That was a perfect call TF, DOW boucned off the 200dma..perfectly
But as I was watching it live, was scared to take any long positions, as most analysts were expecting it going below 200dma
Now today market is back up, dow at 35750!!!
What I am not sure is how to make a call on live time....
now when I look back, chart looks perfect, bounce... but taking that call to buy around 200dma wasnt there from me!!

dow - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...JkJOKr+6fX1Pcczs0SY=

short term technicals suggest more down here....at least to the key 200 day ema line and pivot level at around 33900 and 33800 area

Key gap below the 50 day ema line and a inside bar....that looks bearish should see more down...but i think the 200 day should hold lets see... be real panic if it doesn't!

lets see...
atb, wdik, dyor,
trendfriend

Closed my shorts as seem to be some strength around….so sitting on sidelines again with the index.

Another lower low formed on the dow..
Possible 123 high formation..
Stops above 36325...
Away from computer so can't post chart

The markets have been hard to predict a top lately so be careful with shorts..Stops are a must.
I won't be liquidating my position in a hurry unless next supports break.. Also will hold onto my pharmaceutical companies and green ones...

This keeps see sawing and i am watching the support line which seems to be insupport from July. I am still in favour of looking for opportunities to short. It seems to be selling off every time it goes up

looks like a 123 top formation ? , also recently broke the main up trendline from march 2020.
Due to this i have closed most of my long positions apart from a few that i hold for long term.
Calling the top is a hard thing to do in this crazy world we are currently living in so bear that in mind.
DYOR
remo






Im currently short on the dow.

dow - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...ptLh5EgaZUrL9mqKY%3D

One issue with the dow is the index has become a very big number....and it does big number one moves almost daily but in percentage terms its only a few percent!

This looks like its done a higher low and should push on imvho....

i don't like the dow or the US markets or the Fed!
i think its all a fix imho. and anyone shorting will be shredded in not time....but when this all crashes its going to be the biggest stock market crash in history imho.... and that day is getting closer.

i think around mid 2022...but its only a hunch and wdik....

atb, wdik, dyor,
trendfriend

As TF said earlier, I think every dip is a buying opportunity...

was bit hesitant,but... ah... its back, FTSE is up last two days too

thanks for heads up

All my shorts are now closed...lol..
did not not work out like i thought.
The bulls some how have taken back control for the time being

I thought it bounced off the 100day ema perfectly?

This has broken the main redrawn trend line after a double top formation. I suspect this is heading towards the main 200ema around 32000.
I am short on the dow now and have closed majority of my longs on positions that i held in my sipp.

Ummm,,,, This is still hugging the down trendline back up....For the upmove to continue this needs to break above the recent high at 35091
The trendline will have to be redrawn once that happens.Its only a few hundred points away.
the other major US indexes are bullish and at all time highs so a tricky one this is.
im currently all invested again and will look for signs of weakness just incase.

I am just a follower here... I just follow the expert thoughts...

Looks like things are just going up n up n up as TF says... .
ta
G

Good morning all,

As fickle as the markets I think we just need to adjust based on what the candles and analysis tell us.
The last few weeks at least for me, most of my analysis were all over the place.

Anyway, today (yes I know it’s still pre US market) - the strongest signal showed up which is the 4 hour channel . The price action has now broken out north of the channel as of about 45 mins ago. My view is that the 35k is the next point at least to begin with. Then an ascending triangle to break it. No charts I apologise as I am on the train ….

Any views appreciated

waverider2 wrote:
Hi remo, do you still think the direction is downward or as TF says, buy the dip. ?

Thank you both of you remo, and TF for all your supports....
ta
G

dow - daily long term
uk.advfn.com/p.php?pid=chartscreenshotsh...hj+JQNyCR61g98l+zrg=

How many times in the last 5 years has the rsi fallen below the key 30 oversold level on the rsi??
twice....when we had full blown corrections....
no break below 30 level on the rsi....no lower...

dow - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...YxYFjgO1frVieUl+ukE=
notes are on the chart.
keep saying buy the dips....and don't short the US markets imvho... but as always wdik.

atb, wdik, dyor,
trendfriend

Remo- thank you for the follow up point on the trend break.

From a technical perspective- what would you say the move up today is around ?

I have seen this type of moves many times and it seems like a mix of short covering, traders coming into the mix and then dump etc etc.

Would be keen to know if this move is a classic move before the next leg down ?

