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Dow Jones Index (US30): Key Levels to Watch This Week 📈 Hey traders, Here is my latest analysis for Dow Jones Index: Resistance 1: 32320 - 32460 area Resistance 2: 32770 - 32910 area Resistance 3: 33250 - 33470 area Support 1: 31390 - 31700 area Support 2: 29675 - 30380 area Consider these structures for pullback/breakout trading. The price is approaching a Support 1 at the moment. Being quite oversold, the index may retrace from that. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
ULong
by VasilyTrader
4
It's a dip, not a drop (says ATR) Price and range typically move in opposite directions (you will pay more for a less volatile asset). The bottom chart (Average True Range) looks like a mirror image of the top (Price). For a perfect example I'm appending the same chat but have scrolled back to the COVID drop. The ATR is in a larger downtrend that remains intact. ** It did not break out today. ** Until that changes, a price reversal remains a distinct possibility.. This is not a prediction. It's a reminder not to assume anything . NOTE **Chart shows the combined 3 index. They are weighted so that a 1 point change will imply the same change in $ terms. (For weights see www.barchart.com When price and ATR jive:
CME_MINI:ES1!
by gb50k
46
Dow Jones Index (US30): Important Update For Next Week 📈 Have you seen that bearish move on Friday? The market closed, testing a lower boundary of a key support on a daily. If the price breaks and closes below that on a daily next week, I will expect a strong bearish continuation. Next goals will be 12200 / 11700 I will post an update once I spot a confirmed breakout! ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
CAPITALCOM:US100Short
by VasilyTrader
11
Where are you now? The mean of volatility adjusted indexes.The summary: Stocks fell ("Faded"?) out of the main upward channel. Bulls can hang there hats on the ATR that has not confirmed a reversal. Chart shows the mean of 3 US stock indexes divided by their respective volatility index: SPX / VIX , NDQ / VXN , DJA / VXD. This is one approach to putting all 3 on a single scale and is conceptually similar to Z-score, Sharpe ration and Normalization, to name a few** Getting all 3 on the same scale is useful for both comparison and, as in the present chart, aggregation. (SPX appears above on top for reference.) Summary: Last session "stocks" fell out of the main upward channel. They have also fallen bellow the long term median (red dots). However, there are bullish features as well: ATR indicator: Typically inverse stocks Were *not* seeing the same "break out" (added Regression channel +/-2STD) It is not yet in free fall and there's plenty of structure to the left for support and pullbacks. Notes: ** There are issues with taking the mean of any of these statistics. For example two Zscores of 0 and 3. It's true that their mean is 1.5 but there are very few valid conclusions one can draw from that outcome. It will have a "smoothing" effect (mean reversion) which is not entirely undesirable for our purposes.
SP:SPX
by gb50k
Dow Jones Index (US30): Key Levels to Watch Next Week 📈 Hey traders, US30 nicely reacted to a key horizontal resistance that we spotted last week. I believe that the index may keep falling at least to 33275 - 33487 support next week. The reaction of the price to that green structure will clarify the future direction of the market. I will keep monitoring the price action and will post an update once I see a decent setup to trade. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
UShort
by VasilyTrader
7
Dow Jones (US30): 2 Important Structures to Watch Hey traders, As I predicted, US30 bounced nicely. To catch the next pullback watch 2 peculiar structure: Resistance 1: 34000 - 34130 area Resistance 2: 35200 - 35550 area Wait for a test of one of these structures and then look for a confirmation to sell. I will post an update once I spot a decent setup! ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
UShort
by VasilyTrader
6
DJIA showing technical strengthThe Dow is at a technical resistance level with a strong support level beneath the most recent run. When technical lines are very precise, it means most of the trading is technical, from short-term professional traders or longer-term fundamentalists with technical backgrounds. When the smart money is trading, it tends to make the trend more sustainable. At any time, this and the other major indexes may shift into a sideways trend for a while. Minor corrections are normal and necessary to sustain an overall uptrend. But the run out of the bottom has been solid.
