DOW

fibs

dow - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...mCErZRWRdfC3KM158%3D

not perfectly a double top but close enough....
as they say "when you see a double top....you sell a double top"

dax - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...CukWmQ3okBH3J4b9k%3D

similar on the Dax...
certainly seems to be strong resistance above 24700.....on the Dow

atb, wdik, dyor,
trendfriend

remo wrote:

Look at the clear head and shoulders pattern forming....
One to keep an eye on...

The head and shoulders formation has been cancelled as it’s broken above the shoulder and looking to test the highs again...
The trade was valid but it moved down real quickly and then bounced just as quick...It did not manage to finish below the critical level for a few days...Thats why it’s important for a confirmation to hold..





This is starting to look bullish again and if it takes out the recent high 24904 then it’s likely to move 2000 points higher and target the 78.2 fib level...So a target to 27000.....
So one to watch for new longs above the recent high

If 61.8 fib is taken out then there is a good chance that it will recover the full 100%..
Due to all the manipulation going on it seem bear markets can be stopped...lol...
The best part is, my moderna shares seems to be the cause for the recent rally in the markets...
The charts are looking bullish again so can only go by that..,
But this market is very risky as any bad news on the virus and the down trend will resume so got to be ready for that as well...
We are not out of the woods just yet....
I’m currently long but will change to shorts if I see any weakness below 24450...

FIBS

Range Bound

dow - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...K/sSJhZAAdI/fhBeJdU=

huge bullish gap up above the 20 and 50 day ema line has really pulled the rug form under the bears feet.
this looked set for a big drop last week, but every time we get a few down days....the fed seem come in and rescue these markets!
we do have a serious disconnect between the real world and the markets imho

This being the dow...expect the unexpected and the bears should make a come back....
24764 for a double top? or a test of the 200 day ema line before a new leg lower...towards 22000.
maybe inside of this new broadening triangle?

atb, wdik, dyor,
trendfriend