DJIA Could Have Terminating Move Up on 12/5/16

TVC:DJI   Der Dow Jones Industrial Average Index
108 4 10
The move down from the DJIA             high at 19225 has been choppy and shallow - it appears to be a Horizontal Triangle.
If its complete we can expect a sharp thrust up on 12/5/16. If so the rally may not last very long or go very much above 19225.
The SPX             and Nasdaq would likely rally with the DJIA             and probably fail to confirm the DJIA             new high.

Watch the DJIA             , SPX             and Nasdaq. A DJIA             unconfirmed new high on 12/5/16 could be a terrific shorting signal.



Your Dow analysis in this post spurred me to update the Dow 4 hour chart, as well as the SDOW (Pro Shares 3X Short ETF on the Dow)
I will be looking to establish an initial small short position in SDOW on 12-5, if price retests the all time low of 11.19 on 11-30.
That would correlate with a move up to 19225.29 in the Dow, last weeks historic high.

Dow could open down on 12-5 and then move up to a double top high of 19225.

A breakout above 19225 would open up another break out move higher.
Can DOW 20000 be far away, perhaps by the end of 2016 ?
Quite a number to bring the public in in mass for the beginning of 2017, and the Trump Presidency inauguration. Dow 20000. Ha.


markrivest The_Unwind
Hi Joe

If the DJIA breaks above 19,225 with the Nasdaq and SPX failing to confirm there probably won't be enough time to reach 20,000 in 2016.
The DJIA will probably start falling this week, at the very least with a shallow correction for a couple of weeks.


The quantification of Dow 19130 as a pivot support in this 15 minute chart is technically correct.
A break of 19130 would immediately target 19035, base line support which should in my humble opinion, be noted in your article,
Yet excellent analysis of the chart pattern.

Thank you,

markrivest The_Unwind
Hi Joe

Thanks for the information.

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