SPX500 Has Generated Fresh Swing Sell Signal. Expect Sell-Off of Last Week To Resume and test of Last Weeks Low
IHS in DJI 15 mins chart target could be 400 points if broken
DJI 24950 first good support posting channel
If closes below 23527 (i.e breaking the neckline), then sell, with SL: 26769, Target: 20285 Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.
Dow jones possible correction till 26150-80
This is a monthly candle chart. Applied Fibonacci levels to 2008 highs and 2009 lows. Dow Jones index tested a crucial Fibonacci level of 2.618 at 26500 in January and failed, looks like its going for a retest now. Observe the RSI divergence below Will it succeed? Depends on lot of Global factors and US elections...
Broken upward rising channel. If breaks 24848, next support around 24400. One must wait for close below 24900. in.tradingview.com
Currently at 26635 Can climb to 26744
Fibonacci retracement - now detected in DOW hourly chart.
A quick view on the levels to watch out for on the Dow in the coming week
HDFC is at very crucial level, as below this level their is no major support till 1319 , 1280, It has also formed a bearish bat pattern...
BankNifty is in Euphoria Mode, i have been bearish on banknifty since 19200 but it has rallied almost 5% since then, i still think it is Working on Greater Fool Theory, Fundamentals are still bad and it is giving some signals for weakness in technicals also, it is making Harmonic Three Drive Pattern with rising wedge, any bad news will trigger a big selloff, same...
Short term top seems to be in the offing. Whats in store in Yellens speech on Friday?