Dow Intraday charts 13/05 - 17/05

[ChartMan]

Great TA trading day today. Lots to see, in fact so much its unreal.
Divergent tops and bottoms. In all there were 4 divergent tops today!
Measured move from breakout to perfect target at 027( using halfway pull back.

Horizontal resistance/support switches at 010 and 090 ( thanks Arty)
Natural support/resistances at 32 and 64.
Downtrend resistance to support switch at 071 along with triangle break, confirmed by 100 MA break.
Expanding triangle on CCI indicating volatility before break.
False TA break to downside but price maintaining support indicating strength.
Skim calculated early on in the day that the eventual top may be 105 using Fib best fits. I'd say that was 100% spot on.Sorry there isnt really room to do a fib plot....maybe later....

 

[ChartMan]

Not too much today, but a break from the normal 2 day /1 min chart is in order as all the action was during the last two hours. A confirmed 3 pk PD bottom was the major event of the day!This was followed by a pullback to the 100 MA and then off again. Note the breakout from here was confirmed by the RS switch just after the break. Had you traded to my 100 MA rules, you would be 350 points up in two days.....BUT you would have to have held overnight....
Had you gone long at about 3:30, ( on the 32 res break) and stayed with it all day, you would have made another 10 points over and above waiting for the tripple bottom. (assuming you didn't close on the 69 peak). Just making a point to those looking at doing a spot of "after tea" DOW trading and wondering if it is worth it. In my opinion it is, BUT, like all things, you can't just plonk youself in front of the PC and hope to be a dow trader overnight......practice makes perfect.

 

[ChartMan]

Not too much again today. A few PD tops and bottoms, but not perfect examples. A head and shoulder on CCI that just wasn't clear from the price.... and break confirmations as the price goes through the 100 MA. Not too much time spent around the 100MA today so a lot of good trading opportunities...The P/time evening trader could have picked up a straight 100 point short from 7pm onwards.

 

[ChartMan]

Not too much today either, but a major triangle formed that will give 100 points or so on the break out - which ever way it may go. Also a good example of the 100 MA whiplash that went on for over an hour. A good time to sit on your hands and have a good think....

 

[ChartMan]

Got the break to the upside, but short lived. 3 pk nd top confirmed the getout at 350.Then a 100 point drop to signal the end...but support was found and a 3/4 pk pd bottom.Following the 100 MA rule, you could have ridden the bottom to the top in one go....the price never went below the trigger (100MA - 20).The tip of the Inverse Head & Shoulders came very close, but PD was already forming on RSI and the downtrend line was now providing support.
For the evening traders you could have picked up the reversal from the Inv. H&S and gained 70 odd points,entering at the 100 MA break at 280, or a little safer, just after the bull pennant and bounce off the 100 mA at 285 at 19:40.....

 

[ChartMan]

Bonus chart tonight! Just noticed this cup and handle performing to target......rare. Not perfect in its form, but close enough.