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DIA

DJI Dow Jones Short???Hello there! Great news came out yesterday regarding the interest rates by May 2023. Regardless, a great pump in market yesterday. But with such actions opportunities arise that can be seen while charting the trend. Here we have Dow Jones Industrial DJI shown: - A previous falling wedge worked it self into a nice pump. - Heading into correction territory. - How do you find where the correction will retest and bounce? -- Take a look at the previous Unclosed gad in green box at the 1HR chart. Gaps eventually will have to be closed. -- Also take a look at the FIB where the 0.618 lands, right at the GAP. What are your thoughts? Thank you for taking a look. Cheers.
DJ:DJIShort
by MARKETLYTICAL
Short DIA @ prior months resistance Once an area or “zone” of prior resistance has been identified, those price levels can serve as potential entry or exit points because, as the price reaches a point of previous support or resistance, it will do one of two things: bounce back away from the support or resistance level, or violate the price level and continue its trend until it hits the next support or resistance level. As most other major market indices are at 200-day SMA support we are taking a short position in DIA at the prior months' resistance zone.
AMEX:DIAShort
by HodlTradeCrypto
QQQ Sustained Uptrend representing a retracement down to the Fib 0.382 level from the top one week ago on the 30 minute time frame. Double bottom at the fib level. Additional confluence from the anchored VWAP -3 stand deviations as well as now a gain today into the price of the POC line of the local volume profile confluence into the VWAP. Apparently, there are now buyers who will need to pause for the holiday. This appears to be a rally of sorts for this index fund and a decent long setup. The call options with Friday's expiration did quite well.
NASDAQ:QQQLong
by AwesomeAvani
SPY Cycle Patterns For Thanksgiving Week - Sideways Melt-UpHere you go. This week I expect the markets to melt upward with a couple of bottom/momentum bottom patterns as well as holiday trading liquidity. This week may see some volatile price swings, but overall I believe the US markets will continue to melt upward. As we near the end of the year, I expect some traders to try to pull out of positions (anchoring in tax losses) and repositioning early in 2023. Enjoy your holidays with family/friends. Follow my research if you are looking for more detailed analysis of the US/Global markets.
AMEX:SPYLong
by BradMatheny
1
SPX / ES - Get Ready for a Head Fake, and an OpportunityIn my recent calls, I have made predictions for Apple to set new all time highs, Tesla to print at least $250 again, and Nasdaq to 14,000. However, whenever price action fails to follow suit with expectations, one must revise, revise, and revise again the situation at hand. With this week's price action topping on Tuesday after what should have been a significant bull catalyst in the lower CPI print, causing SPX and Nasdaq to go as wild as the Dow has, it can only be ascertained that the makers not only do not want to go higher, but are likely to head lower, and they'll be in a hurry. I have been simultaneously conflicted by the fact that I do expect SPX and Nasdaq to run to their COVID lows with the fact that there isn't any news primed until December and timing is awkward with the next FOMC being a month away and US Thanksgiving being late next week. There's a significant fractal from June daily bars that's very similar to where we're at now, where we ultimately made the Low of the Year, which held until September, and then October. The problem is that everyone is expecting a dump, because although there really isn't any fear and nobody is actually positioned bearishly, the sentiment is still bearish. I said on Twitter the other day after hearing that Michael J. Burry from Big Short 2008 GFC fame said "You have no idea how short I am," that these types of guys are allowed to tell you what is going to happen, but not when it is going to happen or where it is going to happen. They're allowed to speak the truth insofar as it makes retail offside. If they were to really reveal the truth that they know, they would disrupt the markets and their access to credit facilities and swap lines would be revoked. What I mean by the above is that for retail, you're going to be baited into going hard on puts and shorts, but this isn't yet the moment of impact everyone who believes interest rates and recessions mean SPX 2,000 straight line no bounce have been waiting for. Meanwhile, although the VIX isn't showing much in the way of signs of life, the put to call ratio is as high as it's been since 2008 quietly starting around Wednesday. The US Dollar Index has also started to show poppyness after running a key low. Signals are great, but price action has to confirm, and as of now, it