Do you see a wave 4 on the weekly back down before that top area you've mentioned Remo ?

For me , we are in wave 5 primary on dow and this is coming to an end soon so be very careful with new longs.
Ive roughly got the high for the wave 5 to end around 21733 area so roughly around 1000 points from current level on dow. Ive posted a very simple chart below to show the count as its the monthly chart as you can see its been one heck of a bull market and we need a big correction. My target is based of the wave 1 as wave 5 cant be the biggest wave so likely to be around similar size to wave 1 . So cant see this going past 22000.
Please dont ask me for the exact count as i remember giving everyone a headache last time around when we did the elliott thing back in 2009 in our private discussion board and also in the early days of our website. The good old days.


dl.dropboxusercontent.com/u/4899609/elliott%20wave%20dow.png

Agree and certainly not suggesting any shorting but Dow, S&P500 and Russells 2000 are all showing RSI and MACD divergence on daily. Nasdaq is the only major US index not showing this on the daily but all show divergence on the monthly.

The run up from the 2009 low has been incredible.

Resistance on the dow currently at 21100 so that is certainly a shorting point.

When the trend does reverse it will be quick and fast IMO. First stop for Dow will be 19200 area.

I would not short the dow based on guessing. You have to wait for a 123 high formation before attempting any shorts currently. The reason for this is , its got no resistances above currently so you cannot do any shorts.
Shorts are done from resistance levels so the odds are in your favour.
So best to wait for a better signal to form.



dl.dropboxusercontent.com/u/4899609/dow19thfeb2017.png

I would be very interested to hear Remo's view. I cant see what will change the trend. I have been burnt on a no. of post 20k shorts which was really quite stupid..

DOW is not showing any sign of weakness.
Attached are 2 charts suggesting that the uptrend is strong, the 10 MA looks like very strong support.
Please feel free to comment.
Thank you.
DYOR, GL...

Thank you Trenfriend
Taking a short or long position at the moment can be dangerous.
IMHO, the RSI divergence may indicate a trend change. However, DOW seems to be stuck in a triangle and consolidation is getting tighter implying a breakout is bound to take place soon. A breakout to the upside cannot be excluded, should this happen the DOW chart should be re-analysed.
If we see a breakout to the downside, then the targets mentioned earlier may come into play

DYOR, GL

Hi Ocean,

Nice chart...

the divergence on the rsi which you have highlighted on your chart, is a bearish divergence......and therefore indicative of a top building imvho.....however, that rsi div has been present for some time and could continue to remain that way, and like your saying the dow keeps making new highs.....so must not just jump in short, based on that indicator alone...

For now, i think it's just a signal not chase these markets higher......or at least to be cautious now imvho....
having said that if the rsi breaks that t/line resistance,(i think it will) a further leg up on the dow looks likely...

To short i think a lower is the best signal, so a break below the horizontal support at 19750(ish) on your chart must go first.......

as always imvho, dyor wdik
trendfriend

Good morning

The DOW keeps going up with new highs, on the daily chart lower highs can be observed on the RSI. Could this be a sign of a breakout.

If we see a downside breakout from the apex triangle, the first piece of support sits at the recent low 19,750. The majority of decent support lies down at near 18,700.

DYOR, Good luck..

dow daily.

uk.advfn.com/p.php?pid=chartscreenshotsh...FRlgjzjAHQhKA1fag%3D

careful with shorts here imvho, looks like a bull flag breakout to me at 19915.

this should now make new highs, lets see.

atb, wdik, dyor,
trendfriend

Hi Everyone, happy new year.
IMO DOW is approaching an interesting level, if a breakout is observed at around 19675 it is very probable further downside will be seen.

Tried to post chart but unsuccessful, hope this link works.

www.dropbox.com/s/t6ou0bbihbjyy0d/dow%20daily.png?dl=0

DYOR...

Getting close to a key level. Short from 18809.

Shorts standing by F4T roll on mon

Everyman and his dog will short at 20,000 or just below. Beware!

First time ive seen it change bearish on this indicator for a long while. Only thing is, the Christmas rally may mess this up.


dl.dropboxusercontent.com/u/4899609/2016-12-16.png

I'm out at 19010. See you next year.

Yep will post when i see this change
Trendfriend wrote:

Hi Remo,

Looks good, any chance you could post a chart when you see a change in trend please?

Dow daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...xoTqaAZvxNOFbViMcR4=

After all the fun games of the election, this rallied back strongly and tested the highs yesterday, and break and weekly close above 18672, could see it rocket, a target as high as 20,000 dow is showing quite possibly by year end....

Only a drop below the 200 day ema line currently at 17935, would cancel or delay the bull argument, and a retest of that level cannot be ruled just yet.....

atb, wdik, dyor, keep safe folks.
trendfriend

New expert on metastock 15, Sectorstat. Its good for direction of markets
Click image to enlarge

dl.dropboxusercontent.com/u/4899609/Scre...11-09%2018.47.42.png

The blue arrow indicated a buy signal a few days ago and red arrow indicates sell signals.Above zero on the oscilators is bullish.
This indicator looks effective in trending markets and less so in trading ranges.

dow.
uk.advfn.com/p.php?pid=chartscreenshotsh...FnglO0vkB7Bh2Zbd4%3D

ftse.
uk.advfn.com/p.php?pid=chartscreenshotsh...7h2enQJghn4r6j66s%3D

dax.
uk.advfn.com/p.php?pid=chartscreenshotsh...1pBHIl0KwmzglVF4s%3D

Just wanted to show, the rsi on all 3 index's today.
All of them are testing the rsi support from Jan 16.
In addition the dow, and dax both testing the 200 day ema line.

a break below, or down move today would be a disaster, imvho.
fan, s***(the brown stuff), and hit comes to mind.

