DJI | Wyckoff Distribution

Updated

You might not recognize this chart. To get some background on it, refer to the linked idea down below. You will find it in my profile.

As it turns out,it looks like we are in a classic Wyckoff Distribution. It is remarkable that this is hidden beneath our noses.

The timing and the accuracy of the future phases may not be completely correct, the path is illustrative of the phases, it isn't drawn using wave theory.

I will gladly accept any helpful/corrective comments regarding this.

Tread lightly, for this is hallowed ground.
-Father Grigori

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Make sure to follow my previous idea linked below. You will get a new perspective of the September 13 selloff, and macro analysis using similar pairs like SPX*DXY and DJI/M2SL.

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Note that Upthrust after distribution may not occur, instead last point of supply immediately follows. The timeline may vary significantly.

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This even works for 2008, in a sloped fashion. This may not be entirely classical being sloped. I invented it just now.

The white path is a sub-distribution. I invented it now as well.

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Revised

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The importance of normalization:

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Look at this Head and Shoulders that is shaping in the RSI of SPX

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If this chart is of any meaning (DXY*DJI/100), we have reached an important resistance level.

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Update:
Pattern taken from November 2000

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Are we in UTAD??

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It's not just DJI which is in distribution, everyone is.
The DXY comparison shows it more clearly.
Perhaps DJI will have an UTAD, while the others won't...

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There is a reason I tell you to tread lightly. Do you have an exit strategy?

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Are we already in UTAD ???

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Another long-term distribution! Inspired by SPY_Master

Here's Why the Stock Market is at Risk of Further Decline

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A closeup, with a pattern from 2008

Trade active

So far so good!

akikostas

Related publications

SPX | How much is today's damage? | Are we in a recession?

by akikostas

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