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Dow Jones Reversal Pattern?We have yet to see TWO consecutive green days on the Dow for quite some time...will be finally get that? We have the monetary side with the Fed now buying up assets with unlimited funds. The fiscal side is next with a relief package to be passed in congress. We had a record over 2000 point gain day today. From here, we are approaching a very crucial zone. We are looking at the 21000 zone here as it is the last lower high swing. According to market theory, as long as we are under this lower high swing, we are in a down trend. Ideally, would like to see 21000 tested, a pullback, and then a break out. This would give us our first higher low swing to work with AND create the quintessential reversal patter, the head and shoulders.
OANDA:US30USD
by Uncharted-FX
Comex Gold - Selling The Tops at 1705 $-Case of Ending DiagonalDisclaimer ----------------------------- All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Happy to get the clue straight from the yellow metal & to see it unfolding as expected on 7th March 2020 video idea which was published on Indian Version - Nifty / Gold / USDINR - The important Juncture. Video Idea (Click the Idea Below) ------------------------------ Long Term Outlook ------------------------------- A possible case of Ending Diagonal which suggest that the rally which started from 1045$ to 1705$ has completed & we look for downside Targets - 1045$ / 900$ / 750$ Short Term Outlook Wait for some bounce above 1500$ in the zone 1590 - 1625$ zone - If you see the commodity getting rejected in the suggested zone then putting stops above 1635$ could be an opportunity for selling the commodity for Targets - 1500$ / 1445$ Thanks for watching the video & stay classy till next idea.
COMEX:GC1!Short
by WaveTalks
12
SPY Market Bottom? BUYING OPPORTUNITY!Hey there, please support this idea with your likes and follow me here on TV! Just as a quick update on Stocks. We are shortterm quite oversold on many indicators with longer term still more potential for further downside. SPY and many other stocks like TSLA are today on 9 BUY of the TI Indicator sequential! This is double 9 which means we already had a 9 and are now on a second. Strong buy signal for short to intermediate term trades. Cheers, Konrad
AMEX:SPYLong
by EnlightenedTrading
7
What does a market reaction to the Fed's decision say?Since yesterday, by and large, was the first full day of working out the Fed’s emergency decision to lower the rate by 0.5%, today some results can be summed up. And they are generally disappointing for optimists. In theory, stock markets should have perked up and provoked a sharp increase in stock indices. But this did not happen, that is, there was growth, but not at the scale that could be expected. In theory, the pressure on the dollar should have intensified. But yesterday, the Dollar Index rose. In theory, the Fear Index was to drop significantly. But according to the results of yesterday, the decrease was insignificant. What are all these signals talking about? The magic of Central banks no longer works the way it used to. Lower rates no longer automatically resolve existing problems. And this is a very alarming signal for stock market buyers, gold sellers, and other optimists. It seems that the bubble is nevertheless broken and the air, despite all the efforts of its creators, is gradually coming out. In general, monetary policy has exhausted itself and this is an extremely alarming signal: if the situation worsens, it will not be possible to resolve the situation with the usual methods. The consequences of the coronavirus have not even begun to appear, and Nasdaq is quoted 10% below the maximum and, it seems, can no longer grow with the certainty with which it was literally a couple of weeks ago. So in everything that happens, we see the strongest confirmation of our basic investment ideas: sales on world stock markets, and especially on the US stock market; gold purchases and sales of risky assets (such as the Russian ruble). But back to the events of yesterday, which was very full of news. The Bank of Canada lowered the rate immediately by 0.5%. The Canadian dollar obediently worked this out, losing about 100 points paired with the dollar. But in general, the reaction was relatively calm at such a massive reduction in rates. US employment data from ADP turned out to be quite good: +183K with a forecast of +170K. What sets in a positive mood against the dollar ahead of Friday's official statistics. The ISM Index in the non-productive sphere also pleasantly surprised: 57.3 points with a forecast of 54.8 points. But the Eurozone indices traditionally fell short of expectations and for the most part, came out worse than forecasts. Well, the results of super-Tuesday played into the hands of the dollar, on which Biden won quite unexpectedly, who is considered a more adequate option from the Democrats as opposed to the “left” Sanders. In general, our desire to sell a pair of EURUSD intensified up to the recommendation to sell the pair from the current ones with the addition of any attempt to grow. Oil stocks in the United States have grown quite slightly, but all the attention of oil market participants has been riveted to the OPEC meeting and OPEC+ decisions. It is very likely that today some specific information will appear that could provoke strong movements in the oil market. If OPEC+ decides on additional reductions (ideally about 1 million b/d), oil has a chance of growth. The main stumbling block is Russia and its unwillingness to scale up the reduction.
