I have found the Holy Grail indicator for the Dow Jones - 100% right so far

The Dow Jones closed today Tuesday the 16th February 2021 at 31,522.75 +64.35 (+0.20%).

My "BATSONAR" trading system are not really giving enough "Sell" signals to go short on the DOW. I need to wait for confirmation. However the MFI (Money Flow Index) is giving a reading of 79.55%. If the MFI indicator reaches 80 and above (a bearish reading) a stock is considered "overbought". Also the Stochastic is reading well over 90 which is also considered "overbought". It is possible the DOW could pull back from this level but it is impossible to know by how much. Also my "Buying and Selling" volume indicator is turning negative meaning that selling volume is beginning to build.
 
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The Dow Jones closed today Wednesday the 17th February 2021 at 31,613.02 +90.27 (+0.29%).

My "BATSONAR" trading system consisting of 19 indicators are not giving enough "Sell" signals to go short on the DOW. I would recommend holding off on going "Short" on the DOW for now because it is possible it could go higher. I need to wait for confirmation from my indicators.

However the MFI (Money Flow Index) is giving a reading of 89.80%. If the MFI indicator reaches 80 and above (a bearish reading) a stock is considered "overbought".

Stochastics are reading 95+. Anything over 80 is considered "overbought". RSI (14) is reading 75.29. Anything over 70 is considered "overbought". In my opinion the DOW appears to be in a "bullish" mood but at the same time "overbought".
 
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The Dow Jones closed today Thursday the 18th February 2021 at 31,493.34 -119.68 (-0.38%).

My "BATSONAR" trading system is now using 20 indicators. At the close of trading today 16 out of the 20 indicators are giving a "Sell" (Short) signal. Also my "Buying and Selling" volume indicator has fallen to the zero line and is about to cross into the "Red". This indicates selling volume is building. As I have said, I can't guarantee these signals because I am just experimenting with the indicators at the moment.

On my chart there is a "Pivot Point" support level at 31,012 on the DOW.
 
batsonar said:
The Dow Jones closed today Thursday the 18th February 2021 at 31,493.34 -119.68 (-0.38%).

My "BATSONAR" trading system is now using 20 indicators. At the close of trading today 16 out of the 20 indicators are giving a "Sell" (Short) signal. Also my "Buying and Selling" volume indicator has fallen to the zero line and is about to cross into the "Red". This indicates selling volume is building. As I have said, I can't guarantee these signals because I am just experimenting with the indicators at the moment.

On my chart there is a "Pivot Point" support level at 31,012 on the DOW.
Click to expand...
So there's still a 20% chance we're going UP again today! 😉
 
postman said:
So there's still a 20% chance we're going UP again today! 😉
Click to expand...
I'm more concerned what the DOW will do over the next week or so. My signals are not meant to give perfect "entry points" which is impossible to do really. Sometimes the DOW will move in the opposite direction the next day after the signals have been given. As I have said, I am just experimenting with the 20 indicators I am using at the moment. There may be just a few of them that will give me consistent signals over time. I'm still learning.
 
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The Dow Jones closed today Friday the 19th February 2021 at 31,494.32 +0.98 (+0.00%).

The MFI (Money Flow Index) is giving a reading of 92.88%. If the MFI indicator reaches 80 and above (a bearish reading) a stock is considered "overbought".

Stochastics are reading well over 90. Anything over 80 is considered "overbought". RSI (14) is reading 92.32. Anything over 70 is considered "overbought".

In my opinion the DOW would appear to be "overbought" at the close of trading today.
 
Thought I would have a little bit of fun with my Trading212 real trading account and using my "BATSONAR" trading system. I had a balance of £11.45 so on Friday I added another £10 to make the account balance £21.45. I am going to attempt to build the balance up to a substantial amount over time using my signals. At the moment I am using a 0.01 CFD contract and on Friday I went short on the DOW. I worked out a 0.01 CFD contract will make about £1 for every 100 points move on the DOW (might be wrong). I know I am not going to make much money at first but I am more interested in the percentage amount gained on the account over time. At this time I will not be using a "stop-loss" as I can easily cover any losses. Just going to let it "float" around. This could be interesting and a bit of fun.

