Over the last week, the market has triggered the Bullish Weekly pinbar of the former week. Most of the stock markets have time and patience, printing creeping Daily uptrends, and the Dow was no different. Mentioned in the previous reviews, we are in a major Weekly swing bullish setup pointing at 19200 as a target. The Read More
Author: Gil Ecker
Before we get into the Weekly price action, I would like to show you a 2 year discrepancy between the DJ Industrials and the DJ Transportation indexes. From the bottom of February 2016 both made the same percentage performance, approximately (45% ~) , but the issue is with the circled behavior. First, since the last Read More
The passing week ended as a small range correction bar, the 3rd Weekly bar to penetrate the Weekly upper Bollinger band, meaning that the bullish momentum is still high, and Daily bearish setups are not recommended, such as the Daily bearish setup mentioned in the last review that hasn’t reached its target. The Daily chart Read More
Like in most of other stock markets, the passing week printed a narrow range bar for the Dow. It was a HH HL Weekly bar, totally outside the upper Bollinger band, so the bullish momentum currently is still very high. The price has reached the level of 18565 which is practically the AB=CD pattern’s target Read More
Over the passing week, the Dow, like the SP500 has made a new all time high. This current Quarterly reversal up since the Lows at the 15300 level area can be considered as Elliott Wave 5 of the whole bullish market since March 2009. On the Daily timeframe, the price is facing currently the resistance Read More
Two weeks after the Brexit pole, the market looks very strong, and currently is above the highest price prior to the pole. Taking out the High of April at 18083, only 4 points from the High of last Friday is a bullish setup to reach the 19100 level area. It is the same signal as Read More
Like other stock indexes, the Dow wasnt different in a fairly strong bullish rally after just one more bearish day of digesting the Brexit news (last Monday). The bearish setup targeted at the 16600 level area mentioned in the previous review is still valid, as long as the Quarterly High is still being respected. But, Read More
The passing week that was one of the more interesting weeks in the market for a long time, printed a big Weekly Upthrust bar by the end. That Upthrust would have been much more “severe” for the bulls had it first taken out the all time High. Since it started from within the Monthly range, Read More
The expected Weekly false thrust down mentioned in the last review didn’t prove right, as the market declined much further, closing the Weekly bar below the short term sentiment 8 EMA line, bearish. However, the market still didn’t negate the current Weekly bullish setup to reach the 18800 level area. As long as the Monthly Read More
Like the S&P Futures, the Dow futures are also in backwardation, and currently the contract for September is lower about 0.5% than the ending contract of June. Since the market is still in a backwardation, it is very hard to analyze and measure correctly the price action, as the June contract chart, the September contract Read More