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Small short Dow at 26000 … limit 25900
Playing the odds outcome of an AM ‘l’ PM ‘h’ a la S2L normal.
If my target is not hit in the first 60 – 90 minutes then
it most likely will not work.I may move stops, when possible or keep the trade as my
guard against a surprise drop.Never give up, never surrender.
Small short Dow at 26050 … limit 25950
Same idea as in the above post.
With these two short Dow average entry 26025 I expect
to have an active PM after a lazy AM !Never give up, never surrender.
Small short Dow at 26050 … limit 25950
Same idea as in the above post.
With these two short Dow average entry 26025 I expect
to have an active PM after a lazy AM !Closed at 26020
I may regret this but guarding profits is more
important to me than gaining profits atm.Never give up, never surrender.
Small long Dow at 25695 … stop 25000 … limit 26000 ( x 2 )
If the 30th August is a ‘h’ then all is well.
Never give up, never surrender.
Small long Dow at 25695 … stop 25000 … limit 26000 ( x 2 )
If the 30th August is a ‘h’ then all is well.
Closed at 25915
Take the money and run.
That was spill up to seal tuesday S2L
Never mind the euroland negative vibes which pulled down Dow futures.
That is me done for today … thank you tepid
Never give up, never surrender.
I will now wait and see if we get the Dow ‘h’ circa 30th August
which did look a no chancer earlier when euroland was weak
and that dragged down Dow futures.I still think it has a good chance but I do not trade chance.
I am away now to sample some very nice French red !
Never give up, never surrender.
The universe is a power house.
We humans try and play God but we will surely be
brought to book even if we appear to rule.Short Term Delta with its Sun Moon Earth rulers
will let the children play and then snap back
to restore the pecking order.But perhaps the above is rubbish …
Never give up, never surrender.
The two critical days this week were always ‘likely’ to
be monday S1H and thursday S4H ( yet to be proven ) with
the days S2L S3L a kind of filler in the sandwich.Let’s see what happens for Dow cash either late on
thursday or early friday.I think if we can hold today’s S3L as a small down
after the early spill up then the excellent
Dow chart posted by hatman is odds on.Never give up, never surrender.
Dow at 26000 … must be a magnet based on
the number of visits to this price.Never give up, never surrender.
DOW: Dow is trying to complete wave ‘c’ of the triangle (if that’s what it is). There’s a target for the current pattern at 26150 where (c) = (a) and that looks like being achieved via a ‘five up’ for (c). All well and good, and on the face of it a logical place for this wave of a triangle to complete. Notice on the chart that 26150 will achieve a very nice overlap of the previous lows in the 26100 area as well.
On the chart I’ve shown the Delta day sequence. Interestingly we’ve got a couple of ‘ones’ coming up on Friday and Tuesday due to the holiday weekend.
So Dow is following the triangle as expected/hoped. BUT….spx isn’t playing the game as you’ll see on this next chart…
SPX: you can see from this chart that spx hasn’t been as strong as the Dow. There is a strong wave upwards that looks like a five, but I doubt it can reach the c=a near 2918.
In fact, this pattern looks like the middle wave of a continuing three waves down for wave ‘B’. In other words wave ‘B’ didn’t complete a few days ago and needs another downleg.
For spx a falter and top around 2893 gives c=0.618 and opens up the possibility of another fall to around the 2828 area.
Clearly if spx can clear 2893 then something else is happening. But for the moment I think there’s a high probability of another leg down to around 2828 to complete wave ‘B’.
Korea KOSPI: as you know I found it strange the other day when the kospi stopped in ‘no-mans land’ and I felt the pattern wasn’t complete. Since then kospi has risen in an overlapping wedge. Interesting because wedges are usually B waves and that pattern doesn’t fit with a triangle ‘C’ wave upwards. It has also fallen well short of any higher targets.
My conclusion is that this wedge is actually still part of wave ‘B’ down and another decline will ensue to complete wave ‘B’. From todays high a c=0.618 targets 1908, a slightly lower low to complete wave ‘B’.
Conclusion: I think there’s a high probability that wave ‘B’ of the sideways triangle hasn’t completed yet and there’s another drop to come. Today is ‘day 4’ so we could see a high. Tomorrow is ‘day 1’ which might try to squeeze four days of action into one. Any downside could spill over into Tuesday for an ‘inversion point low’ again on day 1 of a new sequence.
Cheers hatman
Dow may stop at 26050 and then have a down leg
to match the spx chart.Never give up, never surrender.
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