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The Dow Jones closed today Monday the 22nd February 2021 at 31,521.69 +27.37 (+0.09%).

My "BATSONAR" trading system is using 20 indicators. At the close of trading today the indicators are giving mixed signals (Buy and Sell). Some of the other indicators I also use are giving mixed signals as well. This gives me the impression the DOW is in a neutral mood and may "hover" around this level unless it makes a break for it either way. The DOW is in "limbo" at the moment with regard to "Pivot Points". There is a "Pivot Point" support level at 31,012 and a "Pivot Point" resistance level at 31,853. I have a feeling the DOW could make a break for it to the "upside" and get to the 32,000 level before long. The NASDAQ 100 fell 357 points today or -2.63%. I would have thought it might recover tomorrow which would encourage the DOW to turn positive. I am just not confident on calling a "Short" on the DOW at this time although all indications are that the DOW is well "overbought" according to MFI (money flow index), Stochastic and RSI.
 
The Dow Jones closed today Tuesday the 23rd February 2021 at 31,537.35 +15.66 (+0.05%).

Well that was a come back on the DOW today after falling as low as 31,158. I thought it was going to stay down but apparently "Buy the Dip" Trends on Twitter and stocks rebound. The Dow is obviously in a "bullish" mood so it would not surprise me if the DOW tries to close above 32,000 over the next week or so. As I have said in the previous post my indicators are giving mixed signals. Some indicators are still reading "overbought" but I don't think that will stop the DOW going higher in the short term.
 
The Dow Jones closed today Wednesday the 24th February 2021 at 31,961 +424.51 (+1.35%).

In my last post (yesterday) I said it would not surprise me if the DOW tried and close above 32,000. Didn't quite get there today but near enough. On my chart there was a "Pivot Point" resistance level at 31,850 but because the DOW has closed above this level it now becomes a support level. I did have a "Short" position on the DOW when the market opened (2:30pm GMT) but knew "Powell" was going to "talk" up the market at 3:00pm so I took the decision to close my "Short" position with a small loss before the move up on the DOW. I just had a "gut feeling" yesterday that the DOW was going to move up today because my volume indicators were saying as much. I am using a lot of data in my "BATSONAR" system much more than many of the professionals use on Wall Street. They certainly don't use over 20 indicators in a system like I do. I might be wrong.
 
Sorry I have not posted any signals the last few trading days but these "wild" swings on the DOW are impossible to predict or anticipate. Dow is up 700 points as I write this. My "BATSONAR" system is getting confused with the "wild" swings. It can't keep up....ha ha lol. I have a feeling the DOW will continue to make new highs especially if "lock-down" ends which I can see it doing in April then the DOW could fly high.
 
The Dow Jones closed today Tuesday the 6th April 2021 at 33,430.24 -96.95 (-0.29%).

My "BATSONAR" trading system at the close of trading today is NOT giving a "Sell" (Short) signal. There is a "Pivot Point" support level on my chart at 33,380. If the Dow closes below this level then it could move further to the downside. My indicators are showing a "strong bullish" sentiment although the Money Flow weakens.
 
The Dow Jones closed today Thursday the 8th April 2021 at 33,503.57 +57.31 (+0.17%).

My "BATSONAR" system is showing no sign of a "Sell" (Short) signal at the end of trading today. In my opinion the DOW could go higher and reach all time highs over the short to mid-term although having said that, Stochastics and RSI are at "overbought" levels.

Volume Based Technical Analysis - Mid-term volume sentiment - Strong bullish but the bullish Money Flow weakens. Advance/Decline Line Calculator is still in the "Green" and has a positive reading of 8.49.
 
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