Today 11/5/19 was a very important day for the DJT. It broke above important resistance at 11148 made on 4/24/19 labeled as (B).
My 7/16/19 DJT post speculated that the DJT may have completed an Elliott wave - Horizontal Triangle. As it turned out the Triangle appears to have been still under construction.
The current H - Triangle has 50% Fib relationships between wave (D)/(B) and (C)/(A).
Daily Stochastic has a bullish crossover, and room to run on the upside.
If this count is correct the DJT is in a post triangle trust up that could move it well above the all-time.
IMPORTANT - Even if you don't trade DJT you need to watch the index because it has the clearest US stock index and can act as a road map for other indices.
My next DJT post will examine the long term DJT Elliott wave pattern and upside target.
Mark
My 7/16/19 DJT post speculated that the DJT may have completed an Elliott wave - Horizontal Triangle. As it turned out the Triangle appears to have been still under construction.
The current H - Triangle has 50% Fib relationships between wave (D)/(B) and (C)/(A).
Daily Stochastic has a bullish crossover, and room to run on the upside.
If this count is correct the DJT is in a post triangle trust up that could move it well above the all-time.
IMPORTANT - Even if you don't trade DJT you need to watch the index because it has the clearest US stock index and can act as a road map for other indices.
My next DJT post will examine the long term DJT Elliott wave pattern and upside target.
Mark
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.