DOW

dow- weekly.
uk.advfn.com/p.php?pid=chartscreenshotsh...OAzDu3I6IjxCygSII%3D

most of the action on dow for the last couple of weeks has been centered around the 200 day ema line on the weekly chart....always a key level imvho....
currently at 23832....

its Friday today....bulls seem determined to take control...if we are trading the chart then its important to see if we get a convincing weekly close above that level today...

with the dow nothing is certain i would not be surprised to see it fail imho...
Off course close above 823 should give us the strength for higher...towards the 200 day on the daily.

atb, wdik,dyor,
trendfriend

Libero" post=16747]I understand the markets are forward thinking - and we should always trade what we see.

I thought one of the reasons the market jumped up is because Agent Orange said he's opening up the country, alongside news of Gilead, and Roche and others too.




That agent orange is one crazy fool. I’m just shocked Americans still love him even thou it’s so dam obvious he is a serial liar and a retard who will do any thing to stay in power. He does not care about the people but himself..I think the worlds gone mad recently as we have trump in america and an equal fool with boris over here. I hear people want boris Knighted for recovering from corona, even thou he was the reason UK has the worst stats in Europe for deaths related to corona due to his herd mentality idea which in the end got him the virus.

It’s crazy people that believes in people like them that are proberbly pushing the markets higher ...lol.....but once reality sets in then it will all correct as it’s just common sence.
So in the mean time you have to trade what you see and don’t get so emotional with just one side trade (short)even thou it’s obvious.
Hope everyone is keeping well in these crazy times

I understand the markets are forward thinking - and we should always trade what we see, plus a stop loss about 50,000 billion points wide this time!

But! I reckon something is being missed / overlooked - call it a disconnect. chain links within the global supply chain is broken, not on pause; broken.

We've got a build up of serious problems (from health issues being allowed to build up and fester, to economic depressions, and debt).

I thought one of the reasons the market jumped up is because Agent Orange said he's opening up the country, alongside news of Gilead, and Roche and others too.

That being said, I learnt about a decade ago (from a guy i know here - take a bow Remo!), to trade the charts - thinking about the rest will make us go mad.


I wish everyone here good health, and let's keep these message boards going, I think it has been great during this time of isolation and crisis!

Shares of Gilead Sciences Inc soared 15% on Thursday after a media report suggested that severe COVID-19 patients were positively responding to the drugmaker's experimental treatment remdesivir.
A Chicago hospital treating COVID-19 patients with the antiviral medication as part of a trial is seeing rapid recoveries in fever and respiratory symptoms, with nearly all patients discharged in less than a week, according to medical news website STAT

This is the reason markets jumped so much...

dow - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...f4RH62QaRQAlZvXZ8%3D

That's the Dow for us!! just when you think a decent drop will happen....
up it goes....and if it gaps up above this wedge for what will be a second higher high then it really is bye bye to the bears imvho...

Looks like trumps is starting to open up the lockdown already!
i thought they were a few weeks behind us?!?

if the markets start seeing that the worst of this is over and we are past the peak...then the upside could well be strong here....we may even make new highs in a week or two!!
bonkers

atb, wdik, dyor,
trendfriend

remo wrote: Yep....gone crazy.....I had to close my shorts for a big loss....then reversed to long.....
It looks like it’s heading towards the 61.8 fib....I will look to short at that level now...and not before..,
Serious strength in the markets.......

24300 was a beauty, but you're right, this one goes to 25200 (which is 61.8 by my reckoning - happy to be corrected).

And yep Remo, it is brutal - losses are so damned hard to take - it's like pushing a rock up a mountain trying to get the cash back.

But, I'm not sure there's serious strength - i don't know that much to be fair, but this move up wasn't built on any strong foundation (apart from the Fed maybe!)