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Dow Jones Industrial Index Technical Study TVC:DJI Analysis After 9th Dec 2022 Closing > Dow Theory wise - It was Making HH &HL but After Last day of closing, it seems like there will be no another HH Furthermore in Weekly TF it has made Evening Star pattern also. (Bearish) > Wave Count wise - 5th Impulse wave is also finished, so probably corrective wave ABC might be possible for next week for DJI. (Bearish) >Chart Pattern Wise - Head & Shoulder pattern is about to formed, confirmation after breakdown of neckline shown in chart. (Bearish) Bearish Divergence is also there in MACD and RSI too. Furthermore, According to chart, just below neckline there is crucial red line, breakdown of that line red line is confirmation for all the above points. Medium Term Target is end of 4th Impulse wave because of Depth off Correction Concept. What if Analysis Ignore this study, if on next trading day market opened with huge GAPUP and gone up.
TVC:DJIShort
by KRSCharts
DJIA- Breakdown witnessed below 32500DJIA Breakdown has been witnessed on DJIA Our Dynamic Trend Averages - Orange and Green showing down trend as Orange < Green Our Lagging Trend Averages - Blue and Red showing down trend as blue < green Breakdown below 32500 has been witnessed. RSI is below 50 since 16 Feb 2023 closing of 33696 and since then RSI is below 50. RSI is now at 31.25 and DJIA at 31909. RSI trend is up if RSI is above 50 and RSI trend is down when RSI is below 50. RSI down trend has yield a down move from 33696 to 31909. The 50% retracement as shown is at 31706 and 61.8% is at 31000. RSI to be become oversold is very near and may test 50% and 61.8% retracement could be the point for bounce or swing bottom to be confirmed later by swing bottom formation What is Swing Bottom L > L-1 and H > H-1 and C > C-1 and C > open and H-1< H-2 and L-1 < L-2 and C-1< C-2 Volume need to get higher of the recent day if swing bottom in formed post RSI oversold or from either of the levels of 50% or 61.8%. The breakdown effect can be to 30782 which is 100% from the breakdown point of the rise 32581 to 34342. The difference from the breadown point to give the expect level of 30782. Pullback if happens can get resistance at 32500 or above with probablility of lower top. The last major lower top is 33572. Any pullback will be of the fall from 33572 for pullback First we have to witnessed swing bottom either by hitting oversol or by hitting retracement levels.
DJ:DJI
by hitendravasudeo
dow jonesFor those who think we are in a BEAR MARKET....... Think again. Price has been consolidating for the past 4 months above the Green TREND LINE as marked. As Long as this Trend Line holds..... we are Going to the MOON with time. If you Look at all the previous charts I had posted..... In Nov/Dec I warned you all that we will go UP no further.... that Bank Nifty and Nifty would fall. Have a Look at those charts and you will know that my markings were spot on. I warned that the METAL SECTOR would fall. We went up in the Metal space for precisely 10 days.... and since we have been falling. I had catagorically said.... these are weekly/ Monthly charts and will NOT play out in a day or two.
DJ:DJILong
by deepgups
5th weekly failure to close above 34k for DOW!Its been 4 weeks, where DOW has failed to give a close above 34000 levels. With flux on inflation numbers coming in recently, it seems to be a clear mandate that FED is not turning dovish anytime soon. Moreover they have suggested that there might not be any rate cuts in the scene until end of 2024! This sends shivers up my spine and makes me wonder where are we headed towards. Jobless claim numbers, inflation data all point to a hawkish stance from FED. With 2Y-10Y yields being inverted for more than 270 days now, it will be astonishing to see what the future for equity markets hold. From what it appears, I can't rule down a deep crash coming in 2-3 months which would push the US economy into recession and that would give FED an ample amount of PROOF that the labor market is slowing down for real and the inflation numbers are well under their grip. With such kind of situation looming I am extremely cautious towards any fresh investments in equities in Indian markets( I am an Indian markets trader and an investor). For the time being I have parked my capital in FIXED Income schemes present in market which include Fixed deposits and Gov T Bills. Waiting for the clouds to clear so that I can clearly understand where the market is headed towards. But this is for certain that such major rejections are not a good time for the foreseeable future. Would request everyone to be ultra cautious for any fresh new investments in the markets. With such high yields, IT company layoffs, labor market not loosing its steam, US fed's hawkish stance and the yield curve inversion, all seem to point out to a fact that equity markets, sooner or later will be witnessing a sharp correction, only question that needs to be answered now is WHEN ? in.tradingview.com
DJ:DJI
by TanmayAggarwal
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