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This drop is most welcome for bears but I also wonder
if it will not last past thursday and be a launch
pad for the next wave up.Enjoy and move those stops.
Never give up, never surrender.
Looking for a July low , an August high ( no idea if higher or lower , but anything possible on Aug volume) , then finally the big correction , which it’s probably best not to speculate on.
It would be nice if the July low was c 1900 , but the 1929 area might be all it gives us.
No plan has worked out this year , but that doesn’t stop me from trying to ride what should be a fairly spectacular Q3/4.
This Ftse drop is more than I expected and that throws
a few wave counts out the window.Ftse 6700 is still the line in the sand but for sure
the bears have control below 6800, imho.As for how this all turns out, I am with baaa, just
trying to make a profit and keep my shirt 🙂Never give up, never surrender.
For the Ftse this could be the most important day
of this week, as we see what kind of bounce off
the 6700 support zone we get. I wrote lastweek
that mon-thur was the bears drop window so if
they were not to take out 6700, it may open
the bulls window for a run at 6900, imho.BoE thursday for Ftse and Cable is worth a watch.
Never give up, never surrender.
from Smartpredictor Blog
http://smartpblog.wordpress.com/
$spx – week of July 7th, 2014 – potential for mini-crash.
$spx remains on SELL against 1984 $spx SELL trigger on Monday based on Smartp System. Subs were advised to SELL SELL SELL on Monday.
A dramatic decline is possible before this week is out. If this does ensue it will hit 1926 $spx.
Best wishes
Lordia
Cheers lordia.
I have read that some in the US think we see a US low on thursday
for a buy into OE on friday 18th July. I thought this was a quad
only thing but lets keep it in mind.Ftse 6700 now and you can see on charts how the next moves are
in the +100pts per day zone. That would apply to up aswell so
it’s fun if you like that sort of thing.Never give up, never surrender.
The EcB president Mario Draghi will be in London tonight (20:00) to
give a speech. I guess we must listen for any signs that the EcB
are nearer to QE etc.Never give up, never surrender.
I am going to take my normal Cable trade size and divide by four.
Then set entry orders to short Cable in these quarter sizes at
1.7150 1.7200 1.7250 1.7300As per kpad guidelines, no advice intended, just FYI.
Never give up, never surrender.
Stand a bit back on a daily chart and the Ftse and Dax have
a wedge with a flat top and a downward lower slope.Europe has fallen more this week, so, does europe rise to
the US or does the US fall to europe.Never give up, never surrender.
My thoughts lastweek were the bears had a mon-thur window
and still Ftse 6700 sandline remains. A close below is a
must for bears and bulls have to atleast keep any close
below 6700 to a single day, imho.Let’s see how we go.
Never give up, never surrender.
Dow looks like ‘a’ down from the recent high and the ‘b’ up
done late yesterday and a nice ‘c’ down today. Hard to go
against simple chart patterns.Caution against this nice bear earner turning into a trap
as a low before up into OE etc.Dax and Ftse confirm the reasons to expect down but also
signal a slight warning of a quick reverse up again.Today or early friday we should know the answer, imho.
Never give up, never surrender.
Levels we just hit like Ftse 6660 Dax in 9670 are both on
downward lower channels and hence are well watched.Therefore bears and bulls will want to control them, imho.
Never give up, never surrender.
Closed Cable short from 1.7150 at 1.7110 for +40pts.
No positions open atm.
If this drop in Ftse and Dax etc is a fake break down to
allow loading up longs for july OE then it’s a good’un
as euroland is already over the sand lines, imho.Just move those short stops as it would be a shame to
give it back, short profits have been tough to get.Never give up, never surrender.
Europe in a downtrend cimac – states to follow if we break 1953.
1929 or 1900 area will be LIS for a significant rally imo
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