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Quite a few things look wrong in time and price today.
It could be BoE thursday and OE friday are distorting
what would seem ‘normal’ for several indicators.It would seem prudent to let these events pass and
then be closer to hatman’s Bradley date.Never give up, never surrender.
Short Dow 18350
No more trades for me until nextweek.
Just for Dan the complete details.
Short Dow 18350 – stop 19200 – limit 15700
Never give up, never surrender.
SPX went straight up to my target area of 2151/4, spending most of the day toying with 2155. So it’s slap bang in my area. Unfortunately the shape of the rise didn’t fit with what I expected, there isn’t really an explicit sell signal (and no classic candle top), and also it happened a few days before the Bradley.
So I’m encouraged that it zoomed to my area and stopped dead. But on the other hand the shapes and timings etc give me cause for doubt.
I’m short, but with a close stop at 58. If it continues upwards through 58 I think my analysis will be wrong, and it’ll be time for a rethink.
I don’t have any other bearish counts, so if my plan fails the market will likely continue much higher, into the 2200 – 2500 area. Of course with the upwards break through 2130 the entire internet is calling for a strong move higher (2130-1810)+2130 and of course that might turn out to be correct.
But for the moment it stopped dead at my target, so I’ll be patient and see what happens.
Original chart:
I’d really like this to be a complete five wave thing, but as you can see it can be interpreted in a much more bullish way.
The Bradley of course does not fit with the idea of a massive bull run. But it’s been wrong before, and might be wrong this time.
Short Dow 18350
No more trades for me until nextweek.
Closed at 18324
I will take a short (sic) break.
Never give up, never surrender.
This of course is what the entire internet is now talking about for SPX – a move upwards equal to the base of the triangle.
There will clearly be lots of longs/shorts at that break point of 2130, and it might be short covering that has pushed us to 2155.
At some point a market will (usually but not always) come back to test the break.
Added short at 2144 Sep,stop 4 pts above yesterdays high..not very confident though,looking strong.the theory is,the whole world and there wife has been waiting for a break out of the long standing range..are they really not gonna burn the initial bulls first? Soon see anyway
Looks like all the Central Bankers had a meeting
and said, ‘let’s crank this sucker up’.Never give up, never surrender.
I closed out my two small shorts – one at b/e, the other at a modest loss. As I explained above, there are too many doubts and I’d rather stand aside until I see a specific sell pattern.
Dow quoted at 18384 as I type … now today is s2 and
whatever you to assign as s1 tuesday, a short here
must shirley return a profit … 18350 (modest).Never give up, never surrender.
Dow quoted at 18384 as I type … now today is s2 and
whatever you to assign as s1 tuesday, a short here
must shirley return a profit … 18350 (modest).Dow 18350 prints 🙂
Never give up, never surrender.
SPX printed a slightly higher high at 2156 but again basically spent the day in my 2151/4 target area. Interesting that it’s paused in that area.
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