Last Update: 12/4/2018
(follow me @2kaykim for the future updates)
11/4/2018
I’ve decided to add more CALLS at 253.03 (below chart is screened on Thursday when I was adding. As of last Friday DIA is at 252.46) while holding all of my remaining CALLS. We do have a open gap at 248-251ish, currently the gap-open area (250.80ish) is acting as support last three sessions. If the gap can be sustained, bulls will have advantage in the minor-term to keep this momentum going, however if the gap gets filled the gap-fill level should act as support as well. 255-288ish level to overcome to reclaim the control back to the bulls, let’s see how it plays out.
TIME-STAMPED
• ENTRIES: 242.44, 246.10, 246.49, 249.73, 255.99
• EXITS: 1/4 @ 264.77
• ENTRIES: 253.03
Above chart screened on 11/1 Thursday mid day
11/7/2018
In a technical sense, DIA is actually leading all other major indices. Because, SPY and QQQ has not yet broken well-above the recent swing high (arrows) like DIA has done here today; this means, DIA is no longer in a downtrend in the minor term. DIA is now in a uptrend in all terms (minor, intermediate and primary) as of today unlike QQQ (see tonight’s QQQ update). Also DIA is the only index, as of today, trading well-above the major moving averages completely leaving other indices to the dust–very bullish signal. Also, DIA is now only down -2.5% from the ATH peak and gained +8.69% since the October lows in a week and half. Let’s see if we can hold above 258-260 for the 270 as my next target. I am holding all of my CALLS.
TIME-STAMPED
• ENTRIES: 242.44, 246.10, 246.49, 249.73, 255.99
• EXITS: 1/4 @ 264.77
• ENTRIES: 253.03
12/4/2018
I’ve added more CALLS at 250.63 earlier today. Volatility like this will shake the core of the market participants in panic and fear as I already see it flowing through the social media (as always on every single decline — its like a Jerry Springer show of the market). However, my long-term outlook remains the same. Sharp 1-day decline shouldn’t effect your emotional state if you are true/professional trader, only the novice and undisciplined traders will. I am anticipating a inverted double-heads and shoulders pattern to play out here and quickly running back up to the recent highs and possibly running to ATH level by the year end or early next year. More updates later.
TIME-STAMPED
• ENTRIES: 242.44, 246.10, 246.49, 249.73, 255.99
• EXITS: 1/4 @ 264.77
Above chart screened this afternoon
