Jump to content

Indices


Recommended Posts

So a massive drop on the day in the US session, worth taking a step back and looking again at the weekly chart we see Dow currently held up at it's weekly support level with price looking to have bottomed out on the shorter time frames for now. Dax has been halted at it's monthly support level while Nikkei has returned to it's long term resistance levels having broken out several weeks ago. FTSE has cleared it's weekly support zone but still a long way from it's monthly support level. Should be a very interesting day tomorrow.

image.thumb.png.fb2fc5d62b79c8fe0b973371fb577063.png

  • Sad 1
Link to post
  • Replies 5.1k
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

Was interesting @PandaFace, even more so now as people realised Trump was only discounting the most severe response  to China (for the moment), not actually halting the 'trade war'. Bounce off th

JESS ........TWO BARKS FOR BUY     ONE BARK FOR SELL   ???

Dax pausing at the weekly R1 and Dow within striking distance of it's all time high. H1 charts;

Posted Images

About DAX

This could go either way (as usual?)

We should get a sell off when the neckline breaks in the big head and shoulder formation

But will it be a false sell with a fast drop and a fast recovery (v-bottom) and then up to new all time highs 

or is this the real thing with a long term top and a bearmarket? 

Time will tell?

The target for the HS formation is 9 600 ish (2 000 neck to top) 

Link to post

Ooh mate, I thought you had posted a chart, I'm so disappointed ☹️

But yes I can see the neckline and it's not too far away and also seeing the drop is continuing into the US close and Asian open.

You never know.

 image.thumb.png.443b1d2eb5c5ba914d474433d89f2e00.png

  • Sad 1
Link to post

Just noticed the mistake in the pic in post above, the figures should be 2000 not 200.

Some further downside overnight halted at 3am bst but Dax and FTSE look to be itching to go further this morning while Dow looks content with 25177 for now.

image.thumb.png.683986ea8ef3fa4b565a904c9c36e377.png

image.thumb.png.96ba3b39935bbc5bbc63c307838d54f8.png

  • Sad 1
Link to post

In a post, somewhere, can't remember which thread, I observed that the US large Caps looked bearish while the FTSE and Nasdaq were giving some bullish signals.  I wondered whether we could see divergence, but should have known better.  The stock indices remain joined at the hip and I suspect they will all the way down too.  However the question is whether this is it or not.  I have been waiting for a strong retrace of this nature in an EW3-4 fashion to set up a final leg to top out the market and this looks like it at present.  Will we see a sharp "buy the dip" reaction or is this really the end?  Answers on a post card please...

Link to post

One additional thought about all this.  If this is the end then why hasn't USD taken off?  It may yet of course but so far it has gone in the opposite direction, albeit only in a small move.  Maybe it has all gone into bitcoin?  (Ah! maybe not... - sorry couldn't resist ?).  Therefore I remain cautions about jumping on the Bearish bandwagon (which as a perma bear is saying something I recognise!) there will always be another opportunity.  I am sticking with my road-maps on FX and therefore also on everything else for now until the market confirms it of tells me something else is happening.

Link to post

True enough the rout was started on the US open yesterday and then continued round the globe/clock. There was a push down attempt on the US open in 4 of the last 5 sessions and I'm just looking at the Dow 1 hour leaning against the recent low looking as innocent as you like just waiting for 2:30.

 image.thumb.png.8e14d4105ec36cd95724dbfacc8f6926.png

  • Sad 1
Link to post

Nice analysis @elle, Out of hours can be a pain overall but useful perspective.  Interestingly for me the 2 drops you have highlighted with arrows both follow an A-B-C retrace pattern, well the current one isn't complete yet but still.  If we are to see a rally out of this it will have to start at or soon after US open I feel.  Quite normal to get an initial move the wrong way and then a turn into the trend for the day on opening, so that could be an initial further drop (call it a catch up on Asia and Europe drop if you like) and then a turn and rally.  MY Daily Dow chart shows similar support level to yours around the 25,000 mark, a zone I had picked out before the current bear move.  It also coincides with a supporting trend-line.

DJI-Daily_111018.thumb.png.aedd3b0e45a1fc67910dc3df31200cbe.png

Link to post

It was most disconcerting yesterday morning to find on the Dow chart that my auto fractal support/resistance drawing app had been completely overwhelmed and I was forced to draw my own **** horizontal lines. This morning the same has happened on the Dax! When will this madness end? 

