DOW

thanks Inside...corrected now

It looks like the chart you posted is for DISH and not the DOWJ

dow - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...PPVd+0LwHi+5r4XFzbI=

not a perfect touch and move down from the 200 day ema line...but a clear rejection....so far anyway...

lets see how it closes today

atb. wdik, dyor,
trendfriend

As the first move up was looking rather obvious in terms of wave count, then current structure is unclear for me, I can not recognize the degree of this move, my proposed structure is like on the chart below, but it can be also wave 1 of 3, only time will tell i suspect.


There are voices saying its only going up so the rich can get out before another move down. A lot of sources are now turned bullish on indices, and we could speculate it could indicate this is about to turn. Another thing on my mind is telling me, that the move from 2009 was grand cycle wave 1 of 3 and we now starting wave 3 of 3 of the same grand cycle.Another idea is that its going up so the next move down even if go 30%, it won't look so savage on the chart. Also in terms of time, wave 2 of grand cycle which lasted 9years(2000-2009) and wave 4(proposed now by ewt should take similar time, so in this situation for next several years we should expect rather sideways move then resuming trend up. Some people saying about big triangle?.Just my thoughts, pls dyor

have to agree with your take below Libero....
The lows are now a distant memory....the only way we may those numbers again is we have some kind of serious second wave of the virus....hopefully we don't.....

in the mean time a 10% or so p/b on profit taking after a strong rally looks more likely?

as i type this to me imvho looks set for a decent dump going into the last hour....which is relief for my (underwater)short

atb
trendfriend

you're tempting me to quit the sunshine (and work), and join you on the trading floor TF!

I'm just going to watch for now, but I wonder, with this much liquidity (the Fed and market) I can't see the market re-testing the march lows.

Oh, I still think (on balance), we'll get a nice pull-back, and some stocks - some- will fall again, and hard, but the "lows" index wise have probably arrived for now. (remember, i'm a rookie - I'm a casual trader, not an elite etc...)

The liquidity vs solvency argument is an idealistic one, and not may folks are interested in that (with much regret).

The market is getting a pass right now, poor earnings, poor accounting, poor GDP, high jobless count, more defaults, more people dying even - the market just keeps on going up. However, much in the same way we have decent pull-backs, in 2011, 2016, 2018 etc... we'll get one again before the year is out I reckon. The Dow may fall to that 22-handle you mentioned in your recent chart.


Personally, in light of poor bond returns, poor savings, and a mistrust of individual stocks, I'm only ever likely to trade indices to try to beat inflation.

Wishing you all the best of luck - and good health above all else.