DJI (2H) - Wall Street potential move north
Updated
The DJI has reacted in panic mode for many days. It is at this stage relatively oversold on a 2H time frame (only). In this screencast, I show a 'theory of curves' situation which possibly shows a 55% probability north.
Please NOTE carefully that this leaves a 45% probability for the south. Probability estimates base on technical indicators are not 'predictions'. I do not do predictions.
What this means is that on this time frame only price could STILL MOVE SOUTH to an estimated 45% probability.
My probability estimate is also influenced that the Fed is to extend a total of approximately
USD 14 Trillion to the markets. The FED also has the means to purchase stocks in the stock markets.
Disclaimers: This is not advice or encouragement to trade securities. No predictions and no guarantees supplied. If you make decisions based on opinion expressed here and you lose your money, kindly sue yourself.
Please NOTE carefully that this leaves a 45% probability for the south. Probability estimates base on technical indicators are not 'predictions'. I do not do predictions.
What this means is that on this time frame only price could STILL MOVE SOUTH to an estimated 45% probability.
My probability estimate is also influenced that the Fed is to extend a total of approximately
USD 14 Trillion to the markets. The FED also has the means to purchase stocks in the stock markets. Disclaimers: This is not advice or encouragement to trade securities. No predictions and no guarantees supplied. If you make decisions based on opinion expressed here and you lose your money, kindly sue yourself.
Note
FED balance sheet 42% of GDP @ 2020-01-26. Does money have value anymore? [Different perspective on the virus youtu.be/NjTdvALChwk ]
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.