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Monthly candle on spoos is engulfing as it stands which may suggest a change in trend if it holds. I think January’s candle engulfed in a positive manner and it’s been up since then….
The bigger picture is now more even odds bull vs bear
but for monday it’s more clear cut.If the late friday US selloff was the real deal then we
gap down, else it was a bear trap and we gap up.FMOC on wednesday.
Quad oe friday.
Elections in Japan and Greece.
EcB qe news must also remain on our radar.Never give up, never surrender.
First event is the election in Japan where the odds favour
no change. This would delay the 2% sales tax rise which
is due in 2015 and would be a vote for the qe program.So no change gives markets a boost but any change in the
balance of power would be a big downer as it would be
unclear what would happen to the qe program etc.Never give up, never surrender.
When’s the Japan elections cimac?
In progress right now and exit polls suggest no change
which should be a small market positive as opposed to
a large negative if there was a change of leadership.Never give up, never surrender.
Middle East stocks tank more
Light Crude @ Fri 12 Dec 14
From the 3rd January 2014 update: “If a C wave is in play here, the 1st and 2nd waves shown project a US$61 bottoming target (35% below today’s close).”
Light crude plunged through that $61 target on Wednesday (red horizontal).
For that count (shown in grey) to remain viable the 4th and 5th must play out into a bottom around this level; the MONTHLY chart shows the significant diagonal and horizontal support here.
Further selling that takes out that support would favour the more bearish count shown on the chart, a count that projects an eventual bottom around US$15 (blue horizontal). Light crude’s last secular bear market bottomed at US$10.65 late in 1998.
Cheers WND
Oil at $15 would be a world changer. Could even cause wars
as there would be many countries plunged into the do-do.Never give up, never surrender.
Should bounce off late friday lows but can the market
get above Dow 17500 – s&p 2020 and hold or will it
just be another short entry. Find out later.Never give up, never surrender.
So far the late friday US bears look to be heading for the
trap and those using spread bets will be in there already.When a market has been shaken it sometimes takes a clear
level of support to build before buyers come back. I am
thinking of a DB as most would know that pattern.For me the US close will tell more than the open.
Never give up, never surrender.
In general terms today was expected and now we have euroland
replacing ooh lows with rth lows.Next phase is what will US markets do once euroland closes
as it will kind of set the tone for tuesday.Never give up, never surrender.
38.2% retracement on spoos daily approaching, see what that does. looking for volume capitulation…. its like getting into a known infested water every time I do a trade at the moment, lol piranha, sharks and sea snakes ready to take you out…… expiry makes me twitchy lol…..
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