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Closed both Dow shorts at 28475 for net b/e
A big gamble that the Dow will mimic Ftse and return to the hod.
Never give up, never surrender.
There is a viable count for the Dow circa 28630
but if we go much higher then 29000 and over !I feel I have worked hard at this ‘game’ this
week but also hard some luck.I will take a well earned rest and try not
to come back until September 😉Never give up, never surrender.
Powell playing it cool and no boat rocking but also
no magic just hard work ahead.Like in the UK where we have crushing debt levels
and some dark days to come.I am lucky that so far this covid19 has not had
a great impact on my life, just a nuisance.Never give up, never surrender.
I have a feeling that we are at or close to a peak here.
Unfortunately I cannot verify that with numbers. My SPX target was 3,466/72 and it got to 3,500 which is way above my target.
I don’t have numbers for the Dow.
For NYA I had 13,079. It has touched 13,100. That might be close enough.
Today is STD day 4. I want to see some indication of a peak and reversal on the charts. Might have to wait until tomorrow.
SPX: I have revised my target for wave iii by moving wave i upwards slightly.
The new target of i*1.618 is 3,516 or thereabouts (see chart).
I’ve also marked a ‘wave 1’. I don’t think it is – I think it was the middle part of an abc. But it *might* be a wave 1. Interestingly 2.618 times that wave gives 3,497, very close to the 3,516 target.
Today appears to be STD 1. Reading the book again, I see that it’s possible (and common) to get a thrust in the wrong direction at the beginning of Day 1.
SPX futures are currently trading close to my 3,516.
The alternative is that we’ve seen the top of wave (iii) and need just a little more time to create a 4th wave. That could last Friday through Monday.
But for the moment futures are indicating a spike higher into the target zone.
US stocks round numbers like Nas 12000 & Spx 3500
attract a lot of attention. Futures sneak up and
take out stops overnight. It may be another sign
of a reversal point of sorts.US cash will be worth watching as will the
reaction of Ftse & Aus200 as they seem to
be reluctant to join in this week.Never give up, never surrender.
Small short Dow at 28600 … stop 30600 … limit 24600
Closed at 28525
Never give up, never surrender.
Small short Dow at 28650 … stop 30650 … limit 24650
Closed at 28600
Never give up, never surrender.
Small short gbp:usd at 1.3300
Risky trade.
Based on the Powell 3 way reaction.
Never give up, never surrender.
Small short Dow at 28600 … stop 30000 … limit 24000
Closed at 28575
Never give up, never surrender.
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