Any downward correction may just be position adjustments by institutional as the end of the 3rd quarter comes to an end and the next opening of the 4th quarter is expected. For now we'll make a fearless forecast that the DOW will be near the 19k -20k range by the end of the 4th quarter 2016. As the resiliency holds well with a three point trend line support, unless proven otherwise. but only after the fact. The Right side of the market remains well within the a reinforced trend for sometime now from every consolidation period described on the chart.
Cloud Chart on the DOW Jones Industrial Average
https://www.tradingview.com/x/GsmaFv61/
The price movement on the DOW today's price recovery back to 18325 with a high at 18345, speaks for itself as the market pays close attention to DB's price levels. The irony of it all is the fact that it's comparison to Twitter's stock levels. Well for now that remains to be a factual figure.
ReplyDeleteAt the present rate as early as the end of the quarter period a developing divergent trend between US, European between Asia market would emerge by the mid-point of the end of the first quarter 2017 if economic fundamentals would not change in some Asian countries agenda. The eventual disconnect to Asia may leave the region vulnerable in sustaining growth as foreign policy on trade may well be disrupted in a not so good relevance in today's forecast.
ReplyDeleteThis has been a defined pattern! With prices declining can be viewed as a correction. A few prominent fund managers who doubled down against the DOW maybe rethinking their positions. Let's see who blinks again this time!
ReplyDeleteOur Sept 30, 2016 Market Call has been consistent so far in spite of the declines that the #Dow has made. As of Nov 08, 2016 update the DOW is trading @18316 levels well within its original trend heading North of the chart after the recent pullback that saw a 17994 low at the end of Nov 04, 2016 week's trading.
ReplyDeleteA few known market players who has doubled down on equities which we will no longer mention is again in hot waters as both the #SP500 & #DOW are well into a strong 2nd week start on election day. Here is an update as of Nov 08, 2016 on the DJIA
https://www.tradingview.com/x/kQuM1Lcl/
Allow the market to judge our fearless forecast & Market / Price Call dated Sept 30, 2016 by the time the price levels on the DOW marks it price point nearest the 19k -to-20k objective!
ReplyDeletehttps://megatrade101.blogspot.com/2016/09/consolidation-pattern-within.html
As the DOW JONES Industrial Average prices have been traded twice above the previous day's close, it is now safe to claim that the analysis is CONFIRMED & VALIDATED from our MARKET / PRICE CALL dated SEPT 30, 2016. Please refer to insight above stated.
ReplyDeleteDow Marks Record Levels, But who's Counting?
ReplyDeletehttps://megatrade101.blogspot.com/2016/12/dow-marks-record-levels-but-whos.html
#DOW 20000 Finally Arrives. Not necessarily is a Silver Platter. TRUST, CONFIDENCE & CONVICTION.... PATIENCE IS KEY!
ReplyDeleteSP500 reached 2300 as of Jan 26, 2017, while NASDAQ futures holds above 5000 making all major indices aligned. Now a good follow-though on these major indices warrants a full blown market. Its completion would depend of the run and extensions aimed after setting newer highs moving forward.