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Djia

US30 Liquidity on bot sides of range. When will it dissolve?The tight range serves for alot of stop losses above and under both these key levels. One side will get taken first, and probably serve as a trap, after which we see a reversal to the actual direction. (my bias is currently to the downside as the final direction due to fundamentals and broader trend(s)) Although I by no means recommend trading off my bias or trading off this idea at all, especially if you're unfamiliar with the ideas put forth. The red line should also not be seen as a prediction, merely as a drawing to indicate what I mean by reversal to actual direction with my bias. It could just aswell take bottom-side liquidity first and then run to the upside. Don't predict, react.
U
by yoaquimboom
1
Boxed In...6th January 2023🖼 Daily Technical Picture 📈 ➤ S&P500 gapped lower and did not recover. It finished the day sitting on the support level. Price is clearly boxed in a consolidation phase as illustrated. ➤ Exponents of Elliott Wave Theory could interpret the current price action in two ways. In the Bullish case, price is developing an ABC corrective pattern after the 5 wave impulsive move off the October 2022 bottom. The Bearish interpretation is that price is in a wave 2 retracement as part of a 5 wave impulsive move lower from the December high. In either case, it points to a choppy period with a resolution soon. ➤ I currently hold a moderately sized long position. ➤ Conclusion: Who's right and who's wrong?
AMEX:SPYLong
by mrstockyetoro
1
First Opportunity...5th January 2023🖼 Daily Technical Picture 📈 ➤ Once more optimism helped equities start higher in morning trade. Not surprisingly, that enthusiasm waned again as price filled the opening gap by falling back to the support level. The difference today was that the price recovered to close the day above the opening. ➤ Given the strength, I have taken this opportunity to open my first trades of the year. I'm looking for continued strength. The first hurdle is to break above the consolidation high at 387.3 on the $SPY, 390 is then the second hurdle. I don't expect to hold this buy position for long especially if price stays within the consolidation or fails to the downside. ➤ I currently hold a moderately sized long position. ➤ Conclusion: We're off to the races.
AMEX:SPYLong
by mrstockyetoro
DOW JONES Critical session tomorrowThe Dow Jones Industrial Average (DJI) remains within the medium-term Triangle pattern that is trading since December 16 and broke today above both the 1D MA50 (blue trend-line) and 4H MA100 (green trend-line). The two have formed a Bearish Cross and the last two times this pattern emerged was on September 12 and May 04, both Lower High rejections that led to new market Lows. The 1D RSI pattern however shows that we may already be on a market Low and if we close a 2nd straight green 1D candle (tomorrow), it invalidates all prior bearish bias. In that case, we will target again the 34300 Resistance (August 16 High) and the 34910 Resistance (December 13 High). The index turns bearish if it breaks below the 1D MA200 (orange trend-line), which made a perfect bounce on December 20. In that case we will target 31725 (Support 1) on the short and 30100 (Support 2) on the long-term. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
U
by TradingShot
New Year, Same Same...4th January 2023🖼 Daily Technical Picture 📈 ➤ First day of US trading in the New Year displayed the same volatility as we have come to enjoy/get used to. A firm positive start filled with promise faltered to finish in the red. I hate to repeat it, but once again the support level held. ➤ A break up or down from this small consolidation/sideways market since mid-December should have some legs. The Bearish scenario should be favoured given the lack of bounce to the upside after the recent sell-off in recent weeks. ➤ Value/Mega-cap stocks like the DJIA index hover above the 200-day moving average. Still displaying strength relative to growth/smaller-cap stocks. ➤ I currently hold no positions. ➤ Conclusion: No let up on volatility. Opportunities are coming.
AMEX:SPY
by mrstockyetoro
1
New Year, New Start...3rd January 2023🖼 Daily Technical Picture 📈 ➤ S&P500 is still holding the support level. The longer this goes on, the more favourable it is for the Bears. Without a notable bounce after the steep sell-off since the December high, this shows that Bulls have little conviction to push prices higher. ➤ Still, it is a new year and historically January is a positive month due to the "January Effect". Of course, this didn't work out last January. ➤ The broader picture also shows a holding pattern. The S&P500 has made little headway up or down since May of 2022. It has spent much of that time gyrating +/-10% from current levels. The longer this pattern lasts, the larger the resulting directional move. We have no influence on that direction nor the timing. ➤ I currently hold no positions. ➤ Conclusion: It's going to be another great trading year (hopefully).
