on the flip side, as close above 24555...today....and a hold above this level....would mean a the bulls closing up shop......and packing up.....because it would effectively mean this correction is over imvho....
Trying to hold onto 12433, needs to. DOW trying to hold onto 24516 or we might see our friend 24485 again. DOW Is holding this lot up again. Crystal ball says 24516, 24533, 24539, 24571,24591,24607,24612 and 24650 to 24657 then we wait till 6pm for rocket to the moon.
Right back to where it was Friday about this time, 24485. Which was the buy trigger.
Today we have
BUY DOW 24582. That seems a hard nut to crack just above the down channel now, so you never know.
SELL DOW 24426.
BUY DAX 12559
SELL DAX 12489
Unfortunately I have to go to Hospital today, would you believe it, I now have a very large gallstone on top of every thing else, about 1" sitting right in my bile duct so today I see the anesthetist, because of my pacemaker, pre-assesment next week and probably operation in a few weeks time. So I will miss a lot of the action.
Good luck to you all.
" THE FTSE, THE FUTURE, The... whatever. (FTSE:UKX) A weekend with some truly surprising results. Apparently the West bombed somewhere without Russia intervening. Perhaps it was the Norfolk Broads, thus unnoticed by the media. More importantly, ..."
WOW, doesn't it show Fridays action to perfection, no hindsight charting there, just the strength of the trigger points. A nice piece of work I must say.
I still run XP sp2 on an old computer 850MHz 780 RAM I'm afraid and if I have a chart up whilst streaming live Market prices, my computer slows and hangs to much to be able to trade effectively, It also was not able to run pro real time which is a shame. I keep an xls spreadsheet open during trading and have the highs and lows mapped out so I can quickly reference them. I have lots of issues running an old system antivirus etc but I love XP and prefer it to my Wife's windows 10 which I can tell you is nothing but a pain.
I hope you get some help out of your good work and it arms you with a bit more elbow power in beating these market makers. ( I do not like them at all)
good luck with your trading.
I'm picking up very bearish undertones reading your outlook my friend. Don't you think someone knowing about the missile strike Thursday evening had something to do with Fridays actionit? The daily chart on Friday morning was turning up RSI, EMA, MACD, STOCH, CHAIK, and MOMNTM had been rising for 9 straight days. It's earnings season as well! I think it's on a knifes edge which way to be honest, but am siding with the Bulls. If Mr Market sees Fridays events as just a hiccup, then I expect to see a continuation of this breakout.
Good Luck with your short.
this rejected some key technical levels on Friday. That sort of rejection does not happen for no reason imvho.....this market has failed to break out from the downtrend.....and until it does that.....longs are still a no, no....imho....nay longs here, would be jumping the gun.....and dangerous.....with a possibility of getting locked out....
That doe snot mean it will not break up.....but we need 3 x close, on end of day closing basis....or weekly close.....above the t/line and 50 day ema line feature....to confirm....
no confirm....no higher....and we saw what happened on fri, as evidence as why that is required.....some bulls thought it was the real deal....but it wasn't....
This currently in this mini pennant....and a break will provide the direction...possibly for the week.....
I still think this drop again to the 23500 area....so i'm holding my short....lets see...
On Fridays events. Late Thursday pm as soon as the futures opened up there was a rapid drop in the index ( strange after being very bullish) and it did not want to go up? being held down to 24400 levels all night, then as soon as 6am arrives we have a sudden rise bringing about the triggering point of my system, Buy at 24485. However by doing this the Market was over bought. So how could you by. Well as we all Know, it reached over 24650 by 2:30 pm way over bought. I thought, and posted, this is going to have to consolidate for a while, but what happened, a very quick reversal. My buy trigger 24485 was quickly hit and later in the evening the sell trigger of 24396 was broken going as low as 24243.
What I found amusing and so orchestrated was the shenanigans at 6pm and 7:45pm.
6pm for 1 hour it would not drop much below 24400 and not go over 24460, made you think there was support, but as soon as 7:45 came along Boom straight down to the bottom. Only MM's push at the end to recover somewhat. I don't know about you, but watching these markets lately there seems to be a big difference in the action to what we had when Quantitative Easing was around, the rally's do not have the same conviction and lets face it would you buy at these levels? The big drops are for the Institutions to get in I am sure. The UKX shares seem to have been drifting sideways for an eternity, only the divis to keep you excited, and if your company reports any bad news, well boom down she goes in a big way. Makes you think that as soon as the Fed and the banks have their money back we might see some more lower lows, and that will be soon because you have to make the share price attractive for the punters in relation to any div's . I think BARCAP is probably correct in is trade.
Anyway an analysis of my system on the week!
Monday Buy DOW 24144 SELL DOW 23950 Actual price in cash High 24374 LOW 23955
Lots of points to be made there!
Tuesday Buy DOW 24400 SELL DOW 23977 Actual High 24509 LOW 24229
And again more points
Wednesday Buy DOW 24395 SELL DOW 24276 Actual High 24366 LOW 24149
Lots of Points to be made to the downside
Thursday BUY DOW 24310 SELL DOW 24206 Actual HIGH 24592 LOW24350
Mega buy day!!
Friday BUY DOW 24485 SELL DOW 244396 Actual HIGH 24657 LOW 24243
A Stellar Whipsaw day!!
Was that simple or not??
Strangely when the US goes to war, the Dow does rally.....question is - will any moves up be a good shorting opportunity or "onwards & upwards 30K here we come!"?
My stance with the DOW has always been cautious, the only time I've held more than a couple of days onto a Dow position this year is due to being in the red and waiting to get back at b/e or if I'm lucky to profit.
It's got a HUGE in between range of resistance and support and can easily burn you (either way short or long) at any given time :/
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