Where are you Wavesurfer????
We need ya back here please....

Trendfriend.

https://youtu.be/9azjzhoL670
Squeeze n dump.

Bull over.

See u at sub ~11000 dow next year....2017

Dow daily.
Why do i think that's a bear flag??
Watch 16020 bottom of flag....
Regards,
Trendfriend

This charts a bit crap( ok more than a bit!!)
I wanted to show the rounded top, so ignore the bottom of that circle, just see the top part please!
I now think this will eventually make it's way up to the circle before a final dump.
Weekly chart so will take some time to get there, and market will be volatile, but should hit that the rounded top around about where that re arrow is... around 17000 level.
JMHO,
Trendfriend.

if 15370 gets taken out then watch the market really drop hard.Still around 600 points from that area.
Im out of shares for the time being. Have been for a while.I only have been doing short term trades. Its best to wait for a proper 123 low formation before getting new shares.
short term on the dow , if it goes below 15880 today then it should head lower towards 15370.

dl.dropboxusercontent.com/u/4899609/dow28thjan2016.png

Just a quick look here.
This did finally break out of the the bearish channel, expected a substantial bear market rally, but it did not happen so far anyway.
Which leaves me thinking we have a bear flag developing on the hourly.
This looks worth a trade to me, if the flag breaks down, @ 15750... (rising hourly)
This level could well hold, maybe just a pullback to retest the channel.
Failure to hold could well be the start of the next leg down, and would be the signal to short imho...
Wait for flag to breakdown @15750(rising hourly), and then short with tight stops above the flag trendline.
Lets see it plays out today....
Regards,
Trendfriend.

having some fun the Dow atm....
still in this bearish channel failed @ 16040
Until it breaks above the overhead trendline 15375 next?!?!
Regards,
Trendfriend

Hey - got closed out for my pub lunch but went back in when went back over 16650 so got myself another one for Friday at least

I was looking at 14000 area as a possible bottom if it kept going (not today, long term obviously)...i still fancy today as a turning point though!

Hi Ron, hope your well.

Well this really is a nasty day.....you did well to catch winning long trade!!

Any predictions where the final low will be on the dow folks??
I think eventually a move down to 10500 area is possible imho.... possibly 12000 area ....maybe soemwhere between the two numbers??
Some way to go for this down move that's for sure

Lets see,
Trendfriend.

Hey TF - was only small long at 15654, stop already moved up so no worries now.

Will continue to move stop up but I fancy the chance of a break out of the channel now. worst come to worst it's paid for a pub lunch tomorrow anyway

This is still in this channel....until it can can break above its going to keep going down imho...
16280 top of trendline hit yesterday and 15640 down trendline today. so bounce now possible...best case for bounce 15900/15950 area.(falling every 60 mins)
scalp longs ok, but could be small bounces, off the down trendline.

Best place to trade imho is short from the top of the trendline imho..
Regards,
Trendfriend.

I've had a cheeky long today, based on SPX hitting support from oct14/aug15 lows.

Dow looks like its in this channel on the hourly chart.
I'm looking to short on the top of the channel @ 16280.(if it gets to that level, trading hours only) with 30 point stop.

Regards,
Trendfriend

The chart suggests downtrend - bear market. where next????

Hourly chart below.
Looks suspiciously like a bear flag to me, and its on the verge of breaking down
Going be nasty when it does!

Updated detailed chart - dyor...
GL

Hi Everyone, Happy New Year.

A 123 scenario is likely in the short term as per the 1 hour chart. The 16591 level appears key and also coincide with 23.6 fib retracement. A break of this level should take us up alternatively more downside !
DYOR
Good luck

i was gonna short this yesterday but missed the chance
now just waiting for a better entry to short but the pre market has this coming down big time so looks like i wont get my chance to get in

This has the potential to get dumped hard imho....
15375 target atm....

You still short Monkeyz??
Reagrds,
Trendfriend.

Looks like a retest and so far failure of the trendline today.
Bears now in control imho unless this fights back.....
Regards,
Trendfriend.

Still short on the s&p so may be biased but that pin bar looks tempting!

Dow weekly.
Bang on that trendline again!!
Is that a head & shoulders top being played out??
Trendfriend.

Pretty bearish finish & candlestick today. On phone so no chart.

The daily shows a perfect trendline bounce yesterday.....so the bulls fighting back. (for now anyway)


The weekly here shows the dow is actually in a triangle atm.... and the breakout up or down will happen anytime soon imho...
I think it's going to move down....but you cannot decide....must wait for the dow and the chart to tell us...
This needs to break above the moving ave's and break up from that triangle, and onto new highs imho....if it fails to do so, just a matter of time before a massive dump...

Lets see what Aunt Janet over at the fed does, she usually saves the day....lol
In the meantime cautious traders (and wise ones) maybe should wait and hold tight, and stay on sidelines, to get some direction from the Dow...for positions on both stock and indices...jmho
Regards,
Trendfriend.

Possible 123 high formation.
This broke the 200ema on friday and now approaching the short term trendline which is also near the 123 high breakout point.If this breaks then this could really send the dow lower so caution should be advised.
Ive noticed loads of supports get broken last week on shares and nearly all of them have tumbled.I had a bad week of trades last week due to all my stops activating.
Be safe


dl.dropboxusercontent.com/u/4899609/dow13thdecember2015.png

Careful folks..... A real warning here....

The pre market price currently is bang on that trend line. So this trade will be only placed by me after the first thirty minutes of trade. If the price goes above that before then i wont place the trade.

