US30: 3300 Points In Total
- Lester Davids
- Apr 10
- 2 min read
Updated: 18 hours ago
Trade the U.S. INDICES with Unum Capital
To get started, email lester@unum.co.za
The horizontal lines at 40289 and 40653 (unchanged from original post) was your resistance/sell-re-entry range.
It has given traders two opportunities to sell into, with the index lower again by ~1600 points!
This brings the gains to ~3300 points in total.
Previous Post (10 April) US30: Into The Sell Range, Now Lower 1700 to 1900 Points
The horizontal lines at 40289 and 40653 (unchanged from prior post) was your resistance/sell-re-entry range. Now lower between 1700 and 1900 points!
US30 Chart as of Thursday 10 April at 18h44 (S/African Time / U.S. Trading Session)
Previous Post (Thursday 09 April at 06h26): Trading US30 / Dow Jones Industrial Average
The Dow Jones Industrial Average (US30 Index) is current lower by around 5000 points since our last post on Thursday 13 March where we discussed the developments on the monthly charts, specifically highlighting the MACD indicator. Yesterday's session saw a continuation of Monday's rally with the price finding resistance into the declining 8-day EMA. The other key moving averages also remain in a downward trend i.e. the 21-day EMA and 50-day EMA. The 75-day EMA 21-Week EMA have also started to turn lower reflecting a turn in the medium term trend. The candle structure reflects excessive selling pressure, with the price having turned lower sharply over the past week. The break lower coincided with a re-test of the key 200-day moving average. Note that the price is nearing a re-test of the 200-week moving average, a level that was last tested in September 2022, which at the time, saw a break lower and a reclaimed for a recovering. The overshoot of the 200-week moving average would also coincide with a re-test of the previous breakout level. Highlighted on the chart are key medium term support levels.
Previous Post (Thursday, 13 March at 06h14). U.S. Indices: Monthly MACD Developments
It's worth noting that all 3 indices have a pending bearish MACD crossover as per their monthly charts.
Monthly Timeframe Significance: Using a monthly timeframe means these signals are long-term. Therefore, a bearish signal on a monthly chart can indicate a potentially significant and prolonged downtrend.
Dow Jones Industrial Average (DJIA)
S&P 500 Index (US500)
Nasdaq 100 Index (US100)
Lester Davids
Analyst: Unum Capital
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