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Small short Dow at 28750 … stop 30000 … limit tba ( x 2 )
No way of knowing how high it will go but I want
a foot in the door to test my data which shows
the new ath of this week will not hold.Never give up, never surrender.
Dow has rallied more pro rata than spx
which is what hatman expected.Never give up, never surrender.
Dow has rallied more pro rata than spx which is what hatman expected.
Yes, everyone appears to be piling in to the rubbish Boeing – up 3% or so today, taking the Dow upwards. A quick look at the BA chart suggests a small ‘five up’ so it can go quite a bit higher if it wants to. I suppose they all think 2020 will be the year Boeing gets its MAX problems sorted and gets back on track to being the world’s largest plane maker. They likely will be disappointed. Still, institutions don’t really care – they just balance up their portfolios regardless.
SPX has entered the next target area of 3250/60. After it shot through 3222/5 the odds were that it would move to the next area. Above 3250/60 I don’t have anything until 3290 or so.
No position, except glass of red wine…
Im looking at 3280ish to sell.should see some fibb resistance thereabouts.a clean undershoot of 3400 regardless.mad mad rally.
Small short Dow at 28750 … stop 30000 … limit tba ( x 2 )
No way of knowing how high it will go but I want
a foot in the door to test my data which shows
the new ath of this week will not hold.Closed at 28650 … a quick ton !
Never give up, never surrender.
Lucky break on that one cimac…
Or is it my new timing project … ha ha ha
Never give up, never surrender.
Rubbish market … I will keep my profits and
stand back whilst others fight it out.I have a glass of fine french wine in my hand
a la hatmanNever give up, never surrender.
Using my timing project ( as yet no suitable name )
and cross referencing it onto STD, I get this …
…
Thursday 2nd Jan S2L
Friday 3rd Jan S3L
…
Monday 6th Jan S2H
Tuesday 7th Jan S3H
…
Let’s how it plays out.So far so good … nailed the S2L and S3L this week.
Never give up, never surrender.
SPX: on this rather scrappy chart I’ve calculated all the various options based on the patterns and sizes, and none of the calculations suggest a market peak here.
EXCEPT that the last wave higher from 2850 can be counted as an abc where c = 0.618. That produces a number of 3255 which is where the market zoomed and peaked Jan 2nd. In other words a ‘blow off top’.
3255 isn’t a target in any other way – the most obvious target is at 3453. However if we’ve completed a ‘three’ then it is likely the first part of a rising wedge to the higher target.
Interestingly the same calculation on the Dow gives 28,895 and the Dow hit 28,875 just 20 points shy (probably exact given my calculations are ‘rough’).
I’m not completely convinced, but it’s interesting that for the first time in several months the spx and Dow ‘match’.
NYA: interestingly this calculation also works for the NYSE – the 14,000 peak being almost exactly c = 0.618.
So that’s Dow, spx and nya all now showing the same c = 0.618 pattern.
RUT: I had 1679 as the first target for wave (1) or c. It hit 1681 then reversed, and now appears to be forming a topping pattern.
Regardless of whether it’s (1) (most likely) or c, it should try to return to support at 1600. Clearly if it finds a reason to go back above 1681 then something else is going on. But for the moment I’ll guess ‘topping and reversal process’.
My next trade will be to short Dow futures if
they open tonight above 28700.Still not sure if the cit circa 10th January
will be a ‘l’ or ‘h’.I am in profit for 2020 and I will be happy
to stand aside for days at a time if I do
not see the right risk / reward trades.Never give up, never surrender.
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