DJI experiencing a new congestion

The DJI is going upwards in a step-by-step way, congesting and breaking upwards. Many are saying that it is peak time but, despite the low volume, the uptrend
keeps itself alive.

Congestion reaching its end?

The current congestion in the Futures index seems to approach an interesting momentum since it has reached the primary downtrend and the fork resistance. Because of that, an interesting move is expected for the end of this week I think.

Trend Reversal Check Update

Looking at the DJI Daily and the YM Futures charts, it is possible to suspect that the index will move sideways before heading up or down.

Trend Reversal Check

The DJI has shown reversal signs but, until it loses 8188 I continue to consider we're in an uptrend. The 8188 number was found using the Three Bar Net Line technique developed by Joseph Stowell. Here's a link to his homepage: http://www.bondtrades.com/

DJ Futures Weekly update

Although it seems that we've already had a trend reversal in the daily charts, the weekly chart shows that there's space for a last move upwards before a major market correction.

S&P 500 bouncing back

The S&P 500 seems to start a top formation after approaching the primary downtrend line.

DJI tests primary downtrend line and retreats

The DJI tested the primary downtrend line today and retreated down to the first Fibo retracement. Although Bank's stocks closed some points up in the after market, it is better to see how we'll close tomorrow to get a better picture of where this market is heading to.