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Dow Jones Industrial Average Chart Updates
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maxliukt
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31-Aug-2010 22:06
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too chim for me. is it going uptrend or down trend? |
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tact888
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31-Aug-2010 21:41
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DJIA Testing Potential Diamond Trendline Support Zone Choppy swings continue to plot the peaks and troughs of the giant diamond formation. Upside Resistances 1. Upper resistance zone of green dotted channel 2. Green dashed down trendline of the diamond 3. Green bold down trendline of the diamond 4. Blue dotted resistance zone 5. Peak of diamond top Downside Supports 1. Red dotted support zone of the red upper channel trendline 2. Lower support zone of green dotted channel 3. Orange dashed support belt 4. Red dashed median band of the red channel 5. Lower support of the red channel Take note that any retest of the diamond top may result in a potential double top scenario. Further upward strength will confirm a continuation diamond pattern. Conversely, if the lower support of the red channel fails a diamond top pattern will be confirmed and the index will probably plummet towards 8000. If weakness persists at this region a retest of the March 2009 low is imminent. View chart at http://tactcharts.blogspot.com/2010/08/djia-testing-trendline-support-zone.html |
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tact888
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12-Aug-2010 21:09
Yells: "Learn a life-changing skill and empower yourself. tactcharts" |
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DJIA Potential Head and Shoulders Clone Within Potential Diamond Pattern within pattern fornation being created by the DJIA. Immediate support is the pink dotted support zone. A rebound from this pink zone will probably be halted by the blue descending resistance joining the peaks of the diamond top head and the peak of the right shoulder of the potential head and shoulders clone. In the event of an unexpected breakout above this descending resistance the upthrust will encounter next resistance at the light blue dotted zone. If further advance continues a retest of the diamond top head peak may result in a potential double top pattern. Conversely, further weakness below the pink dotted support zone may find support at the green dotted support zone. A breakdown below this zone will confirm the potential clone head and shoulders pattern and the potential diamond top formation. View chart at http://tactcharts.blogspot.com/2010/08/djia-potential-head-and-shoulders-clone.html |
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niuyear
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15-Jul-2010 22:19
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This type of 'coloured chart' is not user friendly to those colour blinds. |
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tact888
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15-Jul-2010 21:47
Yells: "Learn a life-changing skill and empower yourself. tactcharts" |
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DJIA Enters Potential Resistance Zone Doji halted advance inside potential resistance zone demarcated by green dotted and green bold diamond resistance lines. Any surprise upthrust above this green resistance zone will probably encounter strong bear defences at the light blue dotted resistance band. A pullback towards the red support of the diamond is expected if the diamond trading pattern script continues to play accordingly. Take note of any breach of the orange dotted support area as this may be the start a long term downtrend. View chart at http://tactcharts.blogspot.com/2010/07/djia-enters-potential-resistance-zone.html |
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tact888
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06-Jul-2010 11:14
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DJIA Critical Diamond Support Being Tested Hammer followed by hammer clone testing red diamond support. Closing below the red support indicates potential for further weakness. The hammer and its clone seems to suggest a probable rebound may happen. If no confirmation candlestick bar appears this week to support a rebound a drop into the lavender channel will probably take place. A drop into this channel will confirm the diamond top pattern and will result in further weakness.