The FTSE has seen twice as much action out of hours of late than during a typical day with a continued drop then recovery to return to yesterday's close and similar story with the Dax which has just backed away from yesterday's high.

Not too much on the calendar today though maybe something out of the G20 meeting. China and US to start trade talks again announced overnight may provide a boost.

image.thumb.png.3a6c6be88c48f232a2097515a422d7d2.png

 

 

  • Sad 1
Link to post

Start the week so a recap of the weekly chart and the big question is will Dow seek to retest the low at 24895 or look above for resistance? The 1 Hour shows Dow trapped in the same triangle pattern as S&P through there is a short term support level at 25200 and that level is key for the morning session.

Dax on the 7 am Euro open is looking to push lower but lacks conviction and is waiting for the London open to decide direction. 

 

image.thumb.png.03e34ba1bc6e4f349c85dfa3762b88d3.png

image.thumb.png.3bdaf68f350b6c39ffe19b50ffe83aab.png

  • Sad 1
Link to post

The Dow giving an example of price just dribbling out of a triangle pattern sideways rather than exploding out up or down but is building on successive short term support levels to keep retesting resistance. Currently looking for downside below 25172 or a test up of 25484.

Dax is positioned well for a test of the old monthly support turned resistance at 11700 while FTSE looks to resistance at 7078. These two are following the recent Nikkei move up.

The Dow daily is an interesting bear pennant made up of dojis, obviously bearish but these recent moves have been more sentiment based than technical.

1 hour charts (note I have changed round the positions). 

Daily Dow.

image.thumb.png.287b5c173021c23d0cbdc86932097a20.png

image.thumb.png.71f48a3b7171dcbebe175204717849c4.png

  • Sad 1
Link to post

Dow has worked it's way back up to pause at it's previous weekly support level around 25748 and Dax has done the same resting at it's previous weekly support level around 11862 having broken up through it's previous monthly support level 11700 yesterday (dark red). Nikkei and FTSE showing the same chart pattern as Dax and Dow.

From these red levels maybe looking at a short retracement but could equally see a solid push through, the London open should decide it either way.

image.thumb.png.c16d89f7ea2ebe5d5de108a8c7866727.png

  • Sad 1
Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • General Statistics

    • Total Topics
      13,773
    • Total Posts
      68,613
    • Total Members
      57,460
    • Most Online
      5,137
      14/01/21 09:51

    Newest Member
    raninda28
    Joined 25/01/21 21:53
  • Posts

    • Doloress. If you don't want to buy them on an exchange and use a wallet to sold storage them yourself, you cshould consider someone like Globalblock who will enable you to buy/sell and also offer a safe storage solution for Crypto. I also use Gemini which you can set up easily online and have safe storage solutions. Click and trade. Bybit are not bad as an exchange but you sound like you are just starting up so you may want to consider one of the two earlier options for peace of mind. My advice would be to start off with something like 60% BTC ,  30% ETH and the remaining 10% split into alts like Polkadot , ADA, XLM and LTC. Use Tradingview (or IG have this actually) to look at the ETHBTC chart over four years which shows you that ETHBTC got close to  1,000 at one point and is currently only 415 . This shows you that in a bull market ETH should outperform BTC by almost twice. Other alts could give you even more upside relative to BTC  but the big institutions are buying nearly all BTC and some ETH. Other useful sites are real vision.com with lots of good Crypto explainer videos. Follow PlanB, Northstar ,Nikkitrades and a few others on Twitter . Good luck!! 
    • If you want long exposure to Bitcoin you could consider buying Microstrategy Inc as a kind of proxy call option seeing as they have a policy of hoarding Bitcoin, but they have run up a lot recently despite Bitcoin retracing significantly from its recent high, so allow for a delay effect. I would try to value the  company with and without the Bitcoin stake to get an idea how much fluff is in the price, cos if everyone suddenly dumps their Bitcoin at the same time it could end up being a virtual asset that is virtually worthless.  
    • Hey all,  There's a team currently working to add a dividend reinvestment plan. We don't have a time frame yet but I will update you.  All the best
×
×
  • Create New...