US30
DOW JONES Don't lose sight of the great picture. Still bullish.Last week, while Dow Jones (DJI) was still under its 1D MA50, we called for a major rally, as technically the 5-month Channel Up has just priced its new Higher Low:
The index has now almost reached the Target of the first Bullish Leg of this pattern, pointing to a potential relief next.
On the larger picture however (1M time-frame), we had posted an article named 'Secret Cycles' on April 12 2024 (see chart below), during Dow Jones' previous pull-back that again inflicted fear in the markets, calling for a strong buy:
It is this chart that we revisit and expand up today, as we don't think the long-term trend has changed. We want to maintain a clear long-term perspective and following August's massive recovery 1M candle, we believe that Dow will enter by Q4 2024, the final stage (rally) of its current Cycle.
That has historically been 1 year at least, so as long as the index keeps holding and closing the monthly candles above the 1M MA50 (red trend-line), we will continue buying all monthly dips. Our 48850 long-term Target is intact.
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Equities Climb Ahead of Earnings and Jackson Hole SymposiumEquities Rise as Traders Await This Week's Earnings, Jackson Hole Symposium
Current Outlook:
The trend suggests a potential upward movement as long as the price stays above 40,800. However, consolidation is expected between 41,030 and 40,800 until a breakout occurs.
Bullish Scenario:
Trading above 40800 will likely support a rise towards 41030 and above it will get 41340.
Bearish Scenario:
If the price reverses and stabilizes below the pivot line at 40800, a bearish trend may develop, targeting 40480 and 40320.
Key Levels:
- Pivot Line: 40800
- Resistance Levels: 41030, 41340, 41600
- Support Levels: 40650, 40480, 40320
Today's Expected Trading Range:
The price is anticipated to fluctuate between support at 40800 and resistance at 41130.
Tendency: Upward Movement
US30 Will Go Higher From Support! Buy!
Please, check our technical outlook for US30.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 40,911.45.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 42,000.59 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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Additional rebound in US30 remains possible
US30 is showing a continuous uptrend as expectations for the US economy arise, along with the anticipation that Chairman Powell may provide clues about rate cuts at the Jackson Hole meeting. Goldman Sachs lowered its 12-month recession probability for the US economy from 25% to 20% following the release of July retail sales and jobless claims data.
The current market consensus is that the August employment report will determine future US30 price movements. Morgan Stanley stressed that the report's outcome will be the real test for the market, warning that a report showing weak employment would reignite growth concerns.
US30 quickly breached EMAs and continued its uptrend, rising above the trendline. The index needs an additional price trigger to retest its highs, but the current positive trend is expected to continue for the time being.
If US30 sustains support above the trendline, the index may gain upward momentum toward the 41500 high. Conversely, if US30 is pushed below the trendline and fails to hold above EMAs, the price may break the 39300 support and fall further to the 38000 level.
Dow jones Potential UpsidesHey Traders, in tomorrow's trading session we are monitoring US30 for a buying opportunity around 40050 zone, Dow Jones is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 40050 support and resistance area.
Trade safe, Joe.
US30 SingalUS30 Analysis - Daily
In this analysis, we are anticipating the formation of a Head and Shoulders pattern. Based on this pattern:
Sell Entry Point: A sell signal has been triggered near the neckline and resistance area. If the neckline breaks downward, a significant bearish move is expected.
Buy Entry Point: If the price bounces off the identified support area below and fails to break down, a buy signal will be activated. In this scenario, the market could move towards higher targets.
Overall, we expect a continuation of the bearish move if the neckline is broken, but if not, a potential reversal to the upside is likely.
US30 ( TRADING BELOW RESISTANCE TRENDLINE ) ( 4H )US30
HELLO TRADERS
Tendency , the price is under bearish pressure , until trading below resistance trendline .
Turning Level: The price is currently trading below this level around 40,671 . As long as it remains stable and stays below this level, a drop toward the support level is likely . However, if the price breaks above this level and a 4-hour candle closes above it, an upward move toward the resistance level can be expected.
Resistance Level (1): around 41,016 , The price is currently below turning level . To reach this level, the price needs to break and close a four-hour candle above the turning level at 40,671. If the price reaches 41,016 , and stabilizes above it, it will likely attempt to reach resistance level (2) .
