A DOW Big Picture update #BRENT #DAX When we last viewed the #DOW, we ‘warned’ of the dangers if the index exceeded 26,770 points. Guess what it did! Then it went turned around quite spectacularly but quite insanely, remains within the zone where strong future growth is probable. We hate describing the recent 6,000 point reversal as a ‘blip’ but such was the pace of ascent, wild sounding statements like this are possible…
Essentially, the Dow Jones requires below RED on the chart to justify mindless panic. Or even an iota below 21,848 points as this would preclude an express ride down to the 20,000 level.
For the present, the big picture suggests moves now above 24,025 points should attempt an initial 24,193 points. This is fairly important, due to our secondary calculating at the 25,000 point level and a challenge of the immediate downtrend.
Near term, any attempt to slow things down looks like the potential, should the US market wander below 23,570. This takes the index into a position where anything below risks triggering a sharp 200 point fall. Our secondary is at 22,970, a point where we shall start wondering if some real reversals await.
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Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
9:38:30PM |
BRENT |
60.61 |
60.12 |
59.545 |
58.56 |
61.47 |
62.51 |
62.9 |
64.19 |
59.6 |
‘cess |
|
9:58:46PM |
GOLD |
1288.02 |
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|
10:00:36PM |
FTSE |
6914.24 |
Shambles |
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|
10:06:27PM |
FRANCE |
4776 |
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|
10:10:14PM |
GERMANY |
10890 |
10826 |
10789.5 |
10728 |
10902 |
10974 |
11035 |
11104 |
10890 |
|
|
10:26:52PM |
US500 |
2595.07 |
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|
10:29:26PM |
DOW |
23980.9 |
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|
10:31:27PM |
NASDAQ |
6604.25 |
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|
10:34:34PM |
JAPAN |
20295 |
Shambles |