DOW

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: 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

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