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Dow Jones Wave Analysis 9 December 2024 - Dow Jones reversed from resistance area - Likely to fall to support level 44300.00 Dow Jones index previously reversed down from the resistance area between the resistance level 45000.00 (which has been reversing the index from the end of November), resistance trendline of the daily up channel from August and the upper daily Bollinger Band. The downward reversal from this resistance zone started the active minor correction iv of the higher impulse wave 5 from last month. Given the overbought daily Stochastic, Dow Jones index can be expected to fall toward the next support level 44300.00 (former resistance which stopped wave i at the start of November).
CFI:US30Short
by FxProGlobal
Dow Jones reaching 44k zone again, bearish movements after NFPDuring last month the index reached 7% increase in price but now is waiting for the CPI data on Wednesday and FED decision in the following days. The price is now neutral around the 44k zone but the bullish tendency is strong as for now. Main resistance is the 44k zone, upward movements can enhance the actual tendency. Main Support is 43k and 41k zones. Any movements below the 41k could endanger the actual tendency on the chart. There is also a bearish divergence between movements in price and movements in RSI. This signals losing of price momentum and probably can warn about corrections in price. Following this, we have to wait for the new fiscal policies of United States.
FOREXCOM:US30
by jepinedac
DJI Is Bearish! Sell! Please, check our technical outlook for DJI. Time Frame: 9h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is on a crucial zone of supply 44,642.75. The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 43,791.11 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
TVC:DJIShort
by SignalProvider
1
US30 Bullish Swing Setup Using Market Breadth EMA AlignmentKey Observations ✅ Support at Key Levels: The price has approached the lower Bollinger Band (~44,579), a zone that historically attracts buyers. This area often signals oversold conditions and potential for a reversal. ✅ Market Breadth Confirmation: Our proprietary Market Breadth EMA Alignment tool shows a stable bullish breadth value of 10 stocks, with bearish breadth limited to 5 stocks, suggesting that bullish momentum may resume soon. ✅ Candlestick Support Formation: Recent candlesticks near the lower Bollinger Band indicate rejection of further downside, forming a potential support base for a short-term reversal. Swing Trade Setup Entry Plan: Aggressive Entry: Enter near the lower Bollinger Band (~44,579) with tight risk management. Conservative Entry: Enter long on a confirmed close above the mid-Bollinger Band (~44,634) for additional confirmation. Profit Targets: Target 1 (T1): Mid-Bollinger Band (~44,634). Target 2 (T2): Upper Bollinger Band (~45,034). Indicator Insight This analysis uses the Market Breadth EMA Alignment tool to quantify bullish and bearish momentum across US30 components. By observing the alignment of bullish versus bearish stocks, traders gain additional insight into market sentiment. Risk Disclaimer: ⚠️ This publication is for informational purposes only and does not constitute financial advice. Past performance is not indicative of future results. Always trade responsibly and use appropriate risk management techniques. Access to the Script: This idea incorporates an invite-only script. If you’d like to learn more about the script’s functionality or request access, please message me directly.
TVC:DJILong
by Investic_analytics
1-hr US30: Slowed Upward Momentum Might Attract SellersFor the past couple of weeks the 45 000 level in the US30 has acted as resistance and since last week we registered a 400 point drop in the index. It is only normal to see a pullback after a massive bull rally, as many of the early buyers are selling to take profit. The strong bearish momentum, which currently dominates Dow Jones, is also confirmed by the Death Cross - a classic sell signal. A potential issue for short sellers however, is the rather low value of the RSI. This, added to the 400 point recent drop, might attract short term traders, who will want to "buy the dip". We would prefer to enter a sell, only after the value increases slightly, so we can achieve a better risk to reward. Looking at the current price action, the critical 50% Fibonacci retracement level seems like a possible resistance area, from where the US30 might continue to correct south. This zone corresponds to 44 800, or 200 points above the current market value.