Thanks

Ive closed most of my longs on my Sipp, and have shorted the dow now as its broken the main down trend line from last year and also has a 123 top breakout today so suspect this could head towards the 200ema

dow - daily. real time cash trading hours only chart.
uk.advfn.com/p.php?pid=chartscreenshotsh...mFaMuufMQZN9FoR24CM=

close up dow - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...0lJQG1PDkq923zpIY%3D

the trendline has indeed been busted....but watch the 50 day eme line.(green line)
key level and usually does a bear trap rebound from around there.

Whilst your right this looks shaky....it always bounces back. So i don't think despite the t/line going its a good idea to short imvho...
Maybe if we get a technical event like a big gap below the 50 day ema line then a weekly close below

Lets see...almost certain the fed will give the dow good pump in the next couple of days!

atb, wdik, dyor
trendfriend

On standby for a short as the long term trend line has been (i think)broken. I wlll see if a close today is below the trendline.....its all getting tricky as there is fed news tomorrow.....volatile

Dow is still bullish as long as it stays above the main trend line from march 2020.

I have to say it is getting too choppy at the moment ...

OK - there was a recent top. Then it kept falling....then it started to pick up forming the ascending triangle.

It is above the ichimoku line - and now it just broke out very powerful above the trend line....just my thought. I will be buying on the dips now.

As you all know - the dow always tries to test the breakout point......

Again just my thoughts.

Looking at the weekly chart, rsi & macd Have topped out & looks like there could be a correction coming but Looking at The daily chart, yesterday filled the gap & 50ma from Wednesday was support & Trendline held. I think if the rsi can stay above 50 on the daily & the 50ma level holds then more upside. But I don't like the looks of the weekly chart.

dow - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...Y23Z1IIY4y0fCc84E%3D

Possibly the first signs of some panic coming into the markets....certainly hasn't happen yet.
The key levels to watch are on the chart....
below 33550 would be a lower/low....or 1,2,3 high..

This always bounces back....every time i think its in trouble it bounces from the key technical levels/area and continues higher...
Lets see if the same happens again...
If those numbers/levels fall....expect a strong fall as it should then provide the catalyst for the move imho.

lets see
atb, wdik, dyor,
trendfriend

Looking getting closer to the support line.... at 33240?

Whats ya all thoughts? where is everybody?

ta
G

Me thinks some major selling to take profit but there seems to be a major accumulation which bodes well for the next leg up

Every drop is bought back significantly and quick

Good evening fellow comrades!!

Am I the only rascal thinking the markets are soooo volatile?

Dropped 200 points in a matter of seconds. 2days ago same thing only to recover. Tease and then drop.

What is going on

I still have my megaphone trade open - my first target is 40K - will close half there and add a trailing stop. Second target 42K

Agree TF - Looks superstrong

Comprehensive breakout on the Monthly chart
Short term it may fall back to current trendline

Longterm - I have target of 40K

dow - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...krv0c7hlQVxznCGWdTE=

quick update on the Dow.

Looks strong....no real sign of any weakness here imvho...
Aside from the long term negative rsi divergence being the only indicator that's bearish....but we cannot look at that in isolation.
This all looks good for more up, above the red t/line opens up 38,000 area imho.
Looking at the rsi its been making higher lows since Oct 20. So a lower/low on the rsi maybe a early signal of the rally faltering.... if/when that happens

No stopping the Americans....pump...pump and more pump!!

atb, wdik, dyor,
trendfriend

The impact that Fed speeches have never fails to surprise me!

Yesterday was really interesting- the rest of the indices went down the Dow managed to stay green most of the time. It seems to be yo yo ing widely today. Very keen to understand what people think - my view is that the US technology is leading and is bringing the rest with it.

dow- daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...ivx2lSVk5WjZ1LdTBmk=

outside down day on thurs played out perfectly with another down day Fri...
Not surprised to see a rally again as its a strong bull market and the rsi held support..

This is nicely inside this triangle only below 30300 would i be worried about lowe.
so 30300 no break no lower

above 32000 should see a new leg to the upside.

atb, wdik, dyor,
trendfriend

I have got the following resistance points for the Dow:

- 31200, 31400, 31600 and 32000

Anyone care you post their numbers here ?

Many thanks
Warren

This is interesting - however it is a nice catalyst for short covering and short term bounce.
Point to note - the Nasdaq was the lead indicator for a long time and the trend line has recently broken and not recovered .

