Dow Intraday Charts 22 Mar - 26 Mar

[ChartMan]

New week.
Big drop over the weekend, looking now at 30 PD and Vol div on ES for a long...

 

[tradesmart]

Going back to 15/12, there was a strong upside reversal around 10025 ish, so a number to watch imho.......

 

[mombasa]

i'm just wary of going long today despite divergence - unless u have time and spce for a quick trigger finger.

 

[mombasa]

mind u, this cld be a potential inv h&s

massive divergence on 60 min too

 

[tradesmart]

A nice bounce off the 61.8% fib retracement of the big 9580 – 10760 move at 10032 ish........

Will be watching to see if a bottom pattern develops above this level to provide a possible bounce up to the 100ma as shown in this timeframe……...

 

[bracke]

Now that the dow has broken below 10,100 is this likely to be the new resistance level if it closes below 10.100, if so , will the tradimg range now be 10,000 - 10,100

Regards

bracke

 

[anmolway]

Triangle on the 1min with a target of about 30 points from breakout, but which way??

 

[mombasa]

Chaps, am looking to go long at close and holding overnight based on following :

- RSI div on daily charts
- RSI div on 10 min
- divergence between 60 min and 20 EMA is to big - price should move to close the gap a bit.

But, it could all change in the next hour.

 

[tradesmart]

Mom – same thoughts as myself – a bit wary about the futs tho’ – when the market is depressed they often do their own thing and tank overnight; possibly taking out your stop, even thought the cash has closed pointing up…….

Just one angle I’m taking into account….(but good luck anyway……! )

 

[mombasa]

TS - thx - will bear that in mind.

 

[fazalv]

I am with you on this one momb...

RSI PD and bull flag on 10 min and a 123 setup.

 

[ChartMan]

Up to 200 for an H&S? A mini down channel? Either way, the concensus is up on divergence although the average is around 3 days for a divergence to take effect . So Wednesday with sideways tomorrow?

 

[ChartMan]

Middle of the road divergence coming good after 45 mins. No usual Vol div on ES, so a bit hit and miss, but failing to make 32 did help. Uneventful day generally, save the huge vol spike on ES at 19:08 to confirm a bottom. Not that there was much reward to follow as the price kept banging at 64... Could be a triangle with 100 target as the price closed on 64 having tried to break out.

 

[mombasa]

tri on 10 min.

which way is it gonna break?

RSi divergence on daily and 60min makes me think up so may chance anothe long overnight.

 

[anmolway]

maybe also inverse h& S on 10min and bear flag channel

 

[bgold]

Indeed H&S but not reverse! Clear on the 1min DOW targetting at least 10070 (reached as I write this). Also noticeable ES and NQ failed to make new HH's.

It took a while before ND's in indicators confirmed topping process. Curious to see where this ends. I read some Elliott wave comments that the final 5th leg down of highs in DOW is projected at ~9945

 

[bgold]

Was this slide just end of day professionals cleaning up and will this show up as a blip on the 10min chart or is it something more serious?

 

[tradesmart]

Yet another triangle as Mom says, and in the construction it produced some clear tradeable signals on the 1 & 5min charts today……..

Triangles on the COMPX and SPX as well…….!

I’m inclined to suspect that the Dow would like to test 230 soon, but that said in the knowledge that the futs are now dropping below the close price, and that it hasn’t given 10010 a second test……..

 

[tradesmart]

We're around the 23.6% fib retracement point of the 1 year bull run now, and I note that the 38.2% point coincides with the 100ma in this timeframe........

(not that I'm drawing any conclusions from this...honest....! )

edit - the 'top' that we've just had at 10750 ish is noticeably broader and drawn out compared to the others in recent years..........any significance I wonder....?!?

 

[ChartMan]

Assuming the channel is right, it failed to make resistance today, so that could mean down... On the other hand, the recent div. low produced a drop through on RSI support before taking off. Plenty of room for RSI to frop the price through 10K