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Trade Recommendation: Dow Jones

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Trade Recommendation: Dow Jones

Introduction

This article was posted on Tuesday, 19:06, UTC.

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I have a feeling that Dow Jones is just hitting the resistance at 21650+ and that it will not be able to climb to a new ATH. I could be wrong, but I got this weird feeling that we will see a sharp drop in the coming days.

As I enjoy to take high risks, I’ve shorted Dow Jones at 21650 with a stop loss at 21670 to 21680 and a take profit at 21567. I might move both the SL and the TP up or down 10+-points. This might be a stupid trade (and recommendation) as all signs points upwards. But I do not understand why Dow Jones would climb even higher. There are a few things that concerns me with the american markets:

  1. The Debt Ceiling must be raised in October or the US will come to a stand still
  2. The tax-reform hasn’t been introduced since Trump is trying to pass a health care bill
  3. The VIX (Volatility Index) is at its lowest in many years (trend reversal?)
  4. Gold price is stable at 1250 USD
  5. IMF reported that they see the US market as the most overly valued market in the world

Let me know your thoughts.

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Jonas Borchgrevink

Jonas Borchgrevink

Founder of Hacked.com and CryptoCoinsNews

Comments
  • user

    AUTHOR robmonty

    Posted on 7:13 pm July 25, 2017.

    12*** ?

    • user

      AUTHOR Jonas Borchgrevink

      Posted on 7:24 pm July 25, 2017.

      21*! Thanks for the notice. Wrote that piece a bit too fast to get it as current as possible.

  • user

    AUTHOR SimplyConphuzed

    Posted on 7:37 pm July 25, 2017.

    1. Your article has 12650, 12670, etc. which should be 21650, 21670, etc.
    2. Playing a 100 point roll in the DOW is less than 1/2 of one percent, which seems quite insignificant. Why would you bother?
    3. Lack of tax reform is not a surprise to the market, and is thus already priced in.
    4. The DJIA is nowhere near the 50 day MA, and is showing no signs yet of moving closer to it.
    5. August/September are usually slow to negative months for the DOW, so I will look at trimming my positions soon. For now, I am tightening my stop losses. I would not bet on the downside yet though. There are several positives probably yet to come from earnings this week that will likely drive the market a bit higher.

  • user

    AUTHOR Mauro

    Posted on 10:08 pm July 25, 2017.

    Youre right jonas…

    I see the dax @ 10k too…

    And i hope for silver 20$ but silver is used for industry, so if industry falls siler normaly cant rise

  • View Comments (5) ...
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