Trading news

Dow Jones – prognosis via Dow Theory for calendar week 35/2015

Weekly chart:

The Dow has now broken through the 20 location point line without resistance, leaving the correction zone in a downwards movement and thereby breaking the uptrend that existed until now. This means that in this trend size, the index should now be seen as trendless for the time being.

Chart1

Daily chart:

In this trend size we can see even more clearly how the Dow has transitioned into a downtrend. The 20 LP from the monthly chart did not call any buyers into action, which means that the trend is now very far into the movement. Currently, the last correction zone runs from 17108 to 17530 points. With each day now, a correction becomes more likely.

Chart2

Hourly chart:

Logically, we can now also see the current downtrend in the hourly chart, but this downtrend is already in a very mature stadium. However, the last correction zone is located pretty far away, meaning that a significant correction has to happen in order to break this downtrend. For now, I recommend the sidelines.
Chart3

I hope you will remain favorably disposed towards me and always remember: the journey is the reward!

All the best

Markus Gabel

Head of Sales/Trading

AgenaTrader/TradeEscort

AgenaTrader Trading Software

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Monday, 24 Aug, 2015 / 2:02

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