Dow Jones, the widely followed stock market index, has experienced a decline in recent days after a strong upside rally from October to December 2022.
Technical analysis reveals that the index has broken an important support level and is showing a bearish trend. Additionally a Harmonic bat pattern has emerged, indicating a potential minimum target of around...
Be watchful. Index is severally fall. Hourly time frame is showing mild recovery. Don't make any long position unless and until Index closed above 1794 aka 1800 level on daily closing basis.
For newbies , don't enter in the market. As, Market may not fall immediately from this level ( psychological level of 1700) and market may not sustain at higher level too....
Follow 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...
On Weekly Basis:
S&P 500 (SPY) completed its correction from 4800 to 3490 in its 5 Wave Down. Fibonacci 50% retracement from bottom 2300 to top 4800 ends at 3540, a support level. It fell 27% from top which looks quite healthy from long term point of view. Tech sector has taken a deep hit and looks like it has entered a bear market. It took a support at 3492 which...
AMD 1W TF SHORT
Formed Head and Shoulder in Weekly Time Frame,
Broken the neck line at 76$ range and retested the same.
all those are my personal views only.
Namaste!
Currently, Nifty is trading near very important levels. This was the important resistance (because of lot of consolidation happening between Jun-July 2021), which became a support after the breakout. It has been tested twice since the July breakout.
S&P 500 fell into bear market yesterday as far as daily close is considered. But, I am not convinced 100%...
RSI 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...
I am expecting a bullish movement when it breaks 166.5 levels, it need to sustain above these levels to capture bullish moment. one should go long after successful breakout.
The US VIX (volatility index) is over heated at +32 which is unusual. As the US indices have been corrected up to 20-32% from the swing high, technically it is already a crash and enter of bear market especially the technology sector, the most hit one. Next level is recession. My observation is, the increasing VIX is alarming further potential sharp correction in...
Index is unfolding as a leading diagonal of which 4th wave is already concluded and right now we are into the last stages to complete the 5th wave of this leading diagonal which will bring the index below the level of 30635 in the near term. Traders should remain short for the minimum target region of 30600-30000 in the coming weeks with stop loss of 32600.
S&P 500 is looking extremely dicey, we have formed a lower low on weekly and the drive up is most likely to trap retail traders and form a lower high. Watch how this plays out in the coming weeks.
Just when we thought the momentum died off, Snap Chat's result triggers another round of down move. The bears are back on the saddle riding the NASDAQ down down down! I wouldn't be surprised if it touched around 9k in a few weeks.
Russell 2000 We can see this has already corrected to 0.5 Fibonacci Levels, and also we can see 2 previous Highs made in 2018 and 2020, As shared in the analysis of S&P 500 previously that we could notice further breakdown but after some pullback makes more sense looking at Russell 2000's chart.