CAPITALCOM:US30Short
by Trendsharks
US30 H4The S&P 500 and the Nasdaq Composite closed at all-time highs Friday as official data showed the economy added more jobs than projected in November. The technology-heavy Nasdaq rose 0.8% to 19,859.8, while the S&P 500 gained 0.3% to 6,090.3. The Dow Jones Industrial Average fell 0.3% to 44,642.5. Consumer discretionary led the gainers among sectors, while energy saw the biggest drop. For the week, the Nasdaq jumped 3.3%, while the S&P 500 increased 1%. The Dow dropped 0.6% In economic news, total nonfarm payrolls in the US climbed by 227,000 last month, the Bureau of Labor Statistics reported. The consensus was for a 220,000 increase, according to a survey compiled by Bloomberg. The unemployment rate rose to 4.2% from October's 4.1%, which was the market view for last month.
BLACKBULL:US30Long
by dipen228
US30 Bearish Reversal Signals Looming?The Dow Jones Industrial Average (US30) may be setting up for a potential pullback, as technical indicators signal weakening momentum. Key Observations: - The price has approached the upper Bollinger Band resistance (marked by circles in the chart). Historically, such instances often coincide with price corrections or consolidation phases. - Recent candles indicate hesitation, with bearish pressure emerging near critical resistance levels. Indicator Confirmation: - The Market Breadth EMA20 has dropped below 20, reflecting reduced market participation and signaling potential waning bullish momentum. - The Dow's failure to sustain above the upper Bollinger Band, coupled with rejection candles, strengthens the case for a reversal. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage risks effectively.
BLACKBULL:US30Short
by Investic_analytics
DJIA H4 | Approaching overlap supportDJIA (US30) is falling towards an overlap support and could potentially bounce off this level to climb higher. Buy entry is at 44,527.74 which is an overlap support that aligns with the 23.6% Fibonacci retracement level. Stop loss is at 43,710.00 which is a level that lies underneath a pullback support and the 61.8% Fibonacci retracement level. Take profit is at 45,542.92 which is a level that aligns with the 161.8% Fibonacci extension level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:US30Long
by FXCM
1
Reducing riskiness works in favor of stock indicesIn the recent four-hour chart of the Dow Jones Industrial Average (DJIA), the price is moving in a clear ascending channel. This movement shows that the market continues its upward trend. Currently, the price of the Dow Jones is above the support level of $44,534. This support level is very important to continue the upward movement. If the price manages to maintain this level and continue to move above it, we can expect the price to increase and reach higher resistance levels. As long as the price remains above the $44,534 support, the next resistance target will be $45,949. Technically, this resistance level is a key target for the continuation of the upward trend, and if the price reaches it and does not cross it, it can start a new wave of buying and increasing the price. Also, considering the strength of the upward trend and the position of the price inside the channel, this resistance target is considered as a sign of market strength, and its achievement can be an important milestone in the next movement of the market.
BLACKBULL:US30Long
by arongroups
1
The 45,000 level is acting as a roadblockGood day to all, Recent market movements in the DOW and SPY have demonstrated a sharp upward trend without any significant pullbacks. This deviation from typical market behavior suggests the possibility of artificial manipulation rather than organic growth. One major contributing factor appears to be the Federal Reserve's aggressive rate-cutting policies. By lowering interest rates, the Fed has incentivized borrowing and increased liquidity in the market, creating upward pressure on asset prices. While this move may have been aimed at stimulating economic activity, it has also introduced distortions, pushing equities higher at an unsustainable pace. This type of rally, driven more by monetary policy than by strong economic fundamentals or corporate performance, increases the risk of a sudden correction. A lack of major pullbacks could indicate overextended positions in the market, as investors chase the momentum fueled by easy money conditions. In light of this, my strategy is to remain cautious and focus on identifying potential reversal points. With the DOW and SPY showing signs of being overbought, I'll monitor key technical indicators and macroeconomic data for signals of a potential correction or trend reversal. The Fed’s policy shift highlights the importance of aligning my trades with broader economic factors. This environment underlines the need for discipline in risk management, as artificially driven rallies can be unpredictable and volatile. PEPPERSTONE:US30 NYSE:DOW