by Trade24Fx
Dow Jones: The importance of the 1W MA200. Bull Cycle intact.This is a long term approach on DJI after the price hit the Higher Low trend line of the 1W Channel Up (RSI = 44.081, MACD = 142.400, ADX = 38.014) following the worst weekly sell-off since the Subprime Crisis. The 1W RSI also just hit the 34.000 level which is a Support since 2016 and last time it visited that level was on the previous Higher Low of the Channel Up in December 2018 (bottom of the U.S. - China trade war tensions). On such a long term analysis, we want to emphasize the importance of a key marker that is behind this +10year Bull Cycle and how it is keeping the bullish sentiment on stocks alive. That is the MA200 on the 1W chart. During the 2008 mortgage crisis, the 1W MA200 acted as a Resistance. It first broked convincingly in October 2010 and was immediately tested (and successfully held) as a Support. That was unofficially the start of the new Bull Cycle on Dow Jones, as since then the 1W MA200 has held as a Support on four occasions after sharp market sell-offs (Aug 2015 China's slowdown, Feb 2016 Oil decline, Dec 2018 trade war etc), keeping the multi year uptrend alive. Last week the index came close again to the 1W MA200, which successfully held. As long as 1W candles close above this trend line, the multi year Bull Cycle will continue and every pull back is a long term buy opportunity. In fact based on the current 1W Channel Up, Dow's next Higher High target is 32,000. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:DJILong
by InvestingScope
4
S&P 500 and Recession?Though it seems like we're currently in correction wave A and would like to stay neutral short to mid-term until confirmed wave 1 appears, the gap and bearish engulfing candle make it seem like the slide will continue earlier than expected within Q1 -- or maybe it will suddenly "recover" fast by next week, depends on the whales tbh, but lemme know your thoughts down the comments below. Anyway just sharing an interesting pattern in S&P 500 coinciding with the major downturns in the market and recessions in the past, and might interest those who want to "time" the markets. As mentioned in my trading blog, ceteris paribus, overall I'm bearish in the markets in the next decade or so considering the stagnant growth of world economies. The only thing that can push that up is if we're finally able to start mining in space and utilize AI technology while "smoothly" transitioning displaced human workers into more relevant roles. Guideline: SELL - divergence in RSI and chart on -61.8 fib or higher (-61.8 becomes new 0 fib) and RSI above 70 for sell - sell up to around 0 fib of prior period and RSI below 30 (then soft buy-soft sell) OR - sell up to near -61.8 of current period (if there is prior bearish period & fib) or -100 of current period (if bearish reversal) SOFT BUY - RSI below 30 - price below -38.2 fib of prior period - buy up to near -61.8 of current period SOFT SELL - 2nd RSI above 70 - price above -38.2 fib of current period (if prior fib is also bullish) or near -100 fib - sell up to near 0 fib of current period BUY - divergence in RSI and chart on 0 (-61.8 fib or higher of prior bullish period) and RSI below 30 for buy - buy up to around -100 fib of prior period and RSI above 70 (then soft sell-soft buyl) OR - buy up to near -61.8 of current period (if there is prior bullish period & fib) or -100 of current period (if bullish reversal) SOFT SELL - RSI above 70 - price below -38.2 fib of current period - sell up to near -61.8 of prior period SOFT BUY - 2nd RSI below 30 - price at 0 fib of current period - sell above -38.2 fib of current period Rules: 1. For reversals, plot fibonacci either from prior period -100 or -61.8 fib level (depending on where price is nearest) down to prior period 0 fibonacci level 2. If price continues to trend up or down, way past the -100 fibonacci level, plot that as new 0 fibonacci level and add a hype icon (champagne glass or caution) 3. RSI is set at 10-70-30 on the weekly chart only
SP:SPX
by aiza_belle
Nasdaq/SP500 spread: one more the bubble signalWe have repeatedly written about various signals that testify in favor of the presence of a huge bubble in the US stock market: this is a rise in market prices, divorced from the economy, which manifests itself in the historical highs of the "favorite Buffett indicator", these are the values of the basic investment multiples in the zones exorbitant overvaluation, this is the dynamics of CAPE Schiller and much more. Today we’ll talk about another interesting and significant metric. It's about the Nasdaq/SP500 spread. In fact, we are talking about the difference in the growth rate of the Nasdaq and SP500. Since these are indices of the same stock market (USA), in a theory they should change more or less synchronously. But the experience of the dot-com bubble has shown that there are times when one index begins to overtake another. For example, in the case of the dotcom bubble, the spread between the indices was 200%, that is, the high-tech sector grew 2 times faster than the US stock market as a whole. How it all ended, we think everyone knows. Just in case, recall that the Nasdaq index then lost about 80%. The dotcom bubble is considered a classic illustration of market insanity. What is the situation now? Currently, the spread between the Nasdaq and the SP500 is 500%! That is, we have a situation that, in terms of the scale of madness, exceeds that which was on the eve of the collapse of the dot-com bubble 2.5 times! The historical analogy is obvious: the current bubble has long been in the terminal stage and should burst. Whether this will happen here and now, or will it begin after some time - the question is still open. But the presence of the largest bubble in the history of the US stock market can be ascertained here and now. Recall that we consider 2019 the last year of unjustified growth in the US stock market. Already in 2020, it will begin to adjust. The scale of correction is from 50% and higher. Considering that in recent years, shares of technology companies in the US stock market have grown on average 7-8 times (and some issuers have shown growth of 10 or even 20 times), the US stock market will no doubt become the object of massive sales. We recommend participating in this process, selling both the market as a whole (Nasdaq index) and the shares of individual issuers (Apple, Microsoft, Alphabet, Oracle, etc.).
TVC:NDQShort
by Trade24Fx
4