AMEX:SPY
by mrstockyetoro
1
DOW JONES Will it invalidate the 2022 bearish fractal?The Dow Jones Industrial Average (DJI) has been stuck within a Triangle pattern (dashed lines) since it hit and bounced on the 1D MA200 (orange trend-line) on December 20 but has a clear rejection on the 4H MA100 (green trend-line), which is the short-term Resistance. At the same time we can also see that the 1D MA300 (yellow trend-line) has also resumed its old role as a Resistance, having kept the index below it form April 22 to November 10 earlier this year. The 1D MA50 (blue trend-line) is now the pivot but technically in 2022 when it broke as Support, Dow kickstarted major sell-offs. Both on April 22 and August 28, the major sell-off were confirmed and Dow extended the selling to a new market (Lower) Low. This is however the first time since December 20 2021, so basically a whole year, that the 1D MA200 is acting as a Support. At the same time, the RSI on the 1D time-frame is more similar to the May 20 and September 27 lows. As a result we have technical proof to believe that as long as the 1D MA200 holds, Dow Jones has more probabilities to attempt a test on the 34300 former Resistance (August 16 High) and then move for the 34910 December 13 High. Closing above the 4H MA100 will confirm this move. A closing below the 1D MA200 however has more chanced of testing the 31725 (Support 1) and 30100 (Support 2) levels successively. Notice how proportional the Bottom-to-Top and Top-to-Bottom sequences have been since the February 24 Low. If the symmetry continues to hold and of course assuming Dow breaks below the 1D MA200, the next low should be around early February 2023. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
U
by TradingShot
4
⇄ Sideways...30th December 2022🖼 Daily Technical Picture 📈 ➤ Equities bounced nicely. S&P500 recovered above the support level. European indices bounced off the 50-day moving average. ➤ Sideways would be the appropriate term to sum up the price action for 2/3 of the year. If we look backwards to May, the S&P500 has not made any progress up or down. Price has oscillated around current levels by +/- 10%. ➤ It feels like we are in a holding pattern. The longer this pattern lasts, the larger the resulting directional move. We have no influence on that direction nor the timing. Only the Market can decide on the when and where. ➤ The Bulls could argue that despite all the negativity, the equity price has held up well. The Bears would argue that only one shoe has dropped, the other shoe is about to. Either way, next year will be intriguing. ➤ I currently hold a +68% long exposure. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction. ➤ Conclusion: Intrigue is good, but making money is better. Let's do it together next year!
AMEX:SPYLong
by mrstockyetoro
Final Trade...29th December 2022🖼 Daily Technical Picture 📈 ➤ The last trading days of the year are upon us and the state of the equity market are very different to preceding years. It's time to waive goodbye and say good-riddance. Let's cheer for a sea change in the New Year. ➤ I made one last Trade to see out the year. Although the S&P500 broke below the support level it has not broken below the recent low of the last week. There's a good probability of a bounce here. ➤ The European indices are sitting just above their respective 50-day moving averages. They too may bounce. ➤ I currently hold a +68% long exposure. My US positions were cut today. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction. ➤ Conclusion: Back in the action.
AMEX:SPYLong
by mrstockyetoro
2
Low Low Low Low...28th December 2022🖼 Daily Technical Picture 📈 "Shawty had them apple bottom jeans (jeans) Boots with the fur (with the fur) The whole club was lookin' at her She hit the floor (she hit the floor) Next thing you know Shawty got low, low, low, low, low, low, low, low" ➤ That's the lyric from the song by Flo Rida. I had to look up the meaning of "Shawty". It is usually a reference to a young and attractive woman. Sexist or not this term nicely describes what's happening with the NASDAQ and the sexier (ahem...speculative) tech names. It looks like it wants to finish the year low low low low. ➤ The whole club (market) was indeed lookin' at her. All imagining the boundless future you could have together...except like many, we were late to the party and the music was about to stop. She's been dancing on the floor this whole time. Next thing you know, she literally did hit the floor in the most unflattering way along with all our dreams. ➤ OK, that's a bit over dramatic but you get the point. As usual, the masses piled on late to an overinflated market and that meant the party was about to end. ➤ With today's price action, once again we had a false dawn. Pre-market was firmly positive only to see it whither away by US market open. NASDAQ leading the indices lower. It's not pretty and getting tiresome. ➤ I currently hold 0% exposure. My US positions were cut today. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction. ➤ Conclusion: Back on the sidelines.
AMEX:SPY
by mrstockyetoro
Same Same, 27th December 2022🖼 Daily Technical Picture 📈 ➤ Thing's pretty much look the same as expectations prior to the Christmas Holidays. I'm expecting equity prices to bounce higher. The extent of which will tell us if the Bulls can regain a foothold or the Bears once again take control. ➤ Price again bounced off the Support level at 379/380 on the SPY. Pre- US Market Trade in Asia is firmly positive. Pre-hours have been wildly unpredictable of actual direction during US Trading hours. ➤ I currently hold +34% long exposure. My European positions were cut but I may re-enter depending on today's action. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction. ➤ Conclusion: Watch for the Bounce (if any).
