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Dow Jones Chart

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How does everyone go about getting futures data? I just go on CNBC, however, I was wondering if Comsec had futures info?
 
Looking at a two year weekly chart it is clear that support at 23,500 was breached this week and the DJIA has finished just off its weekly low. Given the psychology that must be at work over Christmas and New Year, I think it's reasonable to assume that we will see further selling next week, probably bottoming out at around 22,000.

The double top formation, eight months apart, is also now very clear.

 
Here is the Russell 2000 monthly chart going back a while, given it's on an expanded base, it is significant at -26% from recent high. Dax is -22%

 
The five year tells it best, sentiment is all down. Maybe not by years end but the DOW's next support is around 1700 in my view. Not shown here yet but this months volume is higher too. Since around 1971 the Seppos have propped the markets with paper money based mainly on their command of oil. They are losing their grip and Trump in Fairyland has not a clue and is only worried about the wall.

 
Yes, missprint. Funny mistake though because if all the paper printing pump ups were removed that's about where it should be against a gold standard.
 
Interesting times for the DJIA. For the fourth time in 18 months it has risen above 26,500.

However, each of the previous three times it peaked and then declined rapidly.

Will history repeat itself once again?

 
If the Fed drops interest rates, for the first time in 10 years, will it drive investors to the DJI for a return?
Could this in turn give the Dow another leg up? If it does, it will be a pretty amazing rags to riches story, since the gfc that is one hell of a recovery.
Just shows the perks of being the reserve currency. Having said that when the bubble bursts?
 
Last edited:
greggles said:
Interesting times for the DJIA. For the fourth time in 18 months it has risen above 26,500.
Click to expand...
From a fundamental perspective my thinking is that the US market is in a topping process but then with so much central bank intervention we are indeed living in interesting times there.
 
Things certainly looking grim for the DJIA. Clear support at 25,500 but this is a news driven correction and more bad news will send it down further.

Might be a long time now until the DJIA cracks that magic 30,000 mark.

 
Anyone else think the DJIA is heading down again? That 650 point move down last night has me worried. Is reality finally setting in?

 
Boggo said:
Just lines on a chart but I find them interesting
Click to expand...

Hi Boggo,
We can make many interpretations using lines on a chart and they are all 'food for thought'. I'll put up one way of looking at it, just out of interest.

First on the weekly chart it can be seen that the DJIA has moved sideways out of a rising wedge;


Now on the daily chart I add a resistance zone from the top of the wedge;


Now I add trend lines where it broke up through the resistance zone and now has broken back down through the lower trend line and just closed below the resistance zone. It looks to be going lower. We can only wait to see what happens this week.
 
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