DOW

You've got to love the DOW, could take days or even weeks to work out who the president is, all with a pandemic reaching a critical point - still pumping


...I don't get why Biden is Favourite - if you look at the split on remaining college seats it looks like Trump is ahead to me.
but I don't really get the US system!

Trendfriend wrote: dow - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...O4zRyHA8IIgGk6aPE%3D

Does seem that Trump will possibly be in for another term!
So we could well see decent rally on the back of that over the next few days....

However the Dow could well stay inside this channel that looks to be forming on the trading hours only chart.
So possibly 26600 for another lower high.....then back down to 26000 for lower low??

lets see...as always wdik..and if your trading this... Bravo!

atb, wdik, dyor,
trendfriend

great chart TF, the markets are still bouncing - they don't care anymore - about anything!

Now, election wise, Biden is the favourite, but it's not done just yet.

It's really weird one.

dow - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...O4zRyHA8IIgGk6aPE%3D

Does seem that Trump will possibly be in for another term!
So we could well see decent rally on the back of that over the next few days....

However the Dow could well stay inside this channel that looks to be forming on the trading hours only chart.
So possibly 26600 for another lower high.....then back down to 26000 for lower low??

lets see...as always wdik..and if your trading this... Bravo!

atb, wdik, dyor,
trendfriend

updated DOW Chart

Ronmould wrote: I'm good thanks Lib - hope you and yours are too.

I expect the virus will feed wave C more than the election itself but on election day last time the DOW lost and regained over 5%...was thinking if we saw a similar hammer again it could mark the bottom although expect the recovery will be long and drawn out.

I have a little short from when the trend broke Monday with a big stop (just above Sept high) - I like the look of a double bottom with the March low but I'll be looking to close below 20K.

Glad to hear all's well with you buddy. yeah things are ok here too.

thank you for your reply - you did raise the old eyebrows with your 20K comment though! I mean anything is possible, but this much intervention by central planners, i can't see them giving up the fight in proping up prices just yet. As an amateur trader - obviously, i'd like see great action and 20k is great action!

lots of "indicators" are calling for further down side - though as I type, the Dow is clawing back some 230 points from the open - maybe a rally to sell into!

Anyhoo, looking to ride this move further - can't see anyone holding over the weekend (unless they are covering shorts!)

Will look to add more meaningful commentary later today - an update on my chart if you will - hopefully it will add a view!

Take Care Y'all.

I'm good thanks Lib - hope you and yours are too.

I expect the virus will feed wave C more than the election itself but on election day last time the DOW lost and regained over 5%...was thinking if we saw a similar hammer again it could mark the bottom although expect the recovery will be long and drawn out.

I have a little short from when the trend broke Monday with a big stop (just above Sept high) - I like the look of a double bottom with the March low but I'll be looking to close below 20K.