Dow Jones technical analysis

[WaveSurfer]

Re: DOW Analysis

Check this yearly chart of the DOW. I'm not a head and shoulders type of guy myself. But holy bajeezers batman if this one plays out.....

Bets anyone?

 

[Uncle Festivus]

Re: DOW Analysis

i hope this is the correct place to post this......as kennas gets his jollies giving me an infraction for not getting it perfect......its not the infraction that worries me...its kennas getting some jollies....lol

morning kennas..

here goes.

go to link and look at the chart. i cant copy the graph as the site doesnt allow it. it is a damning chart of market manipulation.



go to link to see charts.

http://seekingalpha.com/article/172609-who-is-the-mystery-buyer

The mystery buyer is no doubt the US Fed, or at least one of it's banking 'affiliates'?

Still going on today by the looks of it - market rises on little more than rhetoric & hope apparently?

October 4 was the make or break day for the Dow, and by extension the rest of the world perhaps. If the Fed hadn't intervened then who knows where it would have stopped. As it is, they have given themselves a 1000 point buffer for when the next dose of economic reality arrives. Not that that will be the 'big one' - when the US realises that they too will have to embark on an austerity program perhaps worse than some of the Euro countries are facing it will probably be too late anyway.

Still, trade it as it presents, so looking to have resistance around 11600's & support at 11400 for now, with 'capitulation' support at 10600?

 

[stockGURU]

Dow Jones (DJIA) technical analysis

I searched for a thread on this topic and, noticing there wasn't one, decided to start one myself hoping that it will generate some discussion.

I am attaching a chart of the DJIA from January 20, 2009 (the day Barack Obama took office) to today.

I'm not a TA expert but there are two very clear observations to be made from this chart:

1. For the last three years, the DJIA has been in a fairly consistent uptrend.
2. Volume seems to be decreasing.

I'm not sure what the significance of point #2 might be.

I would be interested in any technical analysis of the Dow Jones from others. Feel free to contribute your own analysis/observations.

 

[joea]

Re: Dow Jones (DJIA) technical analysis

Try "DOW" in advanced search, click icon.
joea

 

[professor_frink]

Re: Dow Jones (DJIA) technical analysis

2. Volume seems to be decreasing.

I'm not sure what the significance of point #2 might be.

There is none.

The increased volume went hand in hand with the preceeding bear market. It was never going to stay at that level forever.

 

[Porper]

This is the Dow Jones monthly chart.

Interesting that the declines between 1966 - 1974 & 2000 - 2008 are very similar both in terms of price and time.

Both expanded flat corrections. Price also breaking higher in an impulsive fashion rfom the most recent low...at least thus far.

 

[Porper]

The Dow Jones appears to be making a running or expanded flat pattern. The chart is self explanatory. Room for further downiside but very bullish longer term.

 

[Boggo]

The Dow Jones appears to be making a running or expanded flat pattern. The chart is self explanatory. Room for further downiside but very bullish longer term.

Isn't that the chart that Nick Radge posted on Facebook on Saturday ?

 

[Porper]

Isn't that the chart that Nick Radge posted on Facebook on Saturday ?

Hi Boggo, yes it is. I know Nick well and was happy for him to put the chart on Facebook.

 

[Boggo]

Hi Boggo, yes it is. I know Nick well and was happy for him to put the chart on Facebook.

Cheers Porper, just thought looked similiar from memory.

 

[sreeve]

Quartlerly-candle chart of the S&P500.

Distinct triple top has formed.

Proceed with caution...

~ Scott

 

[CanOz]

Quartlerly-candle chart of the S&P500.

Distinct triple top has formed.

Proceed with caution...

~ Scott

This is a bit confusing, sould be in the S&P 500 thread and the level is 1500.

This thread is for DJIA analysis.

On a mobile device, but will check later if has been moved and corrected.

CanOz

 

[nysefloortrader]

This is a bit confusing, sould be in the S&P 500 thread and the level is 1500.

This thread is for DJIA analysis.

On a mobile device, but will check later if has been moved and corrected.

CanOz

I love that chart, but it seems like everyone now at their blog and newsletter is looking at that chart. Hmmmm.

 

[Ann]

...and now back to the DOW! This is the end of month monthly chart for the DOW.
There is a long term overhead rising resistance line coming from December 1999 which may cause a retracement as the DOW reaches to touch it. I am wondering if it is already enough for a full retracement or if it will take another month of rises before it touches resistance and then the retracement.

 

[Ann]

I am not an Elliott Wave officiando, in fact I can rarely see what Elliott Wavers are seeing. This time it is different. I can see a very distinct Elliott Wave on the Dow. In fact it looks like the perfect textbook example. Let's see what happens. I may need to re-think Elliott Wave patterns.

 

[chrislp]

I am not an Elliott Wave officiando, in fact I can rarely see what Elliott Wavers are seeing. This time it is different. I can see a very distinct Elliott Wave on the Dow. In fact it looks like the perfect textbook example. Let's see what happens. I may need to re-think Elliott Wave patterns.

That's not textbook. You have broken two rules by looking at your labelling.

Wave 3 cannot be the shortest wave & wave 4 cannot go below the high of wave 1.

 

[Porper]

That's not textbook. You have broken two rules by looking at your labelling.

Wave 3 cannot be the shortest wave & wave 4 cannot go below the high of wave 1.

Absolutely correct...that wave count is totally incorrect and doesn't resemble Elliott Wave in any way. A triangle in that position has to be corrective, labelled a-b-c-d-e.

 

[Ann]

That's not textbook. You have broken two rules by looking at your labelling.

Wave 3 cannot be the shortest wave & wave 4 cannot go below the high of wave 1.

Hi Chrislp

So very simple to understand! Thank you! None so blind. OK, reopens book 'Elliot Wave Priciple' by Frost and Prechter and looks at it properly this time!

Pg 23 Looks at 'Motive' (Numbered Phase) OK, sees higher highs, higher lows which reaches its pinacle at Wave5. Then I look at the 'Corrective' (Lettered Phase) Wave A falls to slightly below Wave 3 Wave B rises above Wave 3 and Wave C falls to around the same level as Wave 4.

I will redraw my chart with a proper hypothetical Elliott Wave correction (without suggesting it is an Elliott Wave).

Absolutely correct...that wave count is totally incorrect and doesn't resemble Elliott Wave in any way. A triangle in that position has to be corrective, labelled a-b-c-d-e.

Hi Porper,

Let me work with the 'broad concept' of 1,2,3,4,5,A,B,C as written in the above book before I move on to the subtleties of the rest of the alphabet!

 

[Porper]

Hi Porper,

Let me work with the 'broad concept' of 1,2,3,4,5,A,B,C as written in the above book before I move on to the subtleties of the rest of the alphabet!

Just remember simple is best with the Wave Theory. 5-waves up followed by 3-waves down. Triangles should contain 5-internal swings labelled a-e. Ignore complex corrections as they provide little insight as to what is to come.

 

[Ann]

That's not textbook. You have broken two rules by looking at your labelling.

Wave 3 cannot be the shortest wave & wave 4 cannot go below the high of wave 1.

How is this chart Chrislp? Not suggesting it is an Elliot Wave as it stands, simply asking if it had mirrored what I have drawn now would that satify as being an Elliott Wave pattern?