{"id":5163,"date":"2024-08-12T22:59:32","date_gmt":"2024-08-12T22:59:32","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&#038;p=5163"},"modified":"2025-05-14T09:33:35","modified_gmt":"2025-05-14T09:33:35","slug":"dji-staring-contest","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/elliott-wave\/dji-staring-contest\/","title":{"rendered":"DJI Elliott Wave: Bulls and Bears in a Staring Contest"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Executive Summary<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>DJIA quietly rallies last week after Monday\u2019s collapse<\/li>\n\n\n\n<li>The rally has taken the structure of a corrective rally<\/li>\n\n\n\n<li>Two bearish models we are following that suggest a revisit of the lows.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">DJIA Rally Stalls in Wave 4?<\/h2>\n\n\n\n<p>Dow Jones Industrial Average has been quietly rallying since that large sell-off last week. However, for the past couple of days, little progress has been made either to the bullish or bearish side. It\u2019s as if DJIA bulls filled the August 5 price gap then looked up and found the bears staring at them. And now the bulls and bears are in a staring contest to see who will move first.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXegI1VjTn1F3JMNvlFFSWlwzFtWw325oAUFpXDgco5vS039aBxxZnhayAlldPZ_AqIXWmXZ3e22mI2PsHESBhi7Iq0Da5VY1uD9KPKR_3zW3ZdXZcHK14JZBV0fTRqQjXBPDpZ1itPDnmHRgKNz4EtbJgXS?key=9jrfC7nY5efOD3tPoU0eLw\" alt=\"\" \/><\/figure>\n\n\n\n<p>When using Elliott Wave Theory as our guide, the recovery for the past week has the appearance of a corrective advance. Therefore, our bias is that DJIA will see a resumption of selling in the coming days.<\/p>\n\n\n\n<p>There are a couple of different ways to count the decline from the July 18 high. The primary Elliott wave model we are following is the decline comprising waves 1-3, and the current rally is wave 4.<\/p>\n\n\n\n<p>Under this model, DJIA should hold below the wave 1 low of $39,814. If so, then a wave 5 decline to new lows below $38,504 are just around the corner. (black arrow)<\/p>\n\n\n\n<p>One alternative under consideration is the decline of A-B-C. Since the rally has not materialised into a bullish motive wave, then, we can suspect that another A-B-C decline would begin in the next couple of days.<\/p>\n\n\n\n<p>The distinguishing factor between the black and red labels is how high the current rally carries. A print above $39,814 would have us lean towards the red labels. Otherwise, we\u2019ll keep a close eye on the black labels.<\/p>\n\n\n\n<p>One clue that is keeping the focus towards lower levels is the <a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/relative-strength-index\/\">Relative Strength Index\u2019s (RSI)<\/a> inability to materially push above 60 after reaching oversold levels. This behaviour suggests the bounce is a temporary bounce.<\/p>\n\n\n\n<p><strong><em>You might also be interested in:&nbsp;<\/em><\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/nikkei-correction-incomplete\/\">Nikkei Elliott Wave<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/sp500-temporary-correction\/\">SP500 Elliott Wave<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>After last week&#8217;s strong decline, the DJIA Elliott wave count hints at more losses to come. Discover the two main models we are following.<\/p>\n","protected":false},"author":160,"featured_media":5164,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[16],"class_list":["post-5163","market_insights","type-market_insights","status-publish","has-post-thumbnail","hentry","market_insights_categories-elliott-wave"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>DJI Elliott Wave: Bulls and Bears in a Staring Contest - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"After last week&#039;s strong decline, the DJIA Elliott wave count hints at more losses to come. Discover the two main models we are following.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/elliott-wave\/dji-staring-contest\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DJI Elliott Wave: Bulls and Bears in a Staring Contest - Alchemy Markets\" \/>\n<meta property=\"og:description\" content=\"After last week&#039;s strong decline, the DJIA Elliott wave count hints at more losses to come. Discover the two main models we are following.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/dji-staring-contest\/\" \/>\n<meta property=\"og:site_name\" content=\"Alchemy Markets\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-14T09:33:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/08\/DJIA-featured-image-bulls-and-bears-staring-contest.