US30 Make or break levels for bulls. Trend is about to break.#US30 is at important trend line.
breakdown could lead to massive selling pressure.
DJI
DJI Range Breakdown DJI has broken down of a range consolidation and as per range the downside targets are marked on the charts.
Most of the other details are clearly marked on the charts and overall weakness is visible in post today's candle close in US Market
Previous DJI analysis are linked in related idea section
Long term view on US MarketsFollow the trend always!! The markets globally are waiting to correct or rally upside more no one knows so just stay with the smart money and follow the trend and you'll make money!
My view could be wrong but we can see the markets are in a box for weeks and more the market spents time here more stronger will the breakout be!!
I would say it will probably go down but lets seee!!!
DJI - Analysis updateDJI after giving a breakout earlier faced rejection in Pitchfork middle band and retested the counter trending. For last two weeks it was consolidating and gave a inside bar breakout in Weekly tf, currently the follow up candle so far looks good and if the momentum continues - it is possible to see a 6-8% upmove minimum in DJI from previous weekly closing .....in coming weeks.
Link to previous DJI analysis in related idea section
DJI DOW BOTTOM CONFIRMATIONDOW THEORY RULES:
1. How to Identify Significant bottom(valley)?
We need two parameters
1. Width:- Should be more than 31 days(≈ 4 weeks)
2. Depth:- Should be more than 4%, in the valley we measure Depth by looking from top to the bottom (visualizing as seeing a pool of water from the surface and measuring its depth).
AS PER DOW THEORY, NEW BOTTOM CAN BE CONFIRMED TOMORROW IN DJI IF IT SUSTAINS ABOVE 30K LEVEL, TOP IS AT 34856 UNTIL THAT IS NOT TAKEN OUT DJI IS STILL IN A DOWNTREND. BUT THE BOTTOM CREATION WILL BE A GREAT PLUS POINT FOR THE BULLS TO KEEP A SL. ONLY IF TOMORROW (WEEKLY BASIS) IT CLOSES ABOVE 30K.
US10Y - Looks like a high is completedUS10Y could be in at its peak in current wave cycle to stary a ABC correction.
RSI on daily is also showing divergence indicating topping out sign. The correction in US10 will be good for equities.
View will be invalid if the high 4.123 is broken and wave 5 might get extended.
User discretion!
Bullish Divergence in Dow Jones Industrial AverageRSI Bullish Convergence was there on weekly charts of Dow Jones only 5 times in last 20 years, which was always followed by average 15-18% market rally
similar RSI convergence is visible on weekly Dow Jones chart Right now, pre-covid highs are acting as a support
Disclaimer: Chart, data and levels for study purpose only. I am not a financial advisor. Use your intelligence before investing.