Dow Intraday Charts 29 Mar - 02 Apr

mombasa

Established member
561 1
divergence from the start and its still going up !

Looking at the 60 min chart - looks like a W has formed. Also daily/100 EMA now bullish and so is weekly/20EMA
 

bgold

Established member
532 5
Thusfar an extremely boring day but interesting in terms of pattern. Can't really call this a flag. See that afer the weekend retail (joe public) influx which took YM above pivot R2, market stayed within a ~30pt range. dito in ES which has stayed in 3pt range. Ergo nobody, neither wall street or institutions has shown any interest. Volume continues to be very low. I hear last week's rally was also on suspicious low volume.

Otherwise, quarter-end on Wednesday may provide some further support.
 

ChartMan

Legendary member
5,580 46
So where are we going? The big gap up has skewed TA so no real clues. A guess at the channel , but that's about it.
 

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ChartMan

Legendary member
5,580 46
All over in the first hour..... then total boredom,unless your were TS chasing divergences that would have proved profitable for a few points....
 

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mombasa

Established member
561 1
I'm thinking :

1 - Bull flag on 10 and 15 min chart - not a very nice one but it is a consolidation

2 - Potential head & shoulder - have had the left shoulder, yesterdays action formed the head and today ?
 

bgold

Established member
532 5
Market keeps whipping around yesterday's value area 10298 - 10318 (70% of yesterdays' volume). I hear volume in 1st hour of trading is very low. It seems that we are waiting for last portfolio adjustments before end-quarter and Frida's employment numbers.
 

ChartMan

Legendary member
5,580 46
Direction seems settled to me, BG ... Still no real channel confirmation, but staying well within bounds. Right or wrong, you still need parameters/guidelines on which to base decisions. 440 and 450 next res up.
 

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ChartMan

Legendary member
5,580 46
Range bound for the first half and then a nice steady rally into the close. Nice long entry at 332, but forced to close on the ND at 354 was a disapointment...... not being able to get back in again. That's the rules :(
 

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