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1792\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Tempo di lettura stimato\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minuti\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"DJI Elliott Wave: Bulls and Bears in a Staring Contest - Alchemy Markets","description":"After last week's strong decline, the DJIA Elliott wave count hints at more losses to come. Discover the two main models we are following.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/elliott-wave\/dji-staring-contest\/","og_locale":"it_IT","og_type":"article","og_title":"DJI Elliott Wave: Bulls and Bears in a Staring Contest - Alchemy Markets","og_description":"After last week's strong decline, the DJIA Elliott wave count hints at more losses to come. Discover the two main models we are following.","og_url":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/dji-staring-contest\/","og_site_name":"Alchemy Markets","article_modified_time":"2025-05-14T09:33:35+00:00","og_image":[{"width":1792,"height":1024,"url":"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/08\/DJIA-featured-image-bulls-and-bears-staring-contest.png","type":"image\/png"}],"twitter_card":"summary_large_image","twitter_misc":{"Tempo di lettura stimato":"2 minuti"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/dji-staring-contest\/","url":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/dji-staring-contest\/","name":"DJI Elliott Wave: Bulls and Bears in a Staring Contest - Alchemy Markets","isPartOf":{"@id":"https:\/\/alchemymarkets.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/dji-staring-contest\/#primaryimage"},"image":{"@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/dji-staring-contest\/#primaryimage"},"thumbnailUrl":"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/08\/DJIA-featured-image-bulls-and-bears-staring-contest.png","datePublished":"2024-08-12T22:59:32+00:00","dateModified":"2025-05-14T09:33:35+00:00","description":"After last week's strong decline, the DJIA Elliott wave count hints at more losses to come. Discover the two main models we are following.","breadcrumb":{"@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/dji-staring-contest\/#breadcrumb"},"inLanguage":"it-IT","potentialAction":[{"@type":"ReadAction","target":["https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/dji-staring-contest\/"]}]},{"@type":"ImageObject","inLanguage":"it-IT","@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/dji-staring-contest\/#primaryimage","url":"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/08\/DJIA-featured-image-bulls-and-bears-staring-contest.png","contentUrl":"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/08\/DJIA-featured-image-bulls-and-bears-staring-contest.png","width":1792,"height":1024},{"@type":"BreadcrumbList","@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/dji-staring-contest\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/alchemymarkets.com\/"},{"@type":"ListItem","position":2,"name":"Market Insights","item":"https:\/\/alchemymarkets.com\/education\/market-insights\/"},{"@type":"ListItem","position":3,"name":"DJI Elliott Wave: Bulls and Bears in a Staring Contest"}]},{"@type":"WebSite","@id":"https:\/\/alchemymarkets.com\/#website","url":"https:\/\/alchemymarkets.com\/","name":"Alchemy Markets","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/alchemymarkets.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"it-IT"}]}},"_links":{"self":[{"href":"https:\/\/alchemymarkets.com\/it\/wp-json\/wp\/v2\/market_insights\/5163","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alchemymarkets.com\/it\/wp-json\/wp\/v2\/market_insights"}],"about":[{"href":"https:\/\/alchemymarkets.com\/it\/wp-json\/wp\/v2\/types\/market_insights"}],"author":[{"embeddable":true,"href":"https:\/\/alchemymarkets.com\/it\/wp-json\/wp\/v2\/users\/160"}],"replies":[{"embeddable":true,"href":"https:\/\/alchemymarkets.com\/it\/wp-json\/wp\/v2\/comments?post=5163"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alchemymarkets.com\/it\/wp-json\/wp\/v2\/media\/5164"}],"wp:attachment":[{"href":"https:\/\/alchemymarkets.com\/it\/wp-json\/wp\/v2\/media?parent=5163"}],"wp:term":[{"taxonomy":"market_insights_categories","embeddable":true,"href":"https:\/\/alchemymarkets.com\/it\/wp-json\/wp\/v2\/market_insights_categories?post=5163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}