indicates that the indexes and stocks do not want to trade higher. Thus, what I believe and am expecting to happen is that indeed we do dump, and violently, and fast. It is imminent. Perhaps as early as Sunday futures open. It will be scary. However, what I think is that the dump will really be a bear trap. It won't go as low and it won't stay as dipped as everyone is expecting. When it starts to bounce, it will bounce a lot, and hard, and catch people off guard. This time, there won't be a retrace. Thus, what I am anticipating is for the SPX to print at least a low 3,600s tape. More likely, I believe SPX will actually trade back toward 3,500, but not take the low out. What I want to tell everyone is this: You need to stop listening to the Stocktwits and the Twitter and the Discord and the WhatsApp feeds. You need to unfollow these guys that are filling your head with notions about interest rates and yield curves. The more you fill yourself with those concepts, the more you will be manipulated into trapping yourself offside and the more you will be unable to take advantage of the real move. The more you will blow your accounts. The reason is, there is a logic behind why bear markets rally so hard. A bearish market rallies, simply put, because smart money doesn't sell low like you do. They sell high. So they sell high, buy back low, sell high, buy back low, and the market has to be engineered around this, or they won't participate, because losing money means death. The next bear market rally is going to be like 40%, and it's going to be rather impressive. Bears will be so angry, not realizing that the rally's climax is the "Big Short" they've long been awaiting. Allow me to issue my own "Cassandra": Be warned, for when all the stocks and the indexes are high again, the day the Chinese Communist Party will be thrown out from this world is during Beijing time, not New York time. It will happen in the middle of the North American's night. It will catch very literally almost everyone off guard. The limit down when the NYSE opens that day will be 15% on indexes and it won't be the bottom, it won't bounce. That day is very close. Nobody expected the USSR to fall, and yet Gorbachev and friends threw it away anyways. China's traditional 5,000 year dynasty culture is mankind's only hope for a future, and it will absolutely be not only preserved, but resurrected.
CME_MINI:ES1!Short
by LordWrymouth
14
The Carry OverGood morning. Yesterday's action brought some carry over/follow through from Friday, finishing the day with about a 1% gain. We have three types of patterns going on right now in the markets'. QQQ is telling us to sell, DIA is telling us to buy and SPY going nowhere. We bounced off the 20 day, stopping at the 50 day on SPX. So the question is: Is this ABC correction going to hold? It's going to need motivation if it's going to follow through on the roll over. And the CPI report on Thursday could be what tips this over. Most are saying that the report is going to be higher than expected. So if the FED is still hawkish. The CPI report favored coming in higher. Why would the markets continue higher? Only time will tell. Plan for the Day: We can still run up and visit 3850ish and be in line with our ABC correction. That's the area I really wanted to see the price action to confirm the end of this ABC correction. If there are many rejections at the 3850 area, I might want to get into a low risk short (1% of my portfolio) and put it out 4 weeks. If we trade sideways, I'll wait again tomorrow to get a better entry on a short position. If this blows through 3850 today or tomorrow and makes it's way to 3900, I'm going to sit on my hands until I see the 20 day cross over the 50. Then, I'll turn bullish. Again, be patient, stay disciplined and trade the markets in front of you. Happy Trading!
SP:SPXShort
by MMOTA_
Dow Jones Weekly Volatility Forecast 7-11 November 2022Dow Jones Weekly Volatility Forecast 7-11 November 2022 We can see that this week our volatility is at 3.25% which declined from 3.45% last week. Currently according to ATR we are on 55th percentile, and according to VXD we are on 30th percentile, indicating in both cases, that we are currently is a stable market. Now, based on the implied volatility data that we have for this week, lets look into further details. We can see that currently there is 20.7% chance, that our candle is going to close at the end of the week either above/below the next channel TOP: 33385 BOT: 31160 This can also be translated as a 79.3% chance that the market is going to move within this established range. At the same, looking at the previous high/low values of the candle, and taking into account the entire history available of data, we can expect that there is going to be a 35% chance that we are going to touch the previous high of 33100 70% chance that we are going to touch the previous low of 31700
CBOT_MINI:YM1!
by exlux