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DOW JONES Signs of the Great Depression?This is a DJI comparison of the Great Depression and the phase that preceded it against the current COVID sell-off and the phase since the DotCom bubble that led to it. ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** As you see both time phases are Megaphone patterns. Both started on high volatility (A,B,C,D) while the Megaphone was emerging and after testing the Higher High trend line for the longest time of the phase (E), the price broke above it making an over-extension (F). This is usually where most retail and other dumb money are trapped during recessions. What followed (F) during the Great Depression was of course a complete and lengthy collapse of the system, the worst recession in history. Also look how harmonically the 1M MA100 is moving on both patterns. Will history repeat itself? I want to know your opinion about it. *For the record the purpose of this comparison is not to spread panic, I will leave it to the mainstream media to do so. But it is so intriguing that I think can make a great discussion in the comment section below! So will it fill the gap?
TVC:DJI
by TradingShot
52
Dow Jones - Buy NowYes Dow Jone is in good for buy. Its already crossed the 0.786 fibo level and whenever price moving from down to upward in RSI and crossed the 64.34 (Blue horizontal line) its keep continue the bullish movement. @ 26994 (this price can be change according to the broker) TP 1 - 27120 TP 2 - 27135 TP 3 - 27150 SL - 26837 Note: Trade at your own risk high volatility and use money management. Join with us for free signals Telegram - t.me Facebook - www.facebook.com Twitter - twitter.com Website - www.forexcaction.com
OANDA:US30USDLong
by Forexcation-Investing-lk
DOW JONES 50% correction or a new norm?The question on everyone's mind is that: "Are stocks overvalued right now or not?", "Is a major crash coming or we've seen the bottom and we're going for new all time highs?". This is a hard question to ask. I try to approach this matter using the Great Depression as my basis point. Using the Pitchfork tool on the Great Depression, four very distinct ranges are presented. The top two I call the Bubble Band and the Bullish Band. The lower two, the Bearish Band and the Recession Band. We see that since the Great Depression, DJI traded within the lower bands for almost 60 years after a convincing break-out took place in 1994/95 that paved the way to the tech bubble. This rally aggressively moved Dow Jones from the Bullish Band almost to the middle of the Bubble Band. Naturally the price levels were too unstable and crashed. The Dot-Com crash was not strong enough to break below the Bullish Band but the Subprime Mortgage bubble was. However trading inside the Bearish Band was short-lived and after a bottom was formed the index quickly recovered and traded inside the Bullish Band on a moderate rally for 8 years. Until only recently (2018) when it again entered marginally the Bubble Band and we've already seen the high volatility effect of this overvalued level. So what happens next? Either an approximately -50% correction like the last two times the index broke the Bullish Band (Dot-com, Subprimes) or a rather hard to grasp scenario for the extremists: The index will continue rising within the Bullish and Bubble Bands until it consolidates, making trading within the upper bands the new norm just like the 60 years that followed since the Great Depression where the price traded inside the lower bands. No opinion can be right or wrong here. I welcome every "voice" in the comments section!
DJ:DJI
by TradingShot