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so the market gaps again and now back down at support levels……. I’m awfully tempted to try and catch a falling knife on these levels. there will be a spike when they raise the debt ceiling and when the shutdown ends, but the question is where doe it go via, hmmmmmm
Firstly Ark well done for starting a thread this side. I was wondering who would make the effort lol.
Secondly well done for changing your avatar. I trust it was an easy experience.
As regards markets, indeed with WNER one would think it has a pull upwards but I woudl prefer to wait until RTH to see that before longing.
I posted alot of levels on the other side but for this week, these are the levels on SPX cash for me.
SPX wise MUST HOLD support at 1679 and resistance at 1695.
A breakout of any will lead to a breakout!
These are very important levels for this week
I have maintained my negative bias and that we are in a downtrend and although we have had sharp rallies recently, I maintained that into the weekend and unless THE BULLS break up, I will keep sticking to that stance.
Problem is the US Government pollux makes it hard to long here despite the WNER bias and likewise you cannot short a -13 incase QE pumps it.
So here for me there is nothing to do but to wait for direction in RTH via seeing if SYSTEM GFS (Gap Fill System) triggers
Plan your trade, trade your plan!
Have to say Ark there will be spike for a resolution… but with EVERYONE looking for it is it still likely…
the resolution better come pretty soon for the bulls 🙂
oscar cautiously bullish
http://www.youtube.com/watch?v=7zMGoDh3T_s&list=UUez8uA1o_fDYsrSf4auWSjg
I turn my phone off for the afternoon and look what happens !! That’s the last time I’m going to court !!
so technically it has broken support, the world is about to end the US is about to default, the charts have broken down (is this the early sign that the default is real), yet here I am thinking, hmmmm I want to buy this drop, the dow at is SEP lows, the nasduck in the same arena… ah I know tomorrow morning I’ll switch my SIPP out of short funds back to cash
Just wish I’d been short the futures too though, that would have been very nice, well done all who were
Mmm interersting Ark, I have gone long on the SP in my sipp, but am running my FTSE Â short as a hedge.
tight stop on the long tho as its a key area…larry P also has us rallyinh into first week of november.
http://www.youtube.com/watch?v=MjxV8QX3mJ8&list=UUez8uA1o_fDYsrSf4auWSjg#t=683
ps did u apply for any of the royal mail shares?
very close to 200 dma on dow, incidentally which code is it for futures trading in a SIPP?
Na, I don’t do individual stocks, I think they carry too much risk, closed FTSE short In the sipp just after open, all in cash now. Vix and Dow and s&p re me to long side though moment and trend is down….. I should know better than to try and catch a falling knife !
What’s next?: We should continue to decline and make an 10/4-7major Low. I don’t have any high quality Time CITs supporting thisCycle CIT Low date, but the next Solar Time CIT on 10/9 should be another Low. In general, it is the Bulls turn to stampede higher into my next proprietary Time and Cycle cluster CIT.
This is my last public post for quite some time as the coming weeks should be a wonder to behold.RajThanks Gman, Â Not sure why you thought I would be interested in this but I am. A while back they found a gold necklace in a peice of coal estimated at 320million years old and a wooden doll est 3oo million years old. Avid Ancient Aliens watcher, fascinating stuff.
I’m hoping for a bottom today, if you know what I mean,lol
Gekko,
Just for the record, I feel I should quantify my post above, when it comes to my pension/SIPP I trade relatively short term literally to make 1-2% on each trade, anything else is a bonus. That way I figure if I can do 1-2% per week then the end of the year looks much more rosey, find me a fund manager than can achieve 50% growth a year for free 😉
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