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XJO Weekend Charting and Chat - 2nd Mar 2018, page-10

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Double Or Nothing

914 Posts.

35

03/03/18

16:14

Post #: 31503178
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Originally posted by V* ↑

I suppose everyone will make the move together.

Currently watching other indexes, which show short term weakness I think, but still showing that the train is not off the rails yet.

FTSE:
At a S/R right now, diagonal and horizontal support still holding, although this is coming from a bear flag pattern.
Another couple down days and a weekly close lower might nudge it over the edge?

DAX:
Could be a nice double top here, and has fallen out of same bear flag as FTSE, but still holding horizontal support and uptrend channel for now.

Nikkei:
Fallen out of bear flag but still within lower uptrend support I think.
Note the Island Reversal pattern at the top too.

one that I do think is worth noting is the volume on the DowJ.
Appears to be a notable change in sentiment I think, just needs to follow through below 200 day MAs. What a run it's had!!!
(monthly chart)

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Dow chart look and feel like distribution.

XJO Value at posting: 5,928.9
1 Upvote

0 Great analysis

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