In today's short video I am going to be revisiting the Dow Jones Industrial index (DJI).
I think it's very interesting to see what our "Trade Triangles" are doing as well as what our Talking Charts are saying about this market.
I'll also be using MarketClub's Fibonacci tool. If you have not seen this tool in action, I strongly recommend that you watch today's video.
You can watch this video with my compliments and there is no registration requirements. I would love to get your feedback about this video on our blog.
All the best,
Adam Hewison
President, INO.com
Co-creator, MarketClub
Hi Adam. The DJI is now over 8600 so where to from here? Up? Obviously the trade triangles are not working in this scenario.
Benno
Hi Adam
Thanks for the video and the DOW theory lesson.
Hey Adam, thanks very much for this video. Unfortunately the 8400 level was taken out today and we trade as high a 8500. The H&S we had the other day, very clear and reliable formation is broken.
This market is really weird and very difficult to trade...
"This market is really weird and very difficult to trade..."
I second that dacian. I really don't understand who is buying when everyone expects the market to go lower. Not only buying, but buying with some real force and no doubt stopping out all of us shorts. I find it very suspect. Everyone I study, including Adam, all with 20 plus years experience are on the short side and yet the market does the complete opposite without hesitation. It would take a concerted effort to push the market this way, or, one very large force... hmmm... makes you really wonder.
I would like to hear what Adam thinks about the US Dollar weakness today and if this had anything to do with these large moves. The US dollar was down a lot today but realistically, it's still trapped in it's recent consolidation box range, although right at the bottom of it.
DaveDM
the Dow flew right through that 8300 area! so much for that theory!