And Dow Came Tumbling After

Dow Jones Industrial Average:

Dow Jones Daily Chart
The Dow Jones is up for a crash. After our previous report on world markets, it is seen that Gann studies for EOD Dow charts suggest a trend reversal near the 16th trading day from the 11th of April, 2012 which is when the current uptrend started. Hence, it is expected that the index will face sharp falls in the coming few sessions until the trend reverses again. Wolfe Wave patterns are yet to be seen on the charts. As far as Camarilla Levels are concerned, the index is standing at a neutral zone. However, with the Gann reversal in view, we may expect the index to fall down to lower levels which may trigger a L4 - L5 move.

Dow Jones 15 Min ChartIntraday charts for the Dow Jones also do suggest severe weakness. 15 minute charts for the index did show sharp drops in the last trading session. While some recovery may be seen near the L3 support, where it currently stands, the larger picture, as depicted by our EOD analysis shows a dark future. Traders should be prepared for further drops and may even consider going short below the weekly L3 level as indicated in the attached image.

Fiber EOD Chart
Sharp moves may be expected in the pair around the 7th of May, 2012 as per Gann studies. the forex pair has been slow for quite some time and is yet to show strength in any direction. Wolfe Wave patterns are also not seen. Our charts show a sell signal to be influencing the Fiber, but it would do traders good to stay away from this pair until a definite trend can be determined. the pair has found some support near the L3 Camarilla Level. However, how far this level can resist a fall yet remains to be seen.


Gold EOD Chart
A new set of Camarilla Levels for the new month has placed the precious metal in neutral territory. Gold charts depict strength and may go though some major moves near the 9th of May, 2012. However, trend changes can be expected only at May end. A buy signal on the charts with no Wolfe patterns make the metal a good one to hold.


S&P CNX Nifty:

Nifty EOD ChartNifty charts have penetrated the L4 support zone and are expected to fall further to touch the monthly L5 level. Nevertheless, a Gann reversal is expected around the 9th of May, 2012. The index may fall further or may remain volatile until the next reversal. Wolfe Wave patterns are not seen on the EOD charts yet.  The index is under the influence of a sell signal on the EOD timeframe.

Nifty 15 Min ChartIntraday charts too disappointed traders by falling below the 1 - 3 Wolfe Wave line and thus stopping out the recent long position. Sharp drops did take the index out of the pattern and into the L4 - L5 Camarilla zone. This is a highly bearish zone until the L5 level is touched wherefrom a reversal may occur.

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