Take note that if a hammer confirmation formation appears any upward move will probably be challenged by the green dashed diamond resistance line followed by the green bold resistance line. A successful breakout above these green resistances is highly remote. Any miraculous breakout here will result in a diamond continuation pattern and more upward swing is expected View chart at http://tactcharts.blogspot.com/2010/07/djia-critical-diamond-support-being.html |
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tact888
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15-Jun-2010 18:54
Yells: "Learn a life-changing skill and empower yourself. tactcharts" |
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DJIA Line Chart Half Diamond To Full Gem The orange half diamond formation mentioned in the 6 June 2010 posting has been transformed into a sparkling gem . A breakout upwards will confirm a reversal diamond pattern. The upthrust will challenge the formidable moving average ribbon bands and will probably be halted by the red trendline. Conversely, a breakdown below the orange diamomd support confirms a continuation pattern and will probably result in more downward declines. A drop below the blue trendline will test the lavender and the green horizontal support levels. View chart at http://tactcharts.blogspot.com/2010/06/djia-line-chart-half-diamond-to-full.html |
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tact888
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11-Jun-2010 21:11
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DJIA Range Bound Between 200 MA and Diamond Support As expected DJIA is trapped between the red support of the potential diamond pattern and the dual resistances of both the 200EMA and 200SMA. A strong upthrust above these 200 moving averages will most probably be halted by the green resistance of the potential diamond formation. The red support will probably be tested again if more shocking news are released. The diamond will be negated if there is no clear breakout by the time the index reaches the apex which is tentatively around mid Oct 2010. View chart at http://tactcharts.blogspot.com/2010/06/djia-range-bound-between-200-ma-and.html |
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tact888
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07-Jun-2010 06:06
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DJIA Line Chart Diamonds and Half Diamond The simple line chart is treated as the poor cousin of the more exotic candlesticks charts and is often overlooked. In character, in manner, in style, in all things, the supreme excellence is simplicity. Using the simple line chart the green and red diamonds can be seen clearly. The orange half diamond is also known by many names such as 1. Reverse Symmetrical Triangle 2. Megaphone 3. Broadening Pattern Depending on how the market moves next week this orange half diamond may developed into a full diamond if high volatility swings become compressed. Take note that a head and shoulders pattern with a red diamond top head was confirmed when the red bold trendline which is also the neckline support broke down on 20 May 2010. This coming week will be critical because support failure of the bold blue trendline will probably result in a fall towards the green horizontal support which is also near the measured move projection of the head and shoulders formation. A technical rebound is expected for the orange half diamond but it will probably be halted at the light blue horizontal resistance line. Until a powerful breakout emerges from this orange half diamond pattern more range trading between the light blue and pink horizontal lines will be the norm. View chart at http://tactcharts.blogspot.com/2010/06/djia-line-chart-diamonds-and-half.html |
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tact888
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28-May-2010 16:36
Yells: "Learn a life-changing skill and empower yourself. tactcharts" |
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DJIA Must Clear and Stay Above 200 Moving Averages To Sustain Rally The candlestick reversal pair consisting if a hammer followed by an inverted hammer has been confirmed by a bullish marubozu candlestick bar. This rally can only be sustained if the DJIA breaks above and remain above the 200EMA and 200SMA. High chance of challenging the green resistance of the potential diamond pattern if this rally is maintained. Stay alert and monitor the critical red support of this potential diamond formation. Support failure here will confirm the bearish diamond top and will probably result in a long term bear market. View chart at http://tactcharts.blogspot.com/2010/05/djia-must-clear-and-stay-above-200.html |
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tact888
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26-May-2010 20:39
Yells: "Learn a life-changing skill and empower yourself. tactcharts" |
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DJIA Potential Hammer Reversal Candlestick Pattern The potential diamond top formation was not confirmed as DJIA closed above the critical red bold support line. A potential hammer reversal candlestick has formed and this may mark the beginning of a new uptrend. A similiar hammer was formed on 5 Feb 2010 as indicated by the light green arrow. This new potential hammer needs to be confirm with a bullish candlestick bar. It needs to clear both the 200 moving averages to regain its bull status. A breakout above the 200 moving averages will probably challenge the green resistance of potential diamond pattern. View chart at http://tactcharts.blogspot.com/2010/05/djia-potential-hammer-reversal.html |
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tact888
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25-May-2010 20:35
Yells: "Learn a life-changing skill and empower yourself. tactcharts" |
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DJIA Flaccid Unable To Clear 200EMA High chance of diamond top confirmation if the close is below the red bold support of the potential diamond pattern. A low near the 127.2% Fibonacci level will not shock me personally. A move below this level will be interesting and exciting. More important is the closing. Above or below the red bold support of the potential diamond pattern. Take note of the amplitude of any technical rebound as it will provide clues of market directions for the next few days. The optimist sees opportunity in every danger; the pessimist sees danger in every opportunity. Happy charting and profitable trading. View chart at http://tactcharts.blogspot.com/2010/05/djia-flaccid-unable-to-clear-200ema.html |
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