The Dow is on the ling term upward trajectory but there is an opportunity to get into some lower price in my opinion.

The price action during the last hour on Friday last week very interesting to say the least.

I might be shot down for saying this but I am temporarily looking for opportunities to go short

This will fly high on Monday

www.bbc.com/news/world-us-canada-56221371

Hi all,

attached my DOW chart...Will it stop at 30000?

ta
G
Good weekend all

So again trying to get some clues from the leading indices (US tech 100 one of them) and Gold

So for the Dow i have the following points as numbers to watch to validate a potentially bearish position...

1. 31244
2. 31153
3. 30819

Comments welcome (like the good old days, where everyone was throwing in charts and supports and resistance)

I used to look forward to the Remo heads up messages...e.g. careful with new longs !

This looks set up for a March leg down..macro economically the growth figures for Q4 2020 and those who have "dared " to provide forward looking guidance does not support stocks at these levels...its the free money and in this instance the FED that is driving things...how can you possible accurately value things with such wild inaccuracies at play in these markets?

I have 31150 as the key support ( recent low). But the dow has the tendency of just taking out the stops there and moving so it will be interesting. The tech 100 seems to be leading at the moment and that got a beating today.

As they say wait for it to break to establish the short. And I would be shorting big (temporary) if it bounces off 31150 and keep going down.

As stated below - I am long term bull , the market seems very bullish long term. We just have to take some trades in the short term and then go long again at the right moment.

dow - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...yTiuCHAUjRZl6eLUag0=

Just a possible first sign of caution with the dow imvho.
That looks like a outside down day today....so we should see further downside tomorrow based on that pattern.
This needs to hold the Jan peak at about 31200 to stay in bull mode here....

If 31200 fails we could see sharp p/b like we had at the end of Jan....then back up again imho. The bull market is not in danger....just a possible small p/b of a couple thousand points..

Just a little heads up to watch the dow carefully if your looking to go long on any new positions may be a idea to see what the dow does....maybe a chance to get a better entry by waiting
31200 is the key level to watch imho

atb, wdik, dyor,
trendfriend

As I was thinking its broken out of channel and going to moon, it comes crashing down?

What ya all think ?

ta
G

Amazing.

First it hit 32k, then came crashing down almost to test support.
What a roller coaster.

Megaphone or what I don’t know but it is certainly very choppy setting 32k the current bar. It almost seems to be going by 1000 each time

AdeMcG - that must be a big relief, financial freedom. I have been making plans for doing the same and it is a great feeling. Anyway, it is very nice to see a lot of old faces here. I remember the times when it was very buoyant - like an old wild wild west gold mining town Cant imagine how Paitech can be here for that long but there is Libero and gang too ....

I have been watching the price action and as the general trend is up (and the megaphone pattern from what i can see is also something you see in a bullish trend). However, i have been waiting on the sidelines for a pullback - even a small one to get back in.

Anyway - with the Dow flying up and down i thought it was best to remember Remo's wise words around not to trade the Dow during non standard trading hours - this was shared when we started the chartsview group (not sure how long ago but must be easily 8-10 years ago).

Wow thats impressive AdeMcG, Final payment? wow... a big weight off the shoulders...

I have a huge one, so my shoulders are struggling lol

Stay safe, regards to your fam.

ta
G

Hi all,
I hope you are all safe and well in these uncertain times.

We paid our final mortgage payment in December , so we had a nice relaxing Christmas, only had 1 salary instalment since (January) so looking forward to Feb to really notice the difference.

Back on topic here..was thinking March has often been a rough time for markets, I think April might be a turning point here.

Good luck and more importantly, stay safe

This has broke out of my megaphone today on the futures so taken a small long - very small, as need to cover the 2000 points to the recommended stop position of 29.5K!

Thank you Remo.
Kind regards
G

In my other post to you Paitech, I did say if the Dow goes above it’s high then longs back on...as long as higher highs are continued then you can stay long, just look out for signs of 123 tops or lower lows..
This market is behaving crazy, and when every body is trading(public), then you know a top can’t be far away...
Apparently 1 in 5 Americans are trading.....that’s a lot of newbees, so market is getting primed for a drop soon...
So basically look for a 123 top formation....but these are kinda risky to trade as moves down normally happened in 3 waves so you do get a lot of false signals...so have to be ready ..
So basically play smart....