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Forecast and levels for Dow Jones Industrial Average - page 3

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Sergey Golubev
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Sergey Golubev  

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Sergey Golubev, 2017.09.18 16:32

Dow Jones Industrial Average  - All-Time Intraday Highs (based on the article)

H4 price broke Ichimoku cloud from below to above to be reversed back to the primary bullish market condition. The price crossed 22,275 resistance level for the bullish breakout to be continuing.


  • "The Dow Jones Industrial Average (22,275.02 on Sept. 15) set an all-time intraday high of 22,275.02 on Aug. 15. The weekly is positive with the average above its five-week modified moving average of 21,854.71. The 12x3x3 weekly slow stochastic reading rose to 76.31 last week, up from 74.26 on Sept. 8."
  • "Investment Strategy: Buy weakness to my quarterly value level of 20,327. My annual and semiannual pivots are 22,041 and 22,127, respectively. Sell strength to my weekly and monthly risky levels at 22,327 and 22,554, respectively."

Sergey Golubev
Moderator
100427
Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2017.10.22 07:51

Dow Jones Industrial Average - The Week Ahead (based on the article)

Daily price is above 55 SMA/200 SMA revcersal levels in the bullish area of the chart: the price is testing Fibo resistance level at 23,316 to above for the bullish trend to be continuing


  • "The Dow Industrials led the market higher last week as it was up 2% compared to a 0.86% gain in the S&P 500 and only a 0.35% gain in the Nasdaq Composite.  The small cap Russell 2000 was up 0.44%. The weekly NYSE A/D numbers were positive with 1623 stocks advancing with 1433 stocks declining. Surprisingly they were not as strong as the previous week. The monthly chart of the SPDR Dow Jones Industrial (DIA) closed at $233.13 which was well above the monthly starc+ band for October at $228.57 (point 1). Based on current data the monthly starc+ band for November is at $233.02. The monthly starc- bands have been tested or exceeded several times in the past ten years but moves above the monthly starc+ bands are more rare. In reviewing the long term chart DIA closed the month of May 2007 at $106.02, point 1, which was above the monthly starc+ band at $104.58. The monthly starc+ band was also exceeded in July 2007 before the market corrected sharply into August."
  • "What about the week ahead?  The sentiment of the financial media is too bullish for my liking as one floor trader commented that the stock market was different this time. Believe me in over 35 years this is never the case and while that does not mean the market cannot still go higher the market is likely to eventually disappoint the majority. The newsletter sentiment data from Investors Intelligence indicates there are almost four times more bulls than bears which is a historically high level. To break this down 60% are bullish with just 15.2% bearish. In 2014 when the Bull/Bear ratio was also above 4.0 the market paused for a month before it again moved higher."

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The chart was made on D1 timeframe with standard indicators of Metatrader 4 except the following indicator (free to download):



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