A break of the DJU trendlines could determine its course for the next several weeks.
A break above the DJU declining trendline from the December 2022 peak could open the door for a rally to 1,000.
A break below the DJU rising trendline from its October 2023 bottom could trigger a move back down to the October 2023 bottom.
A move below the weekly RSI moving...
HELLO TRADER'S THIS IS MY BEARISH TREND Analyze WAIT FOR PRICE TREND RESPECT IN PREVIEWS SUPPORT AND RESISTANCE ZONE AFTER TREND CONTINUE TO DOWNTREND MOMENT IM FOCUS .
Within an Elliott five wave impulse pattern, wave "one" is usually equal to wave "five".
On the daily Utility chart wave "1" = 145.83 points.
The wave "4" high is 773.49 - 145.83 = 627.66 as target for wave "5" bottom.
The DJU rally from March 2009 to February 2020 was 675.14 points x .50 = 337.57 points.
All-time high was 963.80 - 337.57 = 626.23 as target for...
The Dow Jones Utility Average could be the most important US stock index to watch during the week of March 23 to March 27.
This index has the clearest Elliott wave count, showing its probably in the fifth wave down from the all-time high.
There's fascinating short and long term Fibonacci relationships which will be explained in part two of this very important...
Dow utilities index ended the week at 711.
If it breaks above 713 - 38.2 Fib Retracement-, it is likely to test Fib 61.8.
We plan to short DJU at Fib 61.8 - 732.02 -
Note: Bearish Swan at 729-732
The DJUA Elliott wave count of the recent decline is exceptionally clear.
If the count is correct,there could be one more rally for a few days followed by a final decline
to new lows and .618 Fibonacci support.
Note - Alternate count has wave "C" of an "A-B-C" Zigzag complete at either the 1/12/18 low
or to bottomed in the support zone on 1/16/18 - New moon...
The DJUA is nearing .618 support at the same time the Daily RSI is deeply oversold.
Elliott wave analysis indicates downward trend could continue for another five to eight trading days.
***Wave count will be illustrated in my next post.
If the DJUA bottoms soon the next rally could last for several weeks.
Mark
The Dow Jones Utility Average (DOWU) appears t be very close to completing an Elliott wave - Ending Diagonal Triangle (EDT).
The 2017 high is 755.37 the high today is 755.00 with the FOMC announcement on 11/1/17 watch for the DOWU to possibly move
above 755.37. Also rising EDT's usually complete with a slight throw over beyond the upper trend line.
Mark
Hello, ladies and gentlemen! From my perspectve, there is a perfect time for going up of utilities (AWK, NEE, NI, SO and so on). But I am afraid that the possible pull back of SP500 might influence the trends. What do you think guys?
