Licking me chops.Licking me chops. Wait for a retracement on smaller time frame. Target the gap or Sunday market open. Well see how this plays out next week.
USAIND trade ideas
Technical Analysis of the Dow Jones Industrial Average
The Dow Jones Industrial Average, as one of the most important benchmarks in the US stock market, is currently approaching a sensitive area in the range of 41363-41191 units. A review of the chart shows that this area acts as a strong support level and there is a possibility of a positive price reaction to this level. A full analysis of this situation will be provided below.
1. Price Structure Analysis
The Dow Jones Industrial Average has recently exited the ascending channel it had maintained in the past months and entered a corrective phase. This correction has led the index towards the aforementioned support area, which is considered a key and valid level given the history of price performance.
Level 41363-41191 units:
This support area is obtained from the collision of several technical tools, including Fibonacci ratios (100% and 113% retracement) and the dynamic support of the lower trend line of the channel. Also, the price being near the lower band of the Bollinger Bands indicator also indicates the possibility of slowing down the decline and starting an upward rebound.
2. Bullish scenario
If the index can maintain the support area of 41363-41191 units, a positive reaction and price increase can be expected.
Short-term bullish targets:
The price returns to the resistance level of 43749 units, which coincides with the 38.2% Fibonacci line. This level is considered the initial target for the rise if the price is supported successfully.
Breaking through this resistance can pave the way for reaching higher levels in the medium term, including the psychological resistance of 45000 units.
3. Bearish scenario
If the index fails to maintain the support area and stabilizes below the level of 41191 units, there is a possibility of continuing the downward trend.
Bearish targets:
The next support level is around 40800 units, and if it is broken, the possibility of further decline towards 39500 units will be strengthened.
This decline could push the index into a deeper correction phase and increase selling pressure in the market.
US30 Sell Overall trend is ascending channel, but the channel is broken to retest a stronger zone @ 41671.38 before the continuation of the ascending channel. So US30 is still gonna push to 41671.38 before it will start buying. And I'm waiting to sell after the breakout of 42171.90. buying where it is right now, not good for me. Because of the stronger zone @ 41671.38. I'm gonna wait to buy @ 41671.38. this is my view for US30. drop your comment
uptrendIt is expected that the downward trend will end in the current support range and we will see the beginning of the upward trend.
Otherwise, if the support level is broken, the downward trend will likely continue
DOW - longI see sooo beautiful potential opportunity on DOW. Let me explain...
From technical viewpoint - structure of Dow is long term bullish. This is very clear. At this point price seems to end the correction it started at the beginning of December 2k24 after making ATH. If price is going to break to the upside through resistance, this is potential of juicy 1500 points swing move to the ATH.
From fundamental viewpoint - tommorow (18th December 2k24) is Rate Cut from FED with 95% probability of 25bp.
Technical and fundamental viewpoints links to each other so my prediction is this:
From tommorow (the day of 25bp rate cut from Fed and finish correction by breaking resistance to upside) is going to be continuation of bullish trend that's gonna last long time and potentially break ATH to make new ATH.
Probably I have never seen that clean structure of Dow in my trading career for swing trade...
We're gonna make a lot of money :*
~AS Malone
US30US30 on daily will retest the neckline trendline and a demand floor for a potential buy opportunity
US30US30 rejected the roof at strong supply zone in the form of ascending trendline and sent price tanking, on technical buy us30 tomorrow, but we will look at strong confirmation on lower time frame for buy entry position
Analyzing Market Trends and FED Interest Rate Decisions "SPX"The daily chart above highlights FED interest rate cut decisions with vertical lines. I've used the DJI ticker instead of SPX, as it provides a more comprehensive representation of the overall market, unaffected by the dominance of the Magnificent Seven.
My analysis focuses on monthly candle peaks (indicating overbought conditions) and lows (indicating oversold conditions), as well as direction reversals. This cycle repeats, forming higher highs and higher lows. By identifying these patterns, we can determine the market direction, which is either trending upward (green) or downward (red).
Now we know the direction where the market is heading. Its either trending to form a new higher high OR new higher low.
With that understanding, when we plot vertical lines on FED decision days, the direction has not changed. HOWEVER, the decision is accelerating the market direction to its targeted price(either higher high or higher low).
The above guidance is for swing traders for a duration of about 2/3 weeks. Intraday traders can benefit this by looking at days high and low before decision announcement and knowing where the market is generally headed.
As a trader, I utilize custom-built screener tables that cascade data across multiple timeframes and stocks/sectors. This unique approach provides a fascinating big-picture perspective, highlighting strong stocks and sectors.
Reach out to me OR follow me for further insights.
Happy Trading!!
US30 morning analysisTechnical analysis of US30.
Cleaned Elliott Wave count off chart.
Pitchfork drawn from major pivots over the last 5 years (March 2020 low to January 2022 high to October 2022 low.
If price cannot tag the median line (red line) of the pitchfork, there is a high probability that price will return to the last pivot (green ellipse).
At present, tagging the median line would require ~20% gains from current price. Anything is possible, but odds would seem to favor <20% gains in 2025.
Price again broke pitchfork support (lower blue line) yesterday, on impulsive price action.
If top is in, price likely to topple towards October 2022 low (28586.8) on continued impulsive price action.
