DOW

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).