AMEX:SPYLong
by mrstockyetoro
DOW JONES turned the 1W MA50 into Support?This is the Dow Jones Industrial Average Index (DJI) on the 1W time-frame where we look into the current 1W (weekly) candle. As you see, the index managed to turn around the mid-week negative sentiment and closed the week above the 1W MA50 (blue trend-line) and in green. Even last week's heavily bearish candle closed above the 1W MA50. Those are early signs that the former Resistance level which rejected the uptrend on August 15 (red circle), may be turning gradually into a Support. With the RSI within a Channel Up pattern, the current sequence bears similarities with the June - November 2020 fractal. As you see, that fractal also established the 1W MA50 as a Support (3 times), before making a Higher High on the trend-line and eventually breaking to a very aggressive 2021 rally to the All Time High. As a result, as long as Dow manages to close above the 1W MA50, we will be expecting a Higher High near the 0.786 Fibonacci extension (35000). A closing below it though, should target the lower Fibonacci levels successively. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:DJILong
by TradingShot
2
Cheerless, 23rd December 2022🖼 Daily Technical Picture 📈 ➤ Equity prices made no further headway. Instead, a large Bearish day threatened to add to a Cheerless Christmas. Price managed to recover some losses by end of trading day leaving things in the lurch. ➤ NASDAQ is performing miserably. It's almost back to the lows of the year. One shouldn't be surprised it is lagging so badly. Used to being valued with a zero % interest/discount rate the exact opposite narrative of higher borrowing costs for longer is now firmly entrenched. ➤ I currently hold +68% long exposure. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction. ➤ Conclusion: Belated Christmas Rally anyone?
AMEX:SPYLong
by mrstockyetoro
1
Inspired, 22nd December 2022🖼 Daily Technical Picture 📈 ➤ If yesterday's bounce was uninspiring, the Bulls were clearly inspired today. It's almost Christmas Cheer time after all. The VIX has collapsed back to the pink highlighted zone in the chart. Let's see if the Bulls can break below. It's been bound by this zone since the start of the year! ➤ I'm not looking for a big aggressive bounce. Although that would be a nice surprise. There has been a change of momentum in the rally since the Oct bottom. 390/3900 resistance looms large. The European indices are acting relatively stronger bouncing off the 50-day moving average. ➤ I currently hold +68% long exposure. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction. ➤ Conclusion: Back in the action. Rally time?
AMEX:SPYLong
by mrstockyetoro
Uninspiring, 21st December 2022🖼 Daily Technical Picture 📈 ➤ We saw the smallest of bounces in the S&P500. It was uninspiring. Still, an upward move has to start from somewhere. Today may be the day to risk some capital. ➤ Uninspiring too is the Poll I took about people's opinions on which group of market participants might do well next year. 45% voted for "Everyone is a Loser". The contrarian in me would suggest that gives hope for a decent positive performance for equity markets in 2023. ➤ I currently hold zero exposure. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction. ➤ Conclusion: Waiting on the sidelines for an imminent trading signal.
AMEX:SPY
by mrstockyetoro
Where are the Bulls? 20th December 2022🖼 Daily Technical Picture 📈 ➤ Equities continued their free-fall. It has now given back 50% of the gains as measured from the Oct bottom to Dec top. Price has reached a support zone. This is an ideal area for prices to rebound higher. ➤ Can you believe it? There are only 8 trading days left in the year. It's been such a tumultuous year that I can't even recall all the ups and downs. As a Trader, I can normally replay all my trades in my mind. With the roller coaster nature of the price movements, those trades have all been mashed up. That being said, I can't wait to see what surprises the market will throw at us next year. ➤ I currently hold zero exposure. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction. ➤ Conclusion: Waiting on the sidelines for an imminent trading signal.
AMEX:SPY
by mrstockyetoro
4
DOW JONES Similarities with Dotcom crash. 1M MA50 is the key.The Dow Jones Industrial Average (DJI) is trading on a red December candle, following the extreme rise since October that broke back above both the 1M MA50 (blue trend-line) and 1W MA50 (red trend-line). The 1M MA50 seems to be the key for the uptrend as (excluding the COVID crash), is the line that keeps the multi-year uptrend intact since 2011. However, the 1M RSI sequence displays a lot of similarities with the 2000 - 2002 Dotcom crash. As you see it also made a marginal break above the 1W MA50 after rebounding on the 1M MA50 but then corrected way more after it lost it (1M MA50) again. The red flag shows where potentially we could be at today. Notice that a similar -38.60% drop would hit or almost hit the Higher Highs trend-line since the 2000 Dotcom Bubble peak. As a result we consider the 1M MA50 as the key. A new break below it, practically confirms the extension of the 2022 correction for another year. Until that happens though, it is more likely to see the 13 year Bull Cycle continue, targeting 55k in the next 4 years. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:DJI
by TradingShot
1st Leg Down, 19th December 2022🖼 Daily Technical Picture 📈 ➤ A Change of Character "CHoCH" has occured in S&P500 uptrend since the Oct bottom. The drop since 13th Dec looks to be the largest in size. This changes the momentum of the Bulls. Either Bulls will take pause with some sideways movement prior to igniting another run higher or the Bears will now come out to play. I favour the Bearish scenario right now. ➤ Price has closed the 10th Nov price gap. There is an opportunity for price to rebound higher to relieve the recent selling. The resistance at 390/3900 would be an ideal stopping area for the next leg down if the Bearish scenario plays out. ➤ I currently hold zero exposure. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction. ➤ Conclusion: Waiting on the sidelines for an imminent trading signal.
AMEX:SPY
by mrstockyetoro