DJ:DJI
by MarthaStokesCMT-TechniTrader
S&P500 Index (SPY) Key Level Ahead! Your Plan: 📈 S&P500 is approaching a key daily structure resistance. To catch a bearish move from that watch a rising wedge pattern on 4H. Your trigger to short will be a bearish breakout of its support (4H candle close below), then the price will most likely drop at least to 4250 level. Alternatively, a bullish breakout of the underlined yellow area will trigger a bullish continuation. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
FX:SPX500Short
by VasilyTrader
5
Dow Jones (US30): Technical Outlook For Next Week Very important thing happened with US30 index on Friday: the price broke and closed above a key daily structure resistance. The broken structure turned into a key support now. This week, I will expect a bullish continuation. The next goal for buyers is 33250 - 33500 resistance. Analyzing the intraday perspective, I spotted a rising parallel channel. I assume that the market will keep growing within. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
ULong
by VasilyTrader
4
S&P500 Index (SPY) Time to Grow 📈 This morning on a live stream with my students, we spotted a nice trading setup on S&P500 index: the market broke and closed above a key daily level. Retesting that structure, the price formed a double bottom formation on that. The price has just broken its neckline. I expect a bullish continuation now. Initial target - 4256 ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
FX:SPX500Long
by VasilyTrader
5
S&P500 Index: Key Levels to Watch Next Week 📈 Hey traders, As I predicted, SPY nicely bounced on Friday. Now the price is heading towards the next daily resistance. Here are the key levels for you to watch next week: Resistance 1: 4290 - 4400 area. Resistance 2: 4500 - 4515 area. Resistance 3: 4609 - 4639 area. Support 1: 4150 - 4200 area. Support 2: 4075 - 4100 area. Support 3: 3900 - 3940 area. Consider these structure for pullback/breakout trading. Good luck next week! ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
FX:SPX500Short
by VasilyTrader
8
S&P500 Index (SPY) Your Trading Plan For This Week 📈 S&P500 index is currently trading on a key daily structure resistance. On focus is a rising parallel channel on 4H. If the price breaks and closes below its support, chances will be high to see a bearish trend continuation. Initial target will be 4080 level. Alternatively, bullish breakout of the underlined yellow area will push the market higher. Next resistance will be 4290. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
FX:SPX500Short
by VasilyTrader
8
SPY in a downtrend? Where's Top? THE ANSWERS!Chart: SPY 2 week TF. The answers are both in the chart and below. SPOILER: If SPY rallies to $800, the downtrend is still valid. Interesting: A downtrend is defined as LOWER lows (LL) and LOWER highs (LH). Uptrend? as HL's and HH's. ** A single HIGHER high (HH) invalidates a downtrend trend in that TF. Trend is relative to TF and can be valid in one TF but invalid in another. A HH is established when the previous HH is superseded by a new candle's _____________ (fill in the blank). Answer: It's the new candles **close** that takes out a previous high, **not** its own high. Once that condition has been met the new High is promoted to the status of HH. Important: SPY's 1 week down trend was invalidated when the HH of $393.16 established on the 28th of June, 2022 was taken out by the close of $395.09 on Friday, July 18th, 2022. Chart: 2 week downtrend is still valid and the current 2W candle closes in 5 days. (8/12/22) The trend remains valid if that close is below the previous HH of $417.44 established on June 2nd 2022. Very important: *** The high of (this) week is not relevant to the 2W downtrend. Only the candle Close on Friday (8/12/22). Implication (not opinion): If SPY rallies to $420, the downtrend is still valid. If SPY rallies to $500, the downtrend is still valid. If SPY rallies to $600, the downtrend is still valid. If SPY rallies to $800, the downtrend is still valid. ... *as long as* price falls back to $417.44 by EOW. The point: ... idk. Ask me in 2 weeks. Where is "top"?: It's the price where the last bear goes long (aka covers). In other words when there is not a single buyer left. ** Starting with Homma Munehisa, (1755) The Fountain of Gold—The Three Monkey Record of Money. to the more contemporary: Al Brooks, (2009) "Trading Price Action Trends" .. and everyone in between.
AMEX:SPY
by gb50k
1