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Transports Break SupportTransportation stocks have been unusually strong this year, but that might have changed yesterday. The main feature on this chart of the Dow Jones Transportation Average is the September low at 13,947. Prices managed to remain above this level throughout the market’s correction as other indexes like the S&P 500 and Nadaq-100 knifed below the same respective points on their charts. DJT lost that distinction yesterday as it suffered its biggest drop in almost two years. Second, the index broke out above its 50- and 200-day simple moving averages (SMAs) in mid-March as the broader market rebounded. But then it reversed and made lower highs at both SMAs in April and May. Third, that price action dragged the 50-day SMA below the 200-day, resulting in a potentially bearish “death cross.” Given the importance of “Dow Theory,” which uses Transports to judge moves in the broader market, yesterday’s price action could have bigger implications for sentiment. Traders may now view it as confirmation of a bearish trend. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
DJ:DJT
by TradeStation
ETHUSDT GANN RESISTANCE HI,,,,, Today I will show you my analyze about the next resistance that eth will have,,,, eth now is having a good resistance at 3039.76 but till now eth did not break it so we hope eth could break it with volume and daily close above it after this resistance we will have a cluster Gann angle + fib extension at 3113.1 to 3187 NOTE: after 1 good day close above 3193.84 we will be in a bullish Secondary trend by DOW theory (Positive) after this price levels if we have a good bullish candles with volume we might go to 3491 to 3496 and we have a small correction and break it up and start a very good bull year market *** in my opinion bull market is coming soon because a lot of coins are starting to break a very important Gann resistances even BTC has started to break his Gann resistance but I hope that these coins can do daily close above these resistance because few of them closed above there resistance BTC till now is not of them *** if you have any opinion pleases share it in the comments below if you like my analyze please give me a like and follow for more of Gann analysis Have a nice day :)))
Long
by hazem44
LCID: This pattern might REVERSE the trend for good!Hello traders and investors! Let’s see how LCID is doing today! In the 1h chart, we see a clear bear trend, and LCID is trading below its 21 ema. However, there’s hope for it. The most important key point is the red line at $ 29.05. This point is the trigger of a Double Bottom chart pattern (Adam & Eve type). The technical target for this pattern is the next resistance, which is at $ 47.59 (black line). It is interesting to notice that in the 1h chart LCID is already doing higher highs/lows, and if it keeps doing this, eventually, it’ll reverse the trend in the mid-term. It has an open gap to fill (earnings gap), and this might help the bullish thesis on LCID, at least for a while. Another thing that is important to pay attention is the volume, as it must increase as it goes up. Remember: The volume must confirm the trend (Dow Theory). For now, let’s pay attention to the $ 29.05, as this is the most important key point for us now. Remember to follow me to keep in touch with my daily updates.
NASDAQ:LCID
by Nathan_The_Finance_Hydra
5
Does Anyone Remember Charles Dow?Something interesting happened with the Dow Jones Transportation Average recently. Or, more precisely, didn’t happen. The S&P 500, Nasdaq-100 and Dow Jones Industrial Average all breached their October lows amid this year’s pullbacks. But Transports haven’t even come close to those levels. Notice how DJT bottomed last week over 14,000. That was 1 percent above its trough near the end of the third quarter and start of the fourth quarter. Turn back the clock a little further to the late 1800s, when Charles Dow famously noticed that railroads and shipping stocks could confirm moves in the broader market. In the current case, “Dow Theory” may be providing non-confirmation of weakness . And that could be bullish. Second, consider the converging trendlines as DJT eased lower. Is that a falling wedge, another potentially bullish reversal pattern? Finally, you have the bigger picture because Transports are a classically cyclical part of the market that often benefit from a strong economy . With Covid cases falling, the U.S. reopening and the spring/summer approaching, investors may view Transports as a potential beneficiary. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradingView is not affiliated with TradeStation Securities Inc. or its affiliates. TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
DJ:DJT
by TradeStation
2
SPX: Buy amid panic? Let's see...Hello traders and investors! Let’s see how the SPX is doing today! First, in the 1h chart, it lost the support level we mentioned yesterday, however, it seems it just dropped to its next support, and now we see a very good reaction. In the 1h chart, the index filled the previous gap, making it an Exhaustion Gap, and it is triggering a pivot point as well. These are signs of bullish reversal, but the situation is still very dangerous. The index is still under its 21 ema, and it seems it needs more bullish structures to confirm a true short/mid-term reversal. If this happens, the gap at 4,472 would be its next target. When we look at the daily chart, we see a powerful candlestick today, closing above the last two support levels, and this is another bullish sign. The volume is starting to increase again too, and this is important. Remember, the volume must confirm the trend (Dow Theory 5th tenet). Since I always had this contrarian style, when I see movements like this, or when I see people panicking, usually I find the best opportunities around. As Nathan Rothschild once said: "But when there’s blood in the streets". Use the emotional traders and investors in your favor. However, we must do this calmly, with caution, and using a proven methodology. Personally, I see many amazing opportunities right now. I’ll keep you guys updated every day on this, so, remember to follow me to keep in touch with my daily updates.
SP:SPX
by Nathan_The_Finance_Hydra
2
S&P 500 Reclaims the Trend LineThe S&P 500 broke a 10-month uptrend about seven weeks ago. Now it may be trying to reclaim that line. This chart updates some patterns from our September 24 idea . The rising wedge pattern was bearish at the time – not a surprise given fears about inflation, the delta variant and a tapering Fed. But those forces have played out and investors are more focused on strong earnings and the improving economy. Speaking of the economy, a key sector that tracks the business cycle just broke out: Transports . The Avis Budget short squeeze may have triggered the last surge, but other parts of the index like railroads and truckers were already rallying. This provides potential “Dow Theory” confirmation to the broader market’s new highs. Returning to SPX, another interesting chart pattern is the price action in late October. Notice how quickly pullbacks were bought on October 22 and 27. These bounces also occurred near the September peaks, which suggests old resistance became new support. Finally, consider VIX’s close at 15.09 yesterday – its third lowest close since coronavirus slammed the market in late February 2020. Also notice its lower high and quick rejection around 17 this week. This key metric refused to “return to normal” during the entire pandemic. But now that the Fed is tapering, it may be time for the fear index to get less fearful. If that does happen, it could instill more confidence and spur more risk taking. So while the market has run a lot and bounced sharply, there may still be reasons to think the move will continue. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
SP:SPX
by TradeStation
PLTR: Just filled a gap! What's next?Hello traders and investors! Let’s see how PLTR is doing today! We had a Red Monday yesterday, and PLTR crashed along with the rest of the market. Now, what’s for us here? First, let’s keep in mind that PLTR just filled its gap at $ 23.19, and now we have the beginning of a bullish reaction. This candlestick pattern could be a Harami, which is not the best reversal pattern, I agree, but since it is near such a good support level, the odds of a reversal increases dramatically. In addition, PLTR has been dropping since Sep 24, but the volume was below the average. This is another sign that PLTR has been dropping just because it has been following the market. We still don’t see any meaningful bearish structure that could sustain this drop for too long. In fact, there’s a good chance that we just hit the bottom for now. What we must see is a clearer bullish structure in the 1h chart: If PLTR closes above the previous support level at $ 23.67, it’ll be a good sign, but what we really must see is a bullish structure. So far, PLTR has been doing lower highs/lows, and as Dow would say: Trends persist until a clear reversal occurs. This week is going to be decisive on PLTR, and if you liked this analysis, remember to follow me to keep in touch with my daily updates. Have a good day!
P
by Nathan_The_Finance_Hydra
5