DJI trapped!

Trapped between these very important retracements. They act as price magnets, and significant support/resistance levels.
These were drawn with the magnet tool, so there is no bias towards their positions.

Do note that we are analyzing the DXY*DJI chart, which shows us a clearer picture of recent price action.

A closeup.

Are we in UTAD?

And another beauty...

Tread lightly, for this is hallowed ground.
-Father Grigori

Commentaire:

The violation of this trend marks the end of QE. This shows the true effect. I hope you all understand it.

With Green and Red arrows, I have marked the points I used to draw the rays.

These long-term rays, prove as significant resistance.
Hitting one of them, was a fundamental reason the Black Monday was so severe.