US stock market Wall Street today forecasts trends and signals

American stock exchange trading signals
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American Stock Exchange Wall Street today technical analysis

American stock market Wall street forecasts with short- and long-term signals using WD Gann economic cycles.

Wall Street stock chart with weekly technical picture

american stock exchange wall street forecasts today
Dow Jones Weekly Index 10.04.24

US stock market Wall Street short-term analysis

With the expiry of the Minimum Square in the week of 14 October 2022, the Dow Jones Index made the minimum of the corrective phase it had started in the week of 07 January 2022.

In conjunction with the ascending 1X2 angular support visible in the picture as a yellow vector, the American Stock Exchange following the cyclical expiry just mentioned, began a new ascending phase consisting of several stages of advancement.

With the reaching of the static resistance of Octave at 34,595 points, the Wall Street Index in conjunction with the Set Up weekly of 02 December 2022 changed the directionality of the trend, to generate a new negative sideways phase.

The negative trend reached its peak in the week of 13 March 2023, with the crossing of the quotations with the 1X4 angular support drawn in purple.

From this new low the Dow Jones Index produced a new positive sideways trend, which ended in the cyclical expiry week of 04 August 2023.

The new corrective action broke down the 1X4 angular supports, which had initially supported the uptrend, pushing the New York Stock Exchange prices to the next 1X8 angular support drawn in blue.

The new negative dynamic in the US market was finally completed in the weekly set-up of 03 November 2023:

since that cyclical expiry week, highly correlated positive returns were gradually created, until the top of 37,778 points was reached in the week of 29 December.

Just after that there was a new sideways phase, but with the expiry of the Maximum Square of 12 January 2024 the Dow Jones started to produce new positive returns again.

However as is evident on the slide this new bullish phase was weaker than the previous one as the new returns had less value than the 1X1 corner drawn in red.

The last trading signal in the US stock market expired in the week of 12 April 2024.

During this period the market broke downwards the level of 38,530 leading to a new negative lateral phase that will have as first supports the areas of 38,200, 36,640-36,395.

Potential positive retracements will have as resistance the area of 39,400.

Only the bullish break of 39,900 points will indicate a new upward recovery of Wall Street.

New York Stock Exchange medium-term forecast

New York Stock Exchange today forecasts and technical analysis
Dow Jones Monthly Index

The triple minimum shown on the weekly time frame is most visible in the monthly:

September 2022 partial expiry of the 90-month Square, March 2023 Range Square and November 2023 Minimum Square.

From the triple bottom mentioned, the bullish phase of the Dow Jones developed, which pushed prices up to the 1X1 angular resistances, which constitute the upper median band of the bullish corridor.

The last stock market signal expired in March 2024.

The angular resistances that constitute the median vector of the bullish channel are preventing further expansion of the positive momentum.

If prices reach 38,425 points the medium-term trend will reverse into a negative lateral: first supports in the 38,070 area; 36,950 points.

Resistance in the 39,470 area.

While a return above 39920 will confirm the propulsive activity of Wall Street.

Dow Jones Index technical analysis in quarterly time frame

Indici Borsa americana previsioni Dow Jones
Indice Dow Jones trimestrale 10.04.24

The long-term trend of the Dow Jones is positive.

The new quarterly stock market signal coincides with the second quarter 2024.

For quotations below 37,090 the quarterly trend will reverse in a negative direction: supports in the area 37,600; 36,450.

The US stock market forecast report was described using the technique of the American economist WD Gann and with the help of the Top Trader(c) stock market software.

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