YM1
𝗗𝗼𝘄 𝗨𝗽𝗱𝗮𝘁𝗲: $DJI Weekly. KEY TRENDLINE AT RISK#Powell and #PPT trying to save MAJOR long-term TL. Will they be able to do it in the next hour?? 👀🍿
Capitulation Long on All Indices + #OILWe have some major oversold readings yesterday and last night. I am predicting a bounce similar to FEB 2018. We tagged the Year CAM S3 target that I spoke of yesterday, and some other MAJOR targets as well for SPX500 futures.
YM Big buy opportunity Take actionYM is coming to nice trendlines + its natural market movement and not market crash.
Now it must to finish mesured range up. Take care friends.
Nano Silver Water can help to battle CoronaVirus! Important.
DJI Bear ScenarioAt this point, it's very obvious that the market is all about futures trading, intraday patterns don't follow through the next day, the gaps have gone the exact opposite direction of afternoon trading the past few days.
I don't think the market does it's next leg down until MFI gets overbought, the usual pump and dump. CHart pattern suggests a gap fill tomorrow, then it's all about the Fed. Could be a non-event like Dec or they can tank the market.
We'll find out tomorrow.
YM1! E-Mini-Dow DIA Indicators in the pane below favoring a breakdown to induce a Short that is now waiting.
DOW30 SHORT MONTHLY CHARTMany tools show me that price can easily now going to retest the trendline and even break it to the downside.
Dow Jones: Update on the short term price action.Following Trump's phase 1 trade deal tweets, DJI rose but the uptrend stopped on the Higher High (bold black) trend line on the 4H chart. With 4H technicals turning neutral (RSI = 56.131, MACD = 85.700, Highs/Lows = 0.0000), this may be an early signal that today's High may deliver a rejection.
How far can that go? The previous two Higher Highs delivered a rejection of -1.50% and -3.00% respectively. The sequence can be either 1.50% lower on every rejection or double the decline of the previous one. Assuming it is the first, more moderate scenario, the potential drop goes as low as the first two symmetrical Support levels: 27,110 and 26,915.
It is important to mention at this point that even though Dow Jones is making Higher Highs on that pattern since November 19th, the RSI sequence on 4H is actually bearish on Lower Highs indicating weakness.
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Dow Jones: 4H Death Cross. Potential minor or major pull back.Dow Jones futures have so far failed to recover the 28,200 All Time High and has turned neutral on 1D (ADX = 17.288, CCI = 8.0129, Highs/Lows = 0.0000). On the 4H chart we see a Death Cross formation emerging (MA50 crossing below the MA200). Within the monthly Channel Up we've been trading in for the majority of 2019, every time a 4H Death Cross emerged, the index gave 2 major pull backs (May, August) and 1 minor (October).
Given the fact that the major pull backs took place after tops on the Higher High zone (red color) and DJI marginally touched that region on the 28,200 High, we assume that the current pull back will be a major one (around -7%). The Target Zone on this one is 26,600 - 26,180.
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All major indices are bear flagging on the 4h chartBaring a false new.s or hope on trade with China, this is going down.
Just my opinion....
Dow Jones - Sell on a Rally or BreakoutRisk still down on risk-off mood, renewed trade jitters incl China, France. If trade developments continue to play out as Tuesday’s news suggests, then Dec 15th tariffs will go on as planned, and a Phase One Trade Deal won't happen until 2020.
Markets are trading with a risk-off tone.
The call is to continue shorting Dow, either on a pullback to 27640/27770 zone, or through yesterday's lows.
Are small caps telling us something?Disclaimer: The above is just an idea for your entertainment, not a trading advice!
What if the markets were surprised ... !!??Everybody expects the FED to lower rates by 25 bp this week.
But ... :
- The markets are near all time high
- China US are talking
- Brexit is almost surely pushed
Ok some indicators are softening but with uncertainty lower (still very present but lower) what if they would decide to pause instead? That would be highly unexpected and that would create a nice reaction to the down side in the markets. If the FED lowers rates by 25bp, the reaction will be minimal because it is already priced in with 97% certainty. It is the surprise effect of leaving the rates unchanged that could be interesting this week!
I am not saying it will happen, but what if...?
This is not a trading advice. Just an idea...
Dow Jones: Channel Up turned into a Triangle.Dow Jones is extending the rebound on the Higher Low made yesterday on the 1W Channel Up (RSI = 51.067, MACD = 249.310, Highs/Lows = 0.0000) after the Nonfarm Payrolls missed the forecast today. This fundamentally bullish for the stock index (Fed and rate cut outlook).
Technically the 1W Channel Up failed to make a Higher High last month so the medium term overlay can turn into a Triangle. Thus we revise our target on a Lower High at 27,200.
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Dow Jones - Sell on Worse ISM!Markets are now very sensitive to data.
Worse ISM on Tuesday and worse ADP yesterday
have sent stocks lower and have generated a broad risk-off tone.
Today everything hinges on the ISM Non-Manuf.
report due at 16.00 CET.
If, as we expect, the print comes in worse, we will look to sell the Dow.
Target is 25250s.
