DJI Update for 4 September 2019

5 sept. 2019

Daily for 4 September 2019
In Bull territory.

Price Projection: 26685
HMA: Bull
Bull RSI: Neutral
Bear RSI: Neutral
BSI: Bullish
5 RSI: Positive
Consolidation: Re-established between 25978 - 26514
Price-Trend: .5x ATR


Comments: Since the beginning of August (over 21 trade days), the markets have been stalled.
I have way to many neutral-bull one day, neutral-bear the next indicators happening. This is a strong indicator of a stalled/flat market.
When markets stall the values of the indicators at < 21 trade days become worthless and stale. Because of this, I have altered the charts now for 36 trade days or approximately 3 months.
The general base lines/trends are relatively the same, however we can now get indication of movement in the indicators since using additional data beyond the period of inactivity.

Much of the movement is emotional. Gap down for X-reason, Gap up for Y-reason. The major indexes are hitting against the resistance levels and may not have true underlying financial strength to exceed these values. They currently lack strong directional indication.

For this trade day, the markets gaped up due to news regarding removal of a extradition legislation in Hong Kong. Today expecting a gap up due to the announcement of renewed trade talks occurring in the next month. Consolidation level highs will be tested on most indexes. With possible return and re-establish of consolidation levels the following day.

Be cautious right now. The current financial indexes reflect strongly the lack of directional identity and hovering at the 21 day average.

** Weekly updates will always be provided, if not updated daily, it generally means the underlying primary signals have not changed since last reported. **