DOW

After briefly breaking out. of the wedge to the downside it’s not done it to the upside.....wondering if the market is expecting more financial stimulus due to what look like they will be couple of horrid months covid wise in the US but going to be sitting on my hands for a while with the DOW as seem to have been wrong about every move the last couple of months!

So....firstly Happy new Year
The Dow gas continues. It is retesting various levels and looking at them price action does not want to go down.

Back to the basics the charts points towards and up trend- with loads of buying at the pull backs.

I thought 30000 was high now it seems to be heading towards 31k. Mental.

Retested the breakdown point around 30000, taken a small short, 200pt stop.

Rising wedge has broken down. RSI divergence for a while, could the top be in? Possible pull back to 25k area

I have so far used the 4 hour charts for direction. Yesterday the long term trend line I thought was broken. I am watching the price action closely but as indicated in the posts below I can see some negative divergences forming and lower highs and lower lows . Time to watch closely

Hi SE and all....

Yes this does have the negative RSI div hanging over it....unfortunately you cannot use one indicator in isolation....its got to combined with other bearish indicators or set ups....and i don't see them right now...

it did look like the market would come off again....with a lower ow in late Oct....but then the vaccine news plugged the rug from under the bears feet....

The markets currently have lots of headwinds....but in bull markets they just get brushed aside...

Can these markets tumble??.....yes
is there a big bubble and top building??......yes

Question is when?
this is just going to keep pumping imvho....someone i follow is suggesting 2023 for the next bear market/phase....

with only corrections along the way...

lets see...
atb, wdik,dyor,
trendfriend