Ultra wide spread high volume bar closing near...
YM1! US30USD YM1! Dow 2021 Sep 20 Week Weekly: Higher volume but narrower spread than previous week, closed off low = some demand Daily: Market supported at 34379, high volume bar closing off low = some demand H4: Shortening of the downward thrust, possible pause in downward momentum / return of strength. Strategy for Short (Test and Reject) Strategy for...
YM1! US30USD YM1! Dow 2021 Sep 13 Week Weekly/Daily: Ultra Wide Spread down bar closing on low, took out previous low 34494. Will this previous support hold? Potential for spring IF price can close above 34494 in LTF. H4: Diminishing volume on decline, we may see some strength return. Strategy for Short (Test and Reject) Strategy for Long (Test and...
YM1! US30USD YM1! Dow 2021 Sep 06 Week Shorting on weakness was good as price was rejected at the 35500 region several times. Weekly: Narrow spread down bar. Price broke through previous week's high but closed below the previous bar = Weakness. Daily = Rotation, whipsaw expected. Last bar is down bar closing below 50% = weakness. H4: Rotation, whipsaw...
YM1! US30USD YM1! Dow 2021 Aug 30 Week Market approaching previous high. Weekly/Daily still uptrend, H4 still rotation. Preference is to short when price breaks resistance and closes below it. If it is breakout, then wait for price to return to breakout level and long. Weekly: High volume up bar = Strength Daily: High Volume Up Bar approaching recent...
YM1! US30USD US30USD YM1! Dow 2021 Aug 23 Week Weakness per last week's analysis proved profitable. Weekly: Ultra Wide Spread UHV down bar close in middle = Strength Daily: Up bar on high volume close above high of previous bar = Strength. H4 = Higher low formed Strategy for Long (test and accept) 1) 34495 - 34569 2) 34775 3) 34948 Strategy for Short...
YM1! US30USD YM1! Dow 2021 Aug 16 Week Weekly: Ultra Wide Spread High Volume bar close off high = Weakness Daily: Upthrust, close lower third of bar = weakness H3: Shortening of Thrust, Upthrust H1: Shortening of Thrust, Upthrust, diminished bullish volume Strategy for Long (test and supported) 1) 35220 - 35268 2) 35165 3) 35000 Strategy for Short (test and...
YM1! E-mini Dow YM1! 2021 Aug 09 Week Monthly - Ultra Low Volume, Ultra Tiny Up Bar = may usher in Change in Behavior (takes time) Weekly = High Volume with Narrow Spread = Weakness, net progress from previous week's high = narrow = Weakness (Note, no change in behavior yet) Daily = High Volume Up bar Close off High (Weakness, keep stops tight) H4 = 2 H4...
Dow Jones is forming a bull flag on hourly, will wait for a breakout.
I have been wrong. My timing is a bit early. The key here is to just trade what the market gives you, basically, continued up moves as it tries for a double top. This week should see the culmination of this short-term uptrend as we get a secondary double top and can begin a summer decline in earnest.