DAX-and-DJI Technical Analysis:
Germany 30 Stock market index (DAX) is down since last 5 months as shown below. As can be observed from the below chart for Germany 30 Stock market index (DAX), DAX is printing bearish (close price is below open price) candles for the last 5 months consecutively.
We have drawn the Fibonacci for Germany 30 Stock market index (DAX) monthly chart from the swing low of February 2016 (which was a “Hammer” bottom reversal Candle) to the swing high of January 2018. From that Fibonacci, it can be observed that the Germany 30 Stock market index (DAX) has crossed the 38.2% and 50% levels. Price of DAX has touched the 61.8% Fibonacci level as shown in the chart. It would be interesting to observe whether the price of DAX is also breaking this 61.8% Fibonacci level or not.
Similar to DAX, Wall Street Cash 30 Stock market index (DJI) is also down from 26,951 since October 2018 as shown below. As can be observed from the below chart for Wall Street Cash 30 Stock market index (DJI), DJI is printing bearish (close price is below open price) 8 out of last 12 weekly candles in the last 3 months, Similar to DAX.
Similar to DAX, we have drawn the Fibonacci for Wall Street Cash 30 Stock market index (DJI) weekly chart from the swing low of 5th of February 2018 to the swing high of 1st October 2018. From that Fibonacci, it can be observed that the Wall Street Cash 30 Stock market index (DJI) has crossed the 38.2%, 50% and 61.8% levels. Price of DJI has touched the 78.6% Fibonacci level as shown in the chart. It would be interesting to observe whether the price of DJI is also breaking this 78.6% Fibonacci level or not.
We are observing a lot of technical signals which are pointing to a possible start of a BEAR Market in Stock and Index Trading. We only analyze the situation as it is happening NOW in the world stock marketplace which can effect Index Trading worldwide in a big way.
We have analyzed three long-term time frames for two best indices viz. DJI 30 (Dow Jones 30 or Wall Street Cash) and DAX 30 (Germany 30 Cash) for Index Trading as shown below. The time frames we have analyzed are as below:
- Yearly,
- Quarterly and
- Monthly.
Dow Jones 30 or Wall Street Cash Index Market Analysis:
In the Yearly chart for Dow Jones 30, we can observe that this index market has moved up continuously from 2008 till 2018, in a bull market, a total of 20,481 points. The last candle which is forming for this year is shaping up like a “Doji” candle. Doji represents indecision, especially after a long run which happened for this Index Trading market.
In the Quarterly chart for Dow Jones 30 Index Trading, the last candle which is forming and will finish in the month of December is shaping up like a “Dark Cloud Cover” or “Engulfing”.
An almost similar situation for Dow Jones 30 Index Trading in the monthly chart can be observed. The last candle which is forming and will finish in the month of October within the next 3 days is shaping up like an “Engulfing”. We can also see the formation of a Double Top in this chart as shown below.
DAX 30 or Germany 30 Cash Index Market Analysis:
In the Yearly chart for DAX 30, we can observe that this index market has moved up continuously from 2008 till 2018, in a bull market, a total of 10,014 points. The last candle which is forming for this year is shaping up like an “Engulfing” candle. Bearish Engulfing represents a possible downturn, especially after a long run which happened for this Index Trading market.
In the Quarterly chart for DAX 30 Index Trading, this index trading market has already printed an “Evening Star” in the quarters of July 2017 to March 2018. Evening Start represents a possible downturn, especially after a long run which happened for this Index Trading market.
A similar weakness has already formed for DAX 30 Index Trading in the monthly chart which can be observed below. This market has already printed a bearish Engulfing in the month of February 2018 whose low is being taken out for the first time in the current month as shown below.
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