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Dow Jones 30 Index (DJI)

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#DJIUS Commerce Department showed that personal spending rebounded in August, pointing to a still resilient economy. Fed Vice Chair Lael Brainard echoed the central's bank intention to bring rates to a restrictive level even at the risk of a recession This dollar’s strength was seen across the board, with some of the most pronounced buying activity against the British pound and the euro amid growing economic and energy worries. Technically: Critical support levels for Dow is 27616 which is also a 50% retracement levels from the low it made 2 years back.
DJ:DJIShort
by CA_Chetanbhasin
DJIA in 2nd Wave Correction of C Wave Downward (Weekly)On Weekly Basis: DJIA has corrected almost 50% of its down move from 34152 to 28725. It is bear market correction, usually sharp bounces. It also has resistance of 50 DMA at 31125 which also a pivot point. DJIA fell from all time high of 36800 to 29888 which was A wave of Grand cycle and corrected 61.80% to B Grand Wave at 34152, also close to 200 DMA level of 33890. DJIA has entered into C Grand Wave which should be final capitulation phase with Sub waves of 1, 2, 3, 4, 5. In shorter frame, DJIA completed its Wave 1 from 34152 to 28725 and almost completed Wave 2 at current level of 31082. Soon it should resume sharp down movement with the target of 26441 completing its Wave 3. Warning and Disclaimer: Above prediction should not be taken as financial advise, it is a personal opinion. Consult your financial advisor. Investment is subject to market risks. Past performance is not the guarantee for future performance. It is for educational purpose only.
TVC:DJIShort
by AnkurSharda3
DJI DOW BOTTOM CONFIRMATIONDOW THEORY RULES: 1. How to Identify Significant bottom(valley)? We need two parameters 1. Width:- Should be more than 31 days(≈ 4 weeks) 2. Depth:- Should be more than 4%, in the valley we measure Depth by looking from top to the bottom (visualizing as seeing a pool of water from the surface and measuring its depth). AS PER DOW THEORY, NEW BOTTOM CAN BE CONFIRMED TOMORROW IN DJI IF IT SUSTAINS ABOVE 30K LEVEL, TOP IS AT 34856 UNTIL THAT IS NOT TAKEN OUT DJI IS STILL IN A DOWNTREND. BUT THE BOTTOM CREATION WILL BE A GREAT PLUS POINT FOR THE BULLS TO KEEP A SL. ONLY IF TOMORROW (WEEKLY BASIS) IT CLOSES ABOVE 30K.
TVC:DJI
by iktisabrehman