Dow is in distribution phase. Upward trend line has been broken. RSI shows negative divergence. As per Dow's theory, line indicates movement. Dow forming a line indicates a big movement is coming soon. Longer the line formation faster the movement. in.tradingview.com
Barron magazine recently published an article stating Dow @20000 & beyond, that is first warning sign that Top is near. Also notice momentum is fading (ROC) did not respond by making new high while Dow made new high. So going short looks very attractive here.
MACD SELL HAS BEEN ACTIVATED RSI HAS BEEN OVER VALUED IT WILL FALL DOWN OVER A PERIOD OR OF A WEEK OR SO.
Will Dow Jones witness short term reversal? *Marubozu Candlestick * Overbought RSI
hey guys i guess dow jones is going to fall because it has been over valued due to rsi abhishek
We have bearish Butterfly on DJIA weekly chart. Currently we are in D leg. We need to confirm reversal as Bearish Butterfly D leg can get extended too long. If the pattern is correct big volatility in global market is coming. It's just the matter of few week(s) !
Dowjones Neutral View till we get a clobe above or below trendline
Short term top seems to be in the offing. Whats in store in Yellens speech on Friday?