Possible Cypher bullish pattern for Dow?Hi Guys,
The US 30 has been getting sold off from its most recent high and there has been minimal to no interest for any support thus far.
Currently it is testing the 50DMA and close to daily support level., where we may see a small bounce up to lower time frame resistance levels. A break and close below the 50DMA and further a break below support opens the door for the Dow to head to the FVG below, and a test of the 100DMA and a very obvious demand zone where a bullish move looks inevitable.
If price does move to that area then there will also be the entry point for a bullish cypher pattern with excellent fib ratios. All in all nice confluence at the cypher entry point if price can get there. Daily RSI is currently not yet in oversold but could end up being so if we move down to the cypher entry zone, which will add to confluence.
Furtermore, if the Dow can rally from there back up to the high then there could again be strong selling pressure at the 2.0 retracement of the bear market high to low located at around 45300 level. ( Dow did not quite hit that level on this swing lower and RSI was not in overbought albeit showing clear divergence)) Two potential huge risk to reward trades if price reaches these levels.
Safe Trading all
US30 shorts , huge profits huge fall on us30 , i first approach this trade by identifying the triple top at the end of the uptrend . once price broke below the neckline and pulled back . i enter my first entry and than slowly scaled into the trade with other lot sizes as the down trend continued to play out
scalling babyWhat are the stages? What are the stages to escape from slavery? Now you know it...
~ AS Malone
US30US30 buy signal triggered on 5mins mss on the previous idea on buy entry,
Strategy: 4H Liquidity grab, mss, bos, retracement to an order block coupled with an imbalance.
US30 at Support Pre-FOMCUS30 (4H) Dow Jones Industrial at support. October high backed by the October high week close. Bulls need to hold this levels to remain constructive on this stretch.
Dow Jones rebound Dow Jones is probably bottom as my indicator on the 1hr timeframe show that. This movement compare to nasdaq is bullish. a shift of liquidity from nasdaq to Dow ahead of FOMC today?
Expecting windfall returns after another 2% down on DJI
As I analyze the charts of DJI and S&P300, a compelling narrative emerges. To establish a higher low, DJI needs to revisit its support level, approximately 2% lower from current levels, before the end of this month.
To gain more confidence in the overall market structure, I constructed an S&P300 index by selecting the top 300 volatile stocks from the S&P500, excluding the top 10 largest market capitalization stocks to minimize data skew.
The chart below displays two sets of candles: DJI (divided by 400 for scaling purposes) at the bottom and S&P300 at the top. Observing the S&P300 chart on a monthly timeframe reveals a notable pattern – most candles bottom out approximately 2% above their previous month's low.
Currently, the S&P300 price is still 4% above its previous month's low, indicating another 2% downturn is likely. Given the strong correlation between DJI and S&P300, it's reasonable to assume DJI will follow a similar path.
With this insight, traders can confidently prepare for potential trading opportunities, leveraging the anticipated 2% drop to their advantage.
# Key Takeaways:
- DJI needs to revisit its support level, approximately 2% lower from current levels, before the end of this month.
- S&P300 is likely to experience another 2% downturn based on its monthly chart pattern.
- Strong correlation between DJI and S&P300 suggests a similar price movement.
# Trading Strategy:
- Prepare to take trades at the anticipated support level, leveraging the expected 2% drop.
- Monitor the S&P300 chart for confirmation of the 2% downturn.
- Adjust trading strategies accordingly to optimize returns while minimizing risk.
Happy trading!!!
Checkout my other free indicator sangana beta table to see beta of stocks in a table all at once(works for S&P500 and Nifty 500).
Note: I am not a financial advisor. Do your own research before investing!!
Dow Jones (US 30) Pullback to Channel SupportChart Analysis:
The Dow Jones Industrial Average remains firmly within an ascending channel (green zone), with the current price nearing key channel support after a pullback.
1️⃣ Ascending Channel:
The price continues to respect the upward-sloping channel, which has been intact since mid-August. The lower boundary, near 43,450, is a critical support level to monitor.
2️⃣ Moving Averages:
50-day SMA (blue): The price is testing this level at 43,514, which aligns with the channel support, acting as confluence.
200-day SMA (red): Positioned at 40,705, reinforcing the broader bullish trend and serving as a long-term support zone.
3️⃣ Momentum Indicators:
RSI: Currently at 39.77, approaching oversold territory. A bounce from this level could signal renewed buying interest.
MACD: Bearish momentum persists, with the MACD line trending downward. However, traders may watch for signs of a crossover near support.
What to Watch:
A successful defense of the ascending channel support and 50-day SMA could provide a foundation for a rebound toward the channel's upper boundary.
If the support fails, the next significant area of interest would be the 42,000 level or the 200-day SMA near 40,705.
RSI movement and MACD signals will be key for confirming shifts in momentum.
The Dow remains within its bullish channel, but traders will be closely watching how price reacts to this critical support zone.
-MW
US30Market still in the bearish trend, if any reversal pattern occur at the support zone will go long with the main direction..
Follow for more analysis!!!!!
Thank you!!!!!
US30/DOW - LONG OPPORTUNITYTeam, the DOW is about to breakout, good entry
PREPARE TO ENTER LONG US30/DOW at 43610-15
STOP LOSS AT 45555
TARGET 1 AT 43667-75 - take partial and bring stop loss to BE
TARGET 2 AT 43736-52
TARGET 3 AT 43825
