Dow Jones - DIA DJIBoy, are these markets something else. Since before 2008, markets correlated relatively close to economic data. Since the introduction of Fed intervention with slashed rates and Quantitative Easing, "markets" were able to "shrug" off even the worst geopolitical and economic events. In fact, it defies all logic.
Logically, markets can and should ignore all TA when an economy is hurting significantly. There isn't a bright spot in the economic data. The consumer is badly beaten and barely holding on. Discretionary spending, credit card debt, personal debt, consumer sentiment, and consumer confidence show us that the average American is at their limit for what they can spend and do. A new study showed that 1 in 4 Americans are skipping Thanksgiving Dinner altogether because of the costs. Keep in mind the collapsing retail, collapsing freight by sea, and now the threat of rail strikes in December which is quickly becoming a reality.
This of course is one of countless statistics that show the pain of average American. Other statistics show savings rates have plummeted and credit card debt is at record levels as people's pay-checks are no longer covering their expenditures.
We've about peaked in this market, looking at a double top from August 2022.. but again, TA doesn't matter as it did before. MACD and RSI have PLENTY of room on the downside. Look at the economic data, even the TA for the short term and position accordingly.
This chart can and will most likely reflect majority of stocks from S&P, Nasdaq, QQQ, SPY, IWM or Russell 2000.
SDOW
Things look ugly for $DJI but there's ray of light$DJI has seen a ton of SELL volume & in reality the environment doesn't seem conducive of any positives. Bu there are some.
Pluses:
Doji - Needs more confirmation tomorrow.
Oversold on daily & support is 32.5k
Major long term downtrend is around 31.1k
Inverse Head & Shoulder can still pan out as long as #DJI doesn't break below the last barrier.
Technically, it can go to MAJOR support in the 30k area. Yes, it's ugly but that is some hope for the bulls.
The other indices don't look as good.
DJI intraday sets up for DAILY movementsFrom yesterday
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11:34AM
1hr VOLUME SUCKED
BUT
That 1Hr Doji is a good sign & RSI positive divergence
4Hr looks ok, reversal but not strong enough
NEED more volume
More later after
#DJI $DJI #stocks
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12:21PM
$DJI Volume pumps up more & we close the 4Hour (around 130est) ABOVE 32793 = GREAT sign
(((FYI IT DID NOT DO IT)))
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4:05PM
It' been a 1k point battle for $DJI
Today we close with a DOJI
Again, this week IS IMPORTANT!
Flat day but 1st signs of buys
Time running out but still holding!
---------------
TODAY TODAY TODAY
$DJI bulls are fighting hard & not giving up here
30Min looks ok
Changed 20 EMA to 30 & painting lil better picture
1Hr reversed back to 20EMA
4Hr still not there, Needs to trade north of RED EMA
BEST if resolved TODAY
$NDX looks better than $DJI, but it's no slouchPls see profile for more info
We limit data
as it's copy paste
We're cautiously bull $DJI, bit more on $NDX
But there's reasons:
#ECONOMY = TRASH
Tons of good lost jobs
Unemployment low but most BAD jobs & multiple jobs
#DJI RSI negative divergence (slight weakening)
#NDX RSI looks good & many green candles
$DIA $QQQ #QQQ #Stocks
$DJI Inverse Head & Shoulder + Long term data on CrossoversThese are copy paste, pls see our profile
IF RIGHT Shoulder, $DJI Inverse Head & Shoulder pattern, holds = STRENGTH
1/2
#DJI RSI WEAKENING, Negative Divergence
Last 2 days good SELL volume
Some interesting Moving Avg Crossover data on next post
2/2
$DJI Bullish Moving Avg Crossovers TEND to last
There's been few times it didn't:
Late 99-Early 02
Mid 78-Early 80
June-July 60
July-Sept 56
Feb 47
July 47
Whipsawed 1948
Oct 40-Jan41
Sept 39-Nay 40
Aug 32-Nov 32
You get point
#stocks #DJI $DIA $NDX $SPX
$DJI still looks great - Inverse Head & Shoulder in play!Keep eye on intraday $DJI volume 2c how we're doing
So far NO anomalies showing trouble for this run
Great Inverse Head Shoulder pattern going
Monthly Averages DIDN'T crossover = VERY good
Barring something crazy, $DJIA may have enough for 1 - 2 year move
$UDOW $DIA #stocks
$DJI leading the pack & Bear close to be done🚨🚨🚨🚨🚨🚨🚨
Not sure how this was missed!😱
$DJI looks VERY VERY VERY good
Went FULL BULL late Sept/early Oct
Mid Nov went neutral to short term bear
Mid December turned cautious bull
NOW
GOOD signs that September was BOTTOM!