It should hold and push on form here, but lets see....and anyway wdik....
gotta run now..

atb, wdik, dyor,
trendfriend

n.b these charts were from yetserday close, so the ftse, dax would have broken below those key rsi levels now.

It's also Halloween!!

be careful i make 17930 a key level. just my opinion.

atb, wdik, dyor,
trendfriend

Could be volatility while Thursdays election is still upon us, then push towards the highs again.
After all it is Christmas!

dow daily. (chart is from yersterday)
uk.advfn.com/p.php?pid=chartscreenshotsh...NexXxQmIiZfwzTBUc%3D

well i'm not quite as keen as you charts!

Bulls still in charge but only just, 19930 gives the bears the upper hand imvho ...but wdik
failure of the overhead resistance t/line may well have been a near term top??

atb, wdik, dyor.
trendfriend

Happy to go long at 17985.

November invariably a 'good' month.

Out at the moment.

Looking to go long by the end of the week, expecting a 3% rise in the dow and a test of the highs as the santa clause rally gets earlier each year.

dow daily

uk.advfn.com/p.php?pid=chartscreenshotsh...oteFyMYywlAMpguIw6I=

a triangle breakout is worth trading here, it should break upwards, as triangles are normally continuation patterns.

18345 is todays number.

atb, wdik, dyor
trendfriend

18565 happy to go short here.

DOW potential short 18700

Relentless moves totally out of sync with the economic picture (apparently). Who does money printing and low interest rates really help?

Interesting times ... I suspect a pullback soon just not sure how large it will be August tends to be a terrible month and I cant see any evidence to suggest why its not going to be this time around ....

Watch this level tonight or tomorrow its the massive daily channel top ...

Also note if you draw the fib retracement it marries up rather well on where it became unstuck on the way up

Its end of day data chart ...

I think this is now a inv H&S imho.
This could move substantially higher now, but off course we will get p/b's.
Possibly to retest the old high at 18345, and 18100 neckline.

as always dyor, wdik, and atb.
Trendfriend

theres loads of doji on the dow but even then im gonna be safe and sit it out to see whats happening

Going for 9 winning days on the bounce today.

A years resistance sliced through like a knife. Brexit has been the excuse central banks needed to go nuts. How high can we go without even a pb!! Imagine if Carney had cut rates today as expected.

stopped out already.

Im short from current level with a 100 point stop. This is a very strong resistance level so hence why im short.


dl.dropboxusercontent.com/u/4899609/dow14thjuly2016.png

I sold everything believing that the summer would be a long, not so slow drift downwards in the markets. Most commentators seemed to agree.How wrong have I and they been! I just cant make myself buy at these levels so am watching and waiting.

Luice.

This is breaking upwards

A finish above 18096 today will open the doors to 18312

If this bad boy goes through 18312 - then sky is then sky is the limit!

Over 18000 again. Can't be many with any money left now!

Hi All, hope all are well.

looking to reshort dow @ 630, or watch spx 66 n 70... to gauge the dow price. stop abv highs again... on way down watch 487 / 512 fist immediate target is retest of recent brexit lows and a break.....

ftse 340/60 > stop abv 450. 277 big number for ftse ...anything abv short n wait for break down of 277....


regards,
WS

Ive got my order to open on this trade set at 17405 for a short. This is the back test of the 200ema breakout. Im gonna place a 50 point stop on this and its during market hours only.



dl.dropboxusercontent.com/u/4899609/DOW28THJUNE2016.png

Fair play. Called it spot on months ago! Hope you traded it same way

Ronmould wrote:
...that should have been

Ronmould wrote:
:whistle

Not looking pretty...
im gonna short on the back test of the 200ema. if it gets there. 17400 area is where the 200ema is currently


dl.dropboxusercontent.com/u/4899609/dow27thjune2016.png

Im planning on going long on the dow on a first attempt of the 200ema during market hours only.
This level currently is at 17385. Im gonna use 40 points stop.This will be a short term trade so will close pretty quickly as expect the markets to go lower .
If it punches through the 200 ema then this will tank. I will go short on the back test a few days latter if this happens.


dl.dropboxusercontent.com/u/4899609/DOW16THJUNE2016.png

Dow daily

uk.advfn.com/p.php?pid=chartscreenshotsh...hbrnSDy4QAlr15/SvGQ=

see the action in the red boxes??
almost identical. like a fractal.

The most logical, especially when you take into account other technical's is down(like h&s top etc)....it's taking its time, and testing patience, but it will crack, regardless of what happens on the 23rd imho....

wdik, dyor.
Trendfriend

Quite a vivid imagination there MM!

I'm courious if todays selloff acrooos the markets has anything to do with UEFA Euro 2016, somebody taking money off the table