GEAR ETF Weekly Chart Outlook

A little too rich this analysis may be for some of us who may be beginner in TA, but had to be done.

A textbook perfect, classic Dow Theory,  Short (1st), Medium-Intermediate (2nd), Major(3rd) TF trend definition on display with this GEAR ETF Weekly Chart. In order for us to have a 3rd TF higher trough (HT 3rd) we must have a 2nd TF confirmed down trend. That is highlighted with Green rallies and reactions. That HT of 3rd TF is now confirmed ( 3 weeks ago) but the lowest point of it hasn’t as yet.  

One may also bring Elliot Wave into this analysis and start counting the waves if they wish. That is also fine.

When an engineer is made in charge of a Dow Theory, what could he/she do ? Try and perfect it and Dow Theory has a new name called EW in his/her head.

What is the difference between Toyota & Lexus or Dow Theory & EW ?

Lots of subjectivity in TA as we all know.

This analysis may have little or no practical use at all, I must admit. A little homework may unveil how it may be applied in practice. All I can say is that the MAJOR TREND is UP,  MEDIUM TERM TREND is DOWN and SHORT TERM TREND is also DOWN. What is next ? No one knows to be frank.I am watching the zone of support shaded with Yellow.

Weekly GEAR chart below with Dow Theory markings.

gearweekly30072017

Disclaimer

All the information and analysis provided on this website is general in nature and for educational purposes only and does not constitute financial advice. No content in any way implies a recommendation to buy, sell, hold or short sell any financial instrument, nor is it financial advice.

Investing and trading in financial markets carries considerable risk, and should always be done in consultation with a licensed financial adviser taking your personal circumstances, financial situation, objectives and needs into consideration.

Links to other websites are inserted for convenience only and do not constitute endorsement of any of the material on those sites, or any associated organisation, product or service. Kazim Agaoglu is not responsible for the content of any site owned by a third party that may be linked to this website and such links are provided as a courtesy with no judgment or warranty being made concerning the suitability, accuracy or otherwise of the content on any such site.

Kazim Agaoglu disclaims any undertakings, warranties or guarantees, express or implied and shall not be liable for any loss or damage whatsoever arising out of in connection with the use of or reliance upon any of the information on this website. The user accepts sole responsibility associated with the use of the material on this site, irrespective of the purpose for which such use or results are applied. The information on this website is no substitute for financial advice.

 

 

Comments are closed.