Dow Intraday charts 05/Jan - 09/Jan

tradesmart

Experienced member
1,286 22
You could be right Mom; everyone's looking for the top after such a long run up, but we might not be there yet.....

We've had a breach of the multi-month uptrend channel to the upside, so adding the channel width (600 ish) to the breakpoint (10150 ish) might give us a target of around 10750.

very approximate, and subject to chart line draughting errors.. :confused:

comments welcome..... :cheesy:
 

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ChartMan

Legendary member
5,580 46
Not really a triangle... needed to drop to support on the 6th to around 440. But I will concede that there was a similar one on the 15th - 17th.Dec .... Yesterday formed a "W" bottom, quite common, with a target of 580. Futures have been stable overnight, currently about -1 on ES.Could be an easy play today if we go through 532.
 

ChartMan

Legendary member
5,580 46
I'd go along with that, TS . My reservation is that the 1 min has just dropped to a lower channel. If it recovers that , and goes on to break 550/580, then we have a good chance.
 

Hooya

Experienced member
1,802 2
be interesting to see if spx fills this intraday gap at some stage.
Quite a noticeable one imo
 

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mombasa

Established member
561 1
was short from '64 - until it hit the 100 MA an bounced - closed for +2 :(

looks like a bull flag on 5 min chart
 

mombasa

Established member
561 1
or it could be a little bull triangle. I give up !

For what its worth - am long from 10558 - stop at 100EMA - 20
 

ChartMan

Legendary member
5,580 46
Messy, but a triangle here on 1 min? target 85 ish ?
 

mombasa

Established member
561 1
just a thought - we've now had skim's 5 elliot waves - albeit smal ones - reckon that's the top - despite all pullback targets being met and that it hasn't hit channel resistance yet?
 

Hooya

Experienced member
1,802 2
well Dow only 20 points off it high after 2 1/2 hours, not exactly
impuslive to the downside imo. So even if it does go down further first it looks corrective to me. So I expect a test of the highs
 

ChartMan

Legendary member
5,580 46
cancelled at 16:08 with the failure to follow through. Too much of this going on..... are the bulls losing it?
 
 
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