- This topic has 245 replies, 3 voices, and was last updated 3 years, 3 months ago by
.
-
Posts
-
Small short Dow at 27300 … stop 30000 … limit 17500 ( x 2 )
This is my hold over the weekend.
Never give up, never surrender.
US markets have got through October and keep rising !
Never give up, never surrender.
S4H normal today closes at or near the hod.
S3H on monday if no inversion to the rota.
Atm it’s bullish until it’s not which most likely
equates to a surprise drop is required.Never give up, never surrender.
DOW: interesting how the Dow tested that trendline from above several times then shot upwards on Friday. It seems clear that this market wants a new ATH. What shape it will take to get there is difficult to tell. This latest move doesn’t count nicely as a ‘five’. It *might* be a rising wedge in early stages as shown on the chart.
There are several upside targets, the lowest one being around 27,465, the next being 27,550 and then around 27,600.
Whatever happens, there’s clearly nothing on this chart to suggest one should be short (at least not for the moment).
DOW: if the market is rising in ‘threes’ then the big surge on Friday was likely wave ‘c’ of something. There’s a target at 27,370 where c=a which *might* be a point for reversal down to overlap the action at 27,150 or so. But even if that happens, the market should go higher (in overlapping fashion) to at least the first target in the 27,465 area.
It really isn’t clear, and all a bit scrappy, except that this last surge is clearly a ‘five’ perhaps not yet quite complete.
SPX: the rise upwards in spx looks much more like a ‘five’ compared to the Dow. This move has already exceeded the possible c=a from the low, so the only calculation remaining is the possible triangle B wave in the middle (see chart).
If we assume that triangle is valid (it might not be) then the c=a occurs at 3090/3105. It certainly looks like the market wants to attempt that area.
On the SPX chart notice that there is an unfilled gap way down at 2955. Any correction downwards might want to target that gap, perhaps to coincide with the rising lower trendline.
Cheers hatman
From monday it’s back to daily STD trading for me if
only to fund my 24/7 drop guard.Never give up, never surrender.
DOW: my ‘leading diagonal’ idea continues to take shape, with the Dow now within sight of a possible C wave peak in the 27,525/27,550. If this shape is correct, the Dow should correct downwards to the lower trendline or thereabouts.
If that route plays out for the Dow
then I will be a happy trader.Never give up, never surrender.
RUT: the Russell appears to be trading sideways in sequences of ‘threes’. It might be trying to form a long B wave triangle.
For the current move c=a at 1600. Clearly if it goes above 1600 something else is happening.
If RUT does peak at 1600 that won’t necessarily signal a peak for SPX and Dow, but might be an early warning that a high in those indices is near.
Run up on the Dow futures to 27400 + 27 ( to clear stops ).
We are still waiting for a pean trap off a high tick.
Never give up, never surrender.
Target areas on my most recent charts were:
Dow around 27525/50
SPX 3090/3105
Whether we will hit those areas remains to be seen. There might need to be a small pause 4th wave thing first. And much will depend on what the RUT and DJT look like.
- You must be logged in to reply to this topic.