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<<<Small short Dow at 29500 … stop 30200 … limit 25000>>>
Closed at 29270
Never give up, never surrender.
Dow will have to play catch up after monday holiday.
Odds are spill down then S1H
I will make a note of the last hour and futures after that.
No position but I would like to see Dow 29400-29500 and
that is the only time / price to suit my trading plan.Never give up, never surrender.
Small short Dow at 29270 … stop 29900 … limit 25000
Not the entry I wanted.
A continuation of the original short.
Never give up, never surrender.
SPX: I’ve updated my roadmap chart for the close last night. It remains the case that given all the various options this entire advance looks like a ‘three’ with some sort of triangle shape in the middle.
The three idea is confirmed (so far) by the MACD which is still showing divergence. If this is a five (and currently third wave) one would expect to see a higher high in the MACD. That of course can still happen.
From the middle triangle the two targets I can see are 3,453 and 3,567. Once/if it enters the target box then perhaps the upwards shape will be more clear.
Note: I’ve seen a number of reports suggesting the market advance will/might continue into April based on Fed liquidity flows/proposals. And one or two of the big players have suggested 3,500 also based on liquidity. That would all tie-in with my chart, but whether any of that will actually happen remains to be seen.
Good Morning Cimac Hatman et al
Good luck to us all
Small droplets of rain turn into Rivers, Streams and Mighty Oceans
DOW: if we assume the same ‘three’ pattern for the Dow we get the targets shown on the attached chart. Note that the MACD is showing slightly greater divergence. There is also a *possible* inverted head and shoulders thing which targets 31,500 slap bang in the target box.
From a strategic point of view, if the SPX and DOW ‘three’ charts are correct then at some point the markets have to decline quite significantly to overlap SPX 3,000 and Dow 26,600 or so.
Central banks are pumping liquidity, which is what seems to be inflating these markets. China is injecting huge funds to help the economic risk of the Coronavirus.
However I’m concerned to see today a further 15 cases announced in Korea, the biggest so far. I wonder if the markets continue upwards spurred by ‘helicopter money’ but eventually the virus takes its toll on the world economy. Time will tell.
The numbers for the markets might look a little frightening and ‘impossible’ but in percent terms are really quite small. For instance the middle target for the Dow at 30,600 is just 4.4% above current prices – a mere drop in the ocean.
Whenever it arrives,this pullback is going to be faster and steeper than a lot will expect.ive lost count of “winning shorts” ive taken that have ended up stopped out at b/e.my own fault chasing the bigger move…feels designed,most will have broke before the downtrend finally starts,
Although right now it looks like we,re going up into eternity..nothing matters but buying the dip?My work indicates the bears have until the weekend
and next week the bulls come roaring back.Never give up, never surrender.
FOMC minutes at 19:00 gmt
Could be a market mover if Fed repo is mentioned.
Never give up, never surrender.
Small short Dow at 29270 … stop 29900 … limit 25000
Not the entry I wanted.
A continuation of the original short.
Closed at 29310
Looks too bullish in the US for cash today and after hours futures.
The window for shorts gets smaller … maybe thursday friday.
Never give up, never surrender.
Ill go for a choppy day today..3372-93?
Yes I think hatman is right and we will have to wait
to short the …. out of this market !Never give up, never surrender.
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