Dow Jones: the daily trend is now down
Updated
This is rather significant. We can detect that blue chips are now trending down, with possibly drastic implications for the market. If not short, you might look into taking an entry in SPY or DIA, or index CFDs like this one, risking a 3 daily ATR rally above current prices. The weekly low has been, we can also place stops above the recent highest high. I'm looking to short FB depending on the price action in the daily as well. I'll publish it when ready. I detail the reccomended setup on this chart (the 3 atr stop loss entry, the weekly short triggered last earlier).
We are already short SPX500 from around 2173 and holding for more downside, it's just interesting to observe large caps underperforming the market, and underperforming the equal weighted S&P500 index (RSP ticker).
Check out my updated track record here: pastebin.com/6CyyqnPT
If interested in my real time whatsapp alerts and swing trading newsletter, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
We are already short SPX500 from around 2173 and holding for more downside, it's just interesting to observe large caps underperforming the market, and underperforming the equal weighted S&P500 index (RSP ticker).
Check out my updated track record here: pastebin.com/6CyyqnPT
If interested in my real time whatsapp alerts and swing trading newsletter, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Note
If that isn't a top then I don't know what it is...
Note
Still below the daily mode here, unlike SPY which is a bit more bullish.News might send it down today:
1h 8m USD Baker Hughes US Oil Rig Count
4h 8m EUR Bank Stress Test Info
If not it'll take until NFP is out and it'd be wiser to bail from shorts until then.
Note
Pretty confirmed at this point.Note
Check my new SPY post for my current view. This idea is not valid anymore.
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