" The AIM Market (FTSE:AXX) As we enter the Chinese Year of the Dog, one (we suspect like every Chinese year) which will be blessed with luck and good fortune, a look at the AIM market appeared a good idea. Unfortunately, there's quite a lot ..."
Hi your 244480 just got taken out by my stronger 24505.3 sell signal think a bit more before trading with real cash!! Sorry!!
Not to say it won't be broken again I fancy the DOW wo break through the 505 and push up the DAX above 12309 when the cash moves in, sometime this week anyway.
As a matter of fact, whilst away from the screen yesterday afternoon/evening, I got stopped out for +35 pts as it picked up my perfectly positioned stop before racing back up! That particular protective stop, therefore, protected from making 100s of points more!
Just gone back in long x 1/4 stake at 24480 which is really a gap play (which aren't proving very reliable atm), plus, I think we are due a bit more upside in what I am taking to be a B wave (but of course it could be W2).
As you know it is all about timeframe. And mine tends to be shortterm (very). But I tend to look towards weekly for structural bias.
Thats is still long.
If you look at a weekly (and i cant post it to here from the mobile)
- the 5500 to 7800 run has retraced to 38 around the out of hours spike to 6910.
- that gives a reasonable looking trend.
- there is a parrelel to that ar weekly closes.
- it tested the 100 w sma.
It has not quite done that in cash. This all suggest a bottom may be in for a while at least. I think downside may well be limited to a retest and personally am looking to long around 7070 and 7035. Then the stop wont be too far.
" National Grid (LSE:NG.) It can be quite strange, how some days the FTSE shows as 1%+ up yet from our perspective, nothing is happening. This nonsense occurs when the market moves within trigger levels, essentially pretending to be ..."
" FTSE THIS WEEK (FTSE:UKX) We should find a way of building our articles which gives folks an idea of which bit to read. Due to our habit of giving "if x then y" and "if a then b" scenario, it would be useful if we could always position each ..."
This looks much more bearish then the dow.....and we should get a bounce back tomorrow, but will be a one day wonder....i hope not as i have some long stock positions!
A new low on this correction on Fri.....the area to note on the daily is the how the 20, 50 and 200 day ema lines are all pointing down, and how quickly they are approaching the 200 day ema line!
A crossover of these two lines, would be indicative of mid/long term bear phase imvho...
I don't think it will happen but lets see...
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