PapaOfFour

PapaOfFour

Set to fall below 28400 with target 24962(25000) Election fears, undercutting stimulus, and no vaccine till December target time frame 2nd week September As always not investment advice, just observations.

PapaOfFour

This longer term chart many of you may remember. At a crucial point for the Dow. Election concerns likely to push lower, but a break above indicates all the juice that’s been pumped into the economy, in covid stimulus, is enough to overcome political uncertainty, and the potential of an authoritarian state. If the markets aren’t free does anyone want them? Will a...

PapaOfFour

Recent pull back healthy, expecting rally this week. Upside still capped by bear trend, expecting to form a range through the fall. LT key support at 18213. As always not providing investment advice, do your own work. Just keeping a diary of potential market direction and looking to develop a trend.

PapaOfFour

Continuing from my last post it looks like the opportunity to get back in is presenting itself. Areas I look to load up are circled, a break below signals further selling, and would re-evaluate the opportunity for a double at 18213, but otherwise the upside is preferred. As always do your own due diligence, I’m not giving investment advice, just trying to predict...

PapaOfFour

Dow acted very predictably again yesterday, bouncing of the illustrated orange/green cross. Currently sitting a just under resistance at 24050. As noted yesterday this is a pivotal area, failure here could retest the recent low of 18213. and eradicate recent gains. A break above, is likely to return to 24050 in consolidation before ultimately moving higher. Given...

PapaOfFour

For those of you following, it’s the same familiar chart. The Market has been reasonable predictable up to this point. It is a pivotal week for the Dow. Currently capped by 24050, pulling back to the orange green cross illustrated. From there should take another Run at 24050, a break above leaves targets in place, but failure here retests 18213, which is unlikely...

PapaOfFour

Market took the first option from previous post. Targets remain in place, Traverse orange to break out, again in near future. As always, do your own DD. Not trading advice.

PapaOfFour

Reminder considering previous post that a pull back here is healthy. Two potential opportunities for entry Long. A break of 18211, signals that we go lower but an opportunity to reposition will be offered. In all other cases that, the market finds support above 18211 target 27,000.

PapaOfFour

Anticipating a lower open. Options as illustrated from 20850 or 18220 depending on how low we open. A break at 18211 risks 13500

PapaOfFour

Update to last post as more becomes clearer. Bigger IHS, risk of failure at neckline stil a possibility, targets as illustrated, buy a pull back.

PapaOfFour

Thoughts 2 outcomes, may be dictated by Congress. Potential Inverted Head n Shoulders. Neckline solid black. Pull back to either of the areas marked red for LeftS. Any breakout liable to be capped ST by cross resistance (red) and new MT down channel (orange). Short term bullish bias hints at a break above resistance, to target 26007. However, failure at neckline...

PapaOfFour

Clear W on 45 Think this is what is called an Island Reversal (See com)

PapaOfFour

See chart, after target head, right Shoulder On pullback, rally 20000

PapaOfFour

Waiting to hit short target @ 18211, Reversal with a little help from the congress expected run to 21532 23700 26005

PapaOfFour

See chart

PapaOfFour

Short term we are capped by resistance, and the seeking should resume shortly, and continue tomorrow. Similar trend in RSI,

PapaOfFour

As mentioned in previous posts, next real support is around 18211. I say around because this panic selling is likely to cause us to overshoot before a bounce above and then test of the support. That has been the pattern as this bearish channel continues to form. We are over due for a run up, to test and further define the upper boundary of this decline and all...

PapaOfFour

As you can see the nice orderly channel was disrupted by an address from the Oval Office, Clear break on support at the close, and breaking into a deeper channel also. Looks like 18000 here we come and probably in short order. A reversal around 18000 is probable, but don’t be too eager to get on board, wait for confirmation, because until then the only real...