Bharti Airtel has finished Wave 5 according to the Elliot Wave Theory and is poised for a correction. We're currently anticipating a strong follow-up candle to the recent Lower High (Spinning Top Candle), which could signify a trend reversal. ADDITIONALLY, ENDING DIAGONAL TRAIANGLE CAN ALSO BE SEEN.
The current market cycle looks eerily similar to the 2005 - 2010 era. Dow started going up after the last rate hike in expectation of a rate cut and eventually peaked around the time the cut started i.e. Sep 2007. Very similar behaviour is evident in current cycle where market has been rising since the last rate hike. If the Fed cut is expected in June 2024, then...
- Dow has been moving impulsively for the past months - The important outlook here is that the trend is slowing down and one rebalancing is needed - You can keep longing as long as Dow doesn't invalidate 38,900 post that you still need a confirmation - Calling the TOP out here is stupidity - follow the trend and long whenever you see deep retracements
As per chart Nasdaq showing reversal from support. It may run to test it's all time high soon.
Index has formed a terminal structure which is known as Ending diagonal. This suggests that index is likely to fall towards 16400-16000 zone in the coming weeks and months ahead.
DJI started itd new impulsive wave from 30 oct 2023 . Now its currently in its 5th wave and also from time analysis it took 18 days in 5th wave . So from time prospective DJI will continue its bull run for minimum 3 days . So apply buy on dips with SL 38200
Sell dow jones index at around 38387 with an objective of 300 pips target, It is reversing from a key registance level currently. Out Tp is around 38120.
- The US Index is currently trading on its All-Time High - From a Trade Perspective, I would like to wait and watch out what the FED delivers in the FOMC statement - The rate-cut bets are now fading away and making it look tough for traders that the FED will cut rates - Inflation is currently sitting at 3.4% - Cutting rates fundamentally doesn't look feasible...
DOW JONES US30 CMP 33980 Bullish H. pattern triggered at 32850 from there it gave fabulous rally of 1200 points++ Now if sustain above 34000 Fresh Bullish Moves possible target 34150 / 34300 / 34450++ Regards.. Keshav... 16/10/2023
Namaste! I have been pessimistic about the bull market since Oct 2022 when Dow Jones fell into bear market for the first-time (i.e. closed below 20% levels from all time highs). S&P500 has been closing below 20% bear market level in June 2022, Sep 2022 and Dec 2022 respectively. (Please read earlier article of the same name which I posted on 7 Nov 2022). There...
Namaste! US Markets substantially affect global market and their indices. There are two main indices which I track most often. DJI (Dow Jones) and SPX (S&P 500). I expect it to be in a downfall in the coming weeks/months. I follow a rule of thumb for a reversal (respecting support or resistance) is that it must close below low of the resistance testing candle...
Dow jones around 37600 240 mins time frame Ascending parallel channel breakdown big fat bearish candle formation on breakdown of channel structure.. now till the high is not crossed and sustained,, index have possibility to retrace by 50-61% of last furious rally and note one thing retracement will be sharp till it below high levels view remains valid
SNP 500 index around 4800 daily time frame Double wedge structure both wedge confluence around same resistance levels if not able to sustain at high levels and if the reversal confirmation is observed,, index might retrace by 5-7 easily
Nasdaq ixic index at 15050 Daily time frame Bearish wolf wave pattern formation on long time consideration , ascending sharp wedge on smaller time consideration Wedge is already broken and reversal from above the wolf wave resistance line is in progress,, if this wolf wave has to progress as per theory, than index might head towards levels of 13700-13500. in...
The index has been traveling in a rising channel formation for the last year. This time it reaches the top edge of the channel. If doesn't sustain the above, a downward journey is possible. We just see our risk-reward. Keeping a stop-loss of around 36400 on a closing basis for two days. or according to one's risk management. target seems 35700 or more. The setup...
- AXP is setting up for a supply reaction - It can surely retrace the whole move it created from the origin - Inefficiencies created should be filled by expansion and post that a bounce back - Do not initiate shorts from the mentioned zone like a fool without a reaction
Expected to have completed wave 5 formation and the entire impulsive rally from the low of 32332 on oct 28 is complete and expecting a 3 swing correction against this rally. So expecting a decline.
Expected to have complete wave 3 formation and expecting a decline in wave 4 before any further highs to complete wave 5.