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A good day for traders with stocks showing up and down moves.
Atm Ftse ranks as a draw(this may change) txt bulls and bears as it
has lacked the extremes of the Dax. US still to make it’s mind up.Greece newsflow and the vested interests of friday’s OE are the
twin wildcards for the rest of the week.Never give up, never surrender.
I have found another source that has friday 15th May as
a low, maybe an important one at that and it relates to
the US stock markets, mostly s&p.My own analysis has monday as the low but I would not
be phased if it was friday, it’s all in the margin of error.My only concern is OE on the friday. Does the big money
want a low tick expiry.Never give up, never surrender.
This week there are almost daily moves which look
bullish or bearish, some days have both !Cits are subject to inversions and yes it appears
that in some systems you can have ‘h’ follow ‘h’
and or ‘l’ follow ‘l’ which is not perhaps the
sequence one would think possible.As for important lows. If the Ftse were to test
circa 6800 and bounce. That would be important
as a near term double bottom, within a pattern.Confused by the above ?
Your not alone 😉
Never give up, never surrender.
I find I have not been trading spoos at all of late bar one short last week that I closed for 5 handles. Can’t make it’s mind up.
Ftse daily chart, tuesday candle is the daddy atm, as
wednesday stayed inside. Thursday may break out and
the odds favour lower. Dax no help as it’s the weak.Never give up, never surrender.
Wednesday the Ftse made a late fake up move into
the close circa 6950 then we gap down today.That two way trick takes bull and bear stops
and it’s not the first time we have seen
this play lately.It will not encourage traders on sidelines
to start trading again.I avoided both traps as I was waiting to
see the first hours action. But it does
feel that I have also been lucky.Never give up, never surrender.
Ftse tuesday lod and 6800 zone are the bears targets
and we are at the first.Bulls hope that this is a euroland fainting fit as
the US futs are holding up atm.Expect the unexpected and for more traders to get
their stops eaten, imho.Never give up, never surrender.
Now we have US pushing and euroland watching.
I would like to see common ground at 17:00 (16:00 gmt) as that
would allow about 2hrs 15mins from now for markets either side
of the pond to settle. I know by then euroland will be closed
but it’s ooh prices will do, for a relative comparison.Atm we are going for a ‘h’ tick options expiry unless some
sort of event kicks in. Low cit on the 15th in danger of
an inversion, unless they claim 14th which would be all
ok for euroland, I guess.Never give up, never surrender.
US action so far on the Dow is very bullish and IF there
is no drop a.s.a.p. then we could see a very ‘h’ print
into my 16:00 gmt, price check. It’s still 1hr 50min
away so plenty of time for the bears to burst this
balloon, best they start now.Never give up, never surrender.
It’s all about odds, as none of us are clever enough
to ‘know’ as that is left to God.A CIT can be ‘h’ or ‘l’ and an option expiry can be
on an up or down tick or ‘h’ or ‘l’ if you like.So why when we are so near OE and a cit are some
traders still going short. This close the odds are
the direction or lean is a done deal.Start to phase in a trend change plan, yes.
But do not go in hard against the incoming
tide. Wait until it starts to retreat.Never give up, never surrender.
Ftse and Dax are about to close at or near their hod and
it would be brave to bet the Dow etc will not follow.I have to go out tonight and may not trade again until
after OE and the new moon on monday, as I am happy
enough with how this week has gone for me.Never give up, never surrender.
I had dates in March through June and prices 7050 – 7200
for a Ftse cit then down into Sept – Oct.So far we did drop on first kiss of 7050 in March and
then 7150 in April but we still have not broken down.As this year so far has been kind to me, I can now
focus on other projects but will divide the short
trade I want into five and place entries for
7000 7050 7100 7150 7200I have allowed for the Ftse to not hit any and to
hit them all plus a good chunk higher so that I
will be ok regardless of the outcome.My day trading and posting will now be on ad hoc
for the summer months.Never give up, never surrender.
The low cit for 15th looks like an inversion.
Vested interest in an uptick OE.
New moon on 18thFtse had a ‘h’ in March, a double ‘h’ in April
and the early ‘h’ in May which still holds.
If we do not decline soon then it would be
all eyes on the June Bradley date.Never give up, never surrender.
I have three trading advisories that i value & pay for monthly.
They are KPAD, Rod David (ex Avid Trader Chat) and Smartpredictor ( Chanakya)
Chanakya has agreed to broadcast his new spx chart today per copy email.
I will try and attach or upload.
be warned – it is BULLISH!
by chanakya Today, 01:02
Team: Here you go. Let us put this to test. In fact, post it up or share it whereever you would like on the blogosphere. Thanks!
Attachments
20150514 $spx time to rock and roll.png
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