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FTSE 100 Daily chart
Based on the position of the 34-day BTI I believe that the rally will extend above the previous high set on 2nd August [6696]. However, there are still some potentials market moving events ahead like Wednesday’s FOMC meeting and rising bond yields.
When the 34-day BTI is below -400, the FTSE is near a bottom. It is conceivable that the bottom was on 22 August and the current rally will extend. The 34-day BTI has turned up.
At the moment the other component of the ESI, the BTI, is down but the 34-day BTI is up, when the two indicators are in opposite direction we should be neutral until the two confirm each other.
If the BTI turns up, and I will alert you when it does, we can increase our long exposure. I think the FTSE is tracing out an upward zigzag for wave 2. Wave 2 should end near 6800 sometime this week or next week. Thereafter and going into October I expect another sell off.TL.
What gives Nas leading the way and has all most sold off the overnight gains yet ES and Dow have hardly moved?
Confussed.com
I posted this earlier on the subs side Arj and it may answer your questionKhalsaLow was 17700.50 then.GFS has triggered borderline. Normally that is good but for today I would be cautious basis it is WNER day and there could be an upward pull. That may just mean a go nowhere day from here, but it will also mean a “supported” type day.
Any other day I would back a borderline GFS but have to play very cautious in crooks quad oe week
Plan your trade, trade your plan!
lol.. might as well start learning the lingo again mate.. I take it WNER = world not end rally.
No sure what GFS is though?
Yes perfect for WNER.
GFS is Gap Fill System.
Its a very reliable system.
Full GFS means gap fill PDQ very early on.
Borderline GFS usually means it can take the whole day to fill.
However with crooks quad oe week and wner combo, I sadly cannot take the risk and back it short. There will be safe trades.
Plan your trade, trade your plan!
Agreed! never know what they are going to do. Small binary for S&P to finish down might be worth a go.
lol Paps, welcome to the all new Khalsaspad. You got the perfect avatar!
Arj … Indeed 1700 is support identified this morning and then 1695. Only below 1695 can I even begin to think down.
Plan your trade, trade your plan!
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Plan your trade, trade your plan!
Never mind the “perfect avatar”, where’s my butterfly, can I import it?
Got a question on VIX, what number on the VIX is considered bull/Bear i.e above 16 = Bear etc..
This post will help you guys alot with some of the features here.
http://khalsaspad.com/wp/forums/topic/welcome-to-the-all-new-khalsaspad-forums/#post-275
Plan your trade, trade your plan!
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