You have to be fast with dow , The dow is good for day trades so have to be flexible to trade this.
Im gonna short the dow on the next back test of the previous uptrend line. Again using 40 points stop on a first attempt basis.


dl.dropboxusercontent.com/u/4899609/dow23rdoct2015.png

Good question Ade, The Americans are eating more Big Macs, thats what happened!!
Thats the fundamentals out of the way...
technicals now...
The Dow has broken above the 200 day moving average in some style...
Questions is will it come to test it again??
in which case we will some kind of pullback at some point...hmmm

currently 17446 so what happened?

This should be a free trade now
That was a perfect trade. currently up over 100 points in profit so this should be a free trade now..


dl.dropboxusercontent.com/u/4899609/dow22ndoct2015.png

If this hits the 200ema during market hours worth a quick short on first attempt. Im gonna use 40 point stop.


dl.dropboxusercontent.com/u/4899609/dow20thoct2015.png

The back test area on the 60 min trendline is around 17560 area as this area has also got horizontal support so better chance of resistance holding.
Id only go short from an area that has more than 1 support when trading based of 60 min chart trend lines due to volatility of the time frame for accuracy.Also you have to be watching the index closely when trading using 60 min charts.




dl.dropboxusercontent.com/u/4899609/dow60min9thoct2015.png

Andrew2013 wrote:

Hi remo

Where do you current make the back test of the trend line now on the hourly ? It must be getting close

Regards

This move up could well be the build up a even bigger fall imho...
Caution with longs, stops are a must....

17250 the area to watch
uk.advfn.com/p.php?pid=chartscreenshotsh...TaBFA=&symbol=FT^UKX

Regards,
trendfriend.

I think your right Remo, this will open below the bear flag and main trendline today on the weekly...
uk.advfn.com/p.php?pid=chartscreenshotsh...%3D&symbol=DJI^I\DJI

this looks it it wants to dump hard imho....

Reagrds,
Trendfriend.

So close yet so far , It came within 40 points of my perfect short area. dam.
I hate it when that happens and then in plummets. Typical
remo wrote:

Im gonna look to short the dow at the short zone , Back test of hourly trend line and 200ema based on hourly chart. This zone is roughly around 16615 and will change hourly.
Im expecting bigger moves down soon. I dont think the down moves are finished just yet.The move back up that we had could have been just an abc move of a correction so if that is the case then a bigger fall is coming.
I could be so wrong so take with a pinch of salt


dl.dropboxusercontent.com/u/4899609/dow21stsept2015.png

broke it's trendline with volume

www.dropbox.com/s/dfnqpyxb8uuu8ts/DJ30%2...ine%20break.png?dl=0

Yep, nice move up on markets.
Not a good idea to trade indices on Fed days due to the volatility.

Regards,
trendfriend.

finished at 16739.95

www.dropbox.com/s/qmtotfzz2xqkk41/DJ30_D...6thsept2015.png?dl=0

Can't post a chart right now but believe the Dow has just closed above point 1 on a 123 low point 3 being at 16716 from memory so more upside to come me thinks can't see fed hiking rates that will be the catalyst for a big move Up IMO

I'm seeing that we are currently above the 16670 level(8:15PM),that all important level to the upside!!!

weekly.
uk.advfn.com/p.php?pid=chartscreenshotsh...Wb+EZA=&symbol=L^PMO

Monthly.
uk.advfn.com/p.php?pid=chartscreenshotsh...kpzxIE=&symbol=L^PMO

still no weekly/monthly close below the trendline on a very long term chart.

Daily hanging around the trendline atm.....
The bias has to be long until at least a weekly close below the trendline imho...

Regards,
Trendfriend

There are bearish flag/pennants on all main US indices.

If this breaks below 16197 which is the short term trend line then this could be heading a lot lower towards the recent low at 15370 area. This is based on 60 min chart.
Im expecting a bigger move down soon . Time will tell.
so be careful out there

60 min chart

dl.dropboxusercontent.com/u/4899609/dow60min10thsept2015.png

Nice triangle formation on the 60 min chart. SO ether way could give a nice trade when the break out comes. so keep an eye on this.
So long above 16670 as that's an important level to the upside.

Looking at The Weekly Chart below

It's Nearly the end of the week & today we may end up seeing that Hammer Formed on the Weekly Time Frame near to the 200 dayMa

www.dropbox.com/s/v2b931tc8fbi8k5/DJ30%2...thAugust%20.png?dl=0

Looking at the Fibonacci retracements:-
The Low of 15370 on 24th August is around the 38%(15315) retracement from 2011 or just below the 23% Fibonacci of 15547 all the way from 2009.

now that we see a finished above the Main Trend Line, i think Looking at the 200 day Moving average is important, which is currently 17213 & is 61.% back the other way from 24thAug & do need a move above this for me to be thinking this is not a dead cat bounce!

www.dropbox.com/s/uyqk82qoiokqwnj/DJ30%2...20TrendLine.png?dl=0

What are the implications that it has "pierced" the trend line?
Can this signal more downside to come?
Likely a relief rally ?

This looks like it closed back above the trendline today...
Weekly chart...
uk.advfn.com/p.php?pid=chartscreenshotsh...symbol=DJI%5EI%5CDJI

Close up shows a nice hammer on the weekly, lets see how it closes tomoorrow... it could a sign this will move higher...
uk.advfn.com/p.php?pid=chartscreenshotsh...symbol=DJI%5EI%5CDJI
Regards,
Trendfriend.