PEPPERSTONE:US30Short
by GoldenEdge
DOW JONES (1h) Death Cross turning into a buy signal soon.Dow Jones is trading inside a Channel Up that is long term supported by the MA50 (1d). On Monday we will see a Death Cross (1h), which inside the Channel Up has been usually formed halfway through a Channel Down/bearish leg that forms the new Low. Trading Plan: 1. Buy by next Wendesday the latest. Targets: 1. 46000 (under a +8.31% rise from the last Low, which is where the October 18th High was priced). Tips: 1. The RSI (4h) tends to form a bottom when it hits 30.00 (oversold limit). Be ready to buy if it hits that level earlier than next Wednesday. Please like, follow and comment!! Notes: Past trading plan:
CAPITALCOM:US30Long
by TradingBrokersView
US30 - 12-6-24 - After NY Opening Key Levels of Interest Support and Resistance: - Support Zone: - Strong support is around 44,582, marked as a significant horizontal zone where the price has bounced before. - Resistance Zone: - Resistance lies around 44,950–45,102. This is a cluster of higher Fibonacci retracement levels (78.6% and 100%) where price previously reversed. Fibonacci Retracement Analysis The Fibonacci retracement levels shown on the chart are key areas to watch: - 38.2% (44,730.28): Minor pullback level, suggesting weak bullish strength if the price fails to hold above it. - 61.8% (44,866.50): The "golden ratio" zone often acts as strong resistance if tested after a downtrend. Watch for rejection or breakout here. -100% (45,102.81): Full retracement level, marking a potential reversal or continuation zone. RSI Insights - RSI is near the 40-50 range, indicating neutral to slightly bearish momentum. - Bearish Momentum: If RSI drops below 30, it signals oversold conditions and could align with a bounce near support. -Bullish Momentum: If RSI climbs above 50, this could confirm upward momentum. MACD (Lower Indicator) - The MACD lines are diverging downward, indicating bearish momentum. - If the histogram begins contracting or the MACD lines cross upwards, it could signal a bullish reversal. Moving Averages - The yellow moving average (likely an EMA) is currently sloping downward, showing short-term bearish sentiment. - Price action is below the moving average, reinforcing bearish bias unless a breakout occurs above it. Tips for the Next Hour - Volume: Watch for increasing volume at key levels (support or resistance) to confirm direction. - Wait for Confirmation: Don’t enter prematurely; look for a candle close above/below key levels. - Lower Timeframes: Monitor smaller timeframes (5-min or 15-min) for quicker signals in alignment with the hourly trend. Potential Scenarios. Define Your Entry, Stop-Loss, and Target Levels Using the analysis provided: Bullish Scenario: Entry Price: ~44,866.50 (breakout above 61.8% Fibonacci level) Target: ~45,100 (next resistance zone based on 100% Fibonacci level) Stop-Loss: ~44,730 (below 38.2% Fibonacci level, to protect against false breakouts) Bearish Scenario: Entry Price: ~44,582 (breakout below support zone) Target: ~44,400 (next support zone below) Stop-Loss: ~44,730 (above the 38.2% Fib retracement to avoid being caught in a pullback) Recommendations: Take Trades with an R:R > 1.5:1: The bullish scenario (1.7:1) is more attractive than the bearish (1.2:1). Risk 1-2% of Your Account: Start with 1% if you’re unsure or scaling into a position. Adjust Position Size: Make sure your position size aligns with your calculated risk.
EIGHTCAP:US30
by Nozuk
1
Us30 06DEC24 pasOn Friday November 22nd the market reacted to a 1D fvg; which is the bullish narrative i wanted to see in order to confirm my bullish directional bias. I also applied Fibonacci to the fvg to locate a few long term price targets. Now, all that was required of me was to identify an ideal entry point which was offered today as an order block on the 2H timeframe. I applied fibonacci to the structure it was found in. And clear as day the 79% discount level was aligned with the opening of the Ob. The market reacted to it beautifully as anticipated today
BLACKBULL:US30Long
by Clear_mind_
1