Resistance Level (2): When the price breaks through Resistance Level (1) and closes a 4-hour candle above it, this suggests it could reach around 41,348 . To confirm an uptrend, the price needs to reach this level before moving on to Resistance Level (3) at 41,718 .
Support Level (1): As long as the price remains below the turning level of 40,671, it suggests a drop towards 40,208 . If the price reaches this level and stabilizing below it, it will likely attempt to reach Support Level (2).
Support Level (2): When the price breaks through support level(1)and closes a 4-hour candle below it, this suggests it could reach around 39,932 . To confirm a downtrend , the price needs to reach this level before decline on to support Level (3 )at 39,606 .
Channel Trend: the trading rate within the ascending channel.
TARGET LEVEL :
RESISTANCE LEVEL : 41,016 ,41,348 , 41,718.
SUPPORT LEVEL : 40,208 , 39,932 , 39,606 .
Time Frame : 4H
US30 / DJ30 / DOWJONES Market Bearish Robbery PlanMy Dear Robbers & Traders,
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US30 H4 | Overlap resistance at 78.6% Fibonacci retracementUS30 is rising towards an overlap resistance and could potentially reverse off this level to drop lower.
Sell entry is at 40,516.27 which is an overlap resistance that aligns close to the 78.6% Fibonacci retracement level.
Stop loss is at 41,280.00 which is a level that sits above a swing-high resistance.
Take profit is at 39,974.82 which is a pullback support.
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US30 SHORTS FUNDAMENTALLY ;
geopolitical tension makes investors to sell off their stocks and go to a safe haven as gold
technically :
bearish trend
the break of the bullish structure on the daily
three leg extension
deep retest to the broken weekly supply and demand zones
4h looking for shrinking candles
lose of momentum
a long wick shooting star candle indicating my short position
1h double top
30m an engulfing candle as my entry
WEEKLY REVERSAL WEDNESDAY IN SALES
We observe a monthly macro downtrend that we believe may continue to hold. At the beginning of the week, the institution creates an accumulation, followed by a manipulation in the price, breaking that accumulation and making the masses think that the price will continue to drop. However, it is actually a buy to generate more liquidity and achieve a better price for the macro sell that the price has been respecting.
DowJones - 4H Bearish SetupBLACKBULL:US30 has been exhibiting signs of bearish pressure, despite recent upward movements. The chart shows a significant decline below the ascending trendline. The recent upward movement appears to be a pullback, potentially setting up for further declines. Two key resistance zones have been identified on the chart, where the index may face renewed selling pressure.
Fundamentally, the broader economic environment is contributing to the bearish outlook. The possibility of a recession looms large as the Federal Reserve has postponed rate cuts in response to persistently high inflation. Rising unemployment claims are another concern, signaling potential economic weakness. These factors are creating an environment where risk assets like the Dow Jones are likely to struggle, and any rallies may be short-lived.
The current pullback in the TVC:DJI could provide a better entry point for those looking to short the index. The key resistance levels identified on the chart could serve as optimal zones for initiating new short positions, with the expectation that the index will continue its downward trajectory.
Given the macroeconomic uncertainties and technical setup, traders should remain cautious and consider the potential for further declines in the Dow Jones Industrial Average. This cautious stance is supported by both the chart analysis and the broader economic fundamentals.
Market Awaits CPI Impact After Producer Prices Boost Equities Producer Prices Report Lifts Equities Ahead of CPI Data
The price has successfully reached all our previously mentioned targets, and today's movement will be heavily influenced by the CPI release.
Current Outlook:
As long as the price remains below 39,900 and 40,020, the trend indicates a potential downward movement.
Bullish Scenario:
If the CPI comes in below 3.00%, it will likely support a bullish trend, particularly if the price breaks above 40,050, with potential targets at 40,320.
Bearish Scenario:
A bearish outlook will be confirmed if the CPI matches or exceeds 3.00%, especially if the price stabilizes below 39,900, with potential declines to 39,620 and 39,260.
Key Levels:
- Pivot Line: 39,780
- Resistance Levels: 39900, 40050, 40320
- Support Levels: 39620, 39260, 39120
Today's Expected Trading Range:
The price is anticipated to fluctuate between support at 39,260 and resistance at 40,050.
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