-
This is daily & weekly
Inverse head & shoulder pattern = 1 of the best bottom forming patterns
IF right shoulder forms here = HUGE
We've spoken on light blue box area many times
Weekly $DJIA still looks GREAT
-
BONUS
$DJI monthly almost gave up BUT HELD
Did trade below the avg's but fought back
NO Bearish moving avg crossover
$DJIA movement can buy more time
Maybe year or 2
RSI looks ok
$DIA $UDOW $SDOW #stocks
From "Hovercraft" to IHS pattern? WAY EARLY but interesting 2cDo you see it? $DJI
Is it easier to see on weekly?
The "Hovercraft" patter COULD be a precursor to an Inverted Head & Shoulder!
See it now?
IT'S WAAAY early & it doesn't mean it'll happen
$ETH had one recently & went kaput
Can $DJI #BEAR be ending? Time will tell
IMO chances are NOT for
BUT
As stated MANY TIMES #markets are NOT logical
What about $NDX $SPX & $RUT?
Short answers
no, bleh & actually looks like head & shoulder recently lol
$DJI forms Outside Week (DAY)Had no plan for trades 2day barring huge opportunity, which not seeing
BUT like $META action in "bear" market
Did say keep this in mind
BUT THIS IS NOT THREAD FOR @facebook
It's for $DJI and its cronies #DJIA $DIA $UDOW $SDOW
WE HAVE HUGE MOVE in place with more to follow
Being this is WEEKLY the paint = more important
31.7k is 50% retracement but IMO we're likely retesting 30k next year, just don't see bloodbath ending year
Another post which may or may not post here later
AFAIK no such thing as HOVER pattern🤣
Me having FUN
BUT
could be precursor to one! IHS patter is hint
Month DJI Data - DEC likely trade sideways > BONUSESThis is series of charts but can only show 1
1/2
ALWAYS👀@ volume
$DJI Late Apr/May heavy DOWN
Early OCT noticed shift
TURNED FULL BULL, DOCUMENTED
Recently, lower volume but NO heavy SELL
WHY?
BONUSES - #stocks likely to trade sideways till 2023 =
Lil down - lil up
$VIX $SDOW $UDOW $SPX $NDX $QQQ
2/2
$DJI hourly shows nice trend
4Hr shows weakness signs
$DIA ran a lot, expected
LARGEST RUNS tend 2b in BEAR MARKETS, FACT
-
Our position
SMALL short, down tiny amount
Some longs
Nice amount of $
Tons Treasuries few months @ 4.6%
Raised #crypto $ bit, nice run over weekend
#stocks
Monthly $DJI is a must seeGood morning lovely ppl
Maintaining trailer $SDOW #DowJones short position
May add more if we pop enough
Initiated $VIX long position
There's various ways; options $VIXY $UVXY & more
3 warnings signs, see previous posts
Ignore RSI if it shows on post
Let's see how Nov ends $DJI $DIA #stocks
🚨🚨🚨 3rd WARNING/ALERT $DJI 🚨🚨🚨🚨🚨🚨🚨3rd WARNING/ALERT 🚨🚨🚨🚨
$DJI threw:
Hanging Man on Friday - Bearish
Shooting Star on Monday - Bearish
Tuesday = Outside Reversal - In this case it seems mostly Bearish
$VIX is also starting to wake up and beginning to make noise
#stocks #INDU #DowJones $DIA $SDOW $UDOW
VIX very close to target, SPX rally coming to close soon?🚨🚨🚨$INDU🚨🚨🚨
We gap open & sell off with volume, party OVER for $DJI
(shorting if we gap up)
Serious RSI negative divergence
This happens $VIX fills gap & reverses
This means $SPX gets close enough to down trend
#stocks time for lil cool down, till December?
VIX closing on target. DJI in trouble? SPX lil more steam?🚨🚨🚨$INDU🚨🚨🚨
We gap open & sell off with volume, party OVER for $DJI
(shorting if we gap up)
Serious RSI negative divergence
This happens $VIX fills gap & reverses
This means $SPX gets close enough to down trend
#stocks time for lil cool down, till December?