DOW is suffering, unable to break the 33200 levelsLike I said in my last analysis on DOW, it might face resistance at 33200 level.
So, I'm taking a Neutral stance and smart money can be seen at Current market 33200 Straddle.
Dowjonesindustrial
Correlation Between $BTC & DJIBased on 1W TF, There seems to be a good correlation between DJI chart (Mar'09-Mar'20) and BTC (Mar'20-today). Based on fibonacci retracement, We can see that after DJI had reached 1.6 retracement marked with a double top pattern, a correction to 1 retracement took place. Interestingly, these things are also seem in $BTC, as $BTC reached 1.6 retracement marked with a double top pattern, a correction to 0.786 retracement still taking place. Therefore, I guess if $BTC can rally up to 35k-37k resistance zone, I'll prefer to wait and see whether the next correction will make a higher low pattern or 200 weekly MA will touch the next low.
This posting is purely an idea sharing, not a financial advise
DOW might struggle before big UptrendDOW faces a huge resistance at current levels 33200, if it is able to surpass it on Monday on Upside, then strong Upward momentum can take it upto Big sellzone between 33800 & 34100 which is a very strong Resistance on Daily/Weekly timeframes.If Dow can surpass this sell zone with Good Volumes, then Dow can finally move into Uptrend and next stop would be 35300 levels.
On flipside, i.e. on Downside it can quickly test 32500 lvls again before moving higher again.
DJI down 17% to 30636 VWAP fr Covid low; will 20% @29570 be nextDJI retraced already 17% from 36952 ATH to a low of 30636, now at 32120. This completed a 1:1 abc corrective wave. 30636 is also the black VWAP from pandemic low. This may be the bottom if 30636 holds.
If it does not hold, DJI may retrace 20 % (bear market boundary) to 29570 pivot which is also the pre-pandemic top. This will be near the 0.382 FIB retracement level from pandemic low of 18213 to ATH of 36952. This will also be a retracement back to the base of my slanted FIB CHANNEL.
If yields continue to rise, value stocks will outperform growth & tech stocks.
Not trading advice
DOW 30: STILL BEARISH?Currently trading @ 31773
The Dow has been in a bearish trend for 8 weeks now and we still expect it
to continue its bearish trend.
Currently approaching the edge of the descending channel
We expect it to reject a potential break-out and it to continue to the downside.
Long-term we expect Dow to reach August to November 2020 support levels @ 29200
before some short term retracement to the upside in the month of June.
Short term key entries(Bearish)
Sells
Sell limit
@ 32,000
Sell Stop
@ 31,600
@ 31,300
Long term key entries(Bullish)
Note: on 1D & 1W chart Dow 30 is showing signs of turning bullish
Buys
Buy limit
@ 29,300
@ 30,200
Buy Stop
@ 32,700
Note: this is just an analysis based on technical analysis & current events. All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
DJI Death Sentence!The Dow is looking bearish AF!!! if we close below the 21 EMA on the monthly chart our next downside target will be between 21k and 23k.
NAS100 setting up like its 2007NAs100 hits 1.618 Fib perfectly , this could be the local bottom for now but setting up for a much bigger fall later on.
The bar pattern from 2007/2008 crash is looking very similar right now and we could be setting up for a much larger move down . I have overlayed the bar pattern from the drop in 2008 , a 50% drop would hit the 0.618.
It's Not Looking Good For The Dow!This is going to be the worst and best time in the history of the stock and crypto markets. Life changing moves are happening! Don't miss this drop!
Price targets if we continue the down trend:
28692.08
23531.31
Dead Zone Targets:
18152.33
16232.57
Dow Jones: Move Yourself!Move yourself!
You always live your life,
Never thinking of the future.
Prove yourself!
You are the move you make,
Take your chances, win or loser.
See yourself!
You are the steps you take,
You and you, and that's the only way.
Shake, shake yourself!
You're every move you make,
So the story goes…
Dow Jones should listen closely to “Owner of a Lonely Heart” by Yes as the text of the first stanza is indeed in accordance with what we would encourage the index to do. After it has been given the brush-off by the resistance at 34038 points, Dow Jones has retreated deeply into the green zone between 33724 and 32519 points, even touching the white zone between 32389 and 32241 points below it to finish wave (C) in white. Now, the index should brace up and move upwards, striding across the green zone and climbing above the resistance at 34038 points. However, there is a 45% chance that Dow Jones could fail to pick itself up and could drop below the support at 32167 instead.
Dow Jones Index (US30): Important Decision Ahead 📈
Hey traders,
US30 is testing a major weekly demand cluster again.
For those who want to catch a bearish continuation,
I would suggest waiting for a breakout of the underlined blue area to the downside.
If we see a daily candle close below that, the market may drop to 30.000 support.
Be prepared!
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
Dow can drop another 10%Like all stock indices, also Dow is not "feeling well", with the index starting the year badly and now trading again near support.
The recovery attempt started in March failed hard in the 35k zone and the selling power become very clear 2 weeks ago with a red candle that engulfs one month of trading.
As I said, Dow is trading near support now and I expect a breakdown
My target for this index is the 30k zone.
Sell rallies is, in my opinion, a very good strategy and I will be bullish only if the price pass above 35k
Dow Jones Index (US30): Bearish Outlook For Next Week 📈
Hey traders,
As you remember, one week ago Dow Jones broke a horizontal trading range to the downside.
Its first retest made the market drop to 33100.
Then we got 1 more retest and this time the index dropped even lower reaching 32900 level.
I assume that next week we may expect a bearish continuation in such a manner.
The next goal for sellers is 32200 - 32450 demand cluster.
Good luck!
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
US30 ShortHey traders, in the coming week we are monitoring US30 for a selling opportunity around 33150 zone, once we will receive any bearish confirmation the trade will be executed.
Trade safe, Joe.
US30 ShortHey traders, in today's trading session we are monitoring US30 for a selling opportunity around 34100 zone, once we will receive any bearish confirmation the trade will be executed.
Trade safe, Joe.
Dow Jones (DJI): $35,500 or $31,500These are the two targets going forward as we watch to see if it breaks up or down.
Targets are $35,500 after a breakout and $31,500 after a breakdown.
Here are the levels for reference:
Dow Jones: EnsnaredRemember the Devil’s Snare in “Harry Potter”? It is one of the obstacles Harry, Ron and Hermione have to overcome to get to the Philosopher’s Stone. Quite similarly, Dow Jones is ensnared by the green zone between 33790 and 32534 points, which it has entered already for the second time. We expect it to advance a bit deeper still to finish wave (5) in white, wave c in turquoise and wave 2 in green. After it has managed this task, the index should rise out of the green zone and above the mark at 34038 points. There, it should gain enough upwards momentum to cross the resistance at 35413 points as well. To confirm this scenario, though, Dow Jones must not fall through the bottom of the green zone and drop below the support at 32167. However, there is a 40% chance that this alternative scenario could come into play.
US30 LongHey traders, in today's trading session we are monitoring US30 for a buying opportunity around 33700 zone, once we will receive any bullish confirmation the trade will be executed.
Trade safe, Joe.
Dow Jones (DJI) Logarithmic Macro Outlook Log target: 48k
The dotted red line is adjusted for inflation. The stock market cycles are lengthening. Continued downside till EOM followed by a final melt-up rally that will bring the end of grand wave 5.
ETA: Q1 '23.
US30Hey traders, in today's trading session we are monitoring US30 for a selling opportunity around 35500 zone, once we will receive any bearish confirmation the trade will be executed.
Trade safe, Joe.
