$DJX Daily TOP #Dow
Updated
DDJX may be on the verge of a major decline.
Many signals points into that direction:
- S13 exhaustion point recorded today (October 6th)
- Daily Price Flip
- Daily close near Demand Line
- Wave B recently triggered after a recent advance of 5 upwaves
- RSI lagging near neutral zone
From this observation, 3 different scenarios can be drawn:
1. Moderate Bear
Wave C ends near 240/250 before resuming a new uptrend
2. Strong Bear
There is a larger picture where the decline generated by Covid19 could actually be a bearish wave 1.
The top of the bullish wave 5 is also the top of a potential wave 2.
In this case, we can also expect to see the dramatic decline associated with a wave 3 with a main target around 120
3. Continuation of the bullish trend
For this post, the TDX indicator has been configured with a low countdown precision.
With higher accuracy settings, the exhaustion point S13 could be postponed and recorded later (at least above 285)
Best!
MATHR3E
Many signals points into that direction:
- S13 exhaustion point recorded today (October 6th)
- Daily Price Flip
- Daily close near Demand Line
- Wave B recently triggered after a recent advance of 5 upwaves
- RSI lagging near neutral zone
From this observation, 3 different scenarios can be drawn:
1. Moderate Bear
Wave C ends near 240/250 before resuming a new uptrend
2. Strong Bear
There is a larger picture where the decline generated by Covid19 could actually be a bearish wave 1.
The top of the bullish wave 5 is also the top of a potential wave 2.
In this case, we can also expect to see the dramatic decline associated with a wave 3 with a main target around 120
3. Continuation of the bullish trend
For this post, the TDX indicator has been configured with a low countdown precision.
With higher accuracy settings, the exhaustion point S13 could be postponed and recorded later (at least above 285)
Best!
MATHR3E
Comment
The potential S13 exhaustion point found with a low countdown accuracy setting did not reverse the trend.The countdown setting is therefore adjusted to medium accuracy.
Today therefore the countdown marks a bar 8 (Fib Number), which could also mark a local top.
The end of the countdown should occur next week.
No invalidation of the scenarios. Targets will be adjusted after the confirmation of the wave B peak (if it is confirmed)
The continuation of wave 5 is still possible. Oscillators are still bullish.
Comment
S13 exhaustion point with medium accuracy recorded on October 16th.Today DDJX recorded a Qualified break of Demand Line (Level 1)
If no disqualifier record tomorrow, the breakdown will be valid.
Comment
DDJX No break cancellation registered today.The bearish break is considered valid:
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