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Wow, the bulls have really excelled themselves, bought the jobs dip back up and then a shed load on top. I expect there’ll be some spill to the upside Monday morning and then……?
I’m not totally surprised by this, I said a few days ago that if the August low is to be tested they will probably run it up somewhere near the FED high first to get as many shorts out as possible.
Ftse bulls got their 6250 and some more. Now they have
to hold onto these gains into the weekend.Never give up, never surrender.
Ftse bulls got their 6250 and some more. Now they have
to hold onto these gains into the weekend.At some point since the 24th Aug low the ftse hit 6301 (I can’t
be bothered to find out if in rth or ooh) so this is the level
which has to be broken, with a proper, sustained move.If I were forced to choose, I would short 6300 with a small
trade and a stop, rather than long any break upwards.Never give up, never surrender.
😉 nearly 100 handles up in 2 days! friday was the buying opportunity of a lifetime! all stocks are cheap and every economic and global concerns are moot!..wild days.
Seasonals show a risk of a crash in October but also
it can be the start of the rally into Xmas.We were comparing this year with 2011 and thus far
it still fits. No crash in October 2011 fwiw.One possible is a fighter plane is shot down and
that causes a mini crash drop to fit October,
then we recover towards year end.Never give up, never surrender.
I was looking at a count for the Ftse from the low on 24th Aug.
Wave ‘a’ went to approx 6300, then ‘b’ down to the recent lows
and that could give current wave ‘c’ upto circa 6500, to then
complete the ‘abc’ retrace before a lot of downside.Just an idea to conjure with. All seems very risky out there
and I still remain on the sidelines, until January, fwiw.Never give up, never surrender.
If the Ftse is in an ‘abc’ with a possible 6500 target then
having already touched 6397 puts the index in the red zone.Algo’s tend to play hard ball with stops which can make
for under and over shoots of ‘normal’ targets.Trade with great care as I doubt this week will pass
without atleast one more very sharp move.Never give up, never surrender.
Hi cimac,
103 points is some undershoot though. I would have thought it needs to get a bit closer than that to call the abc complete wouldn’t you say?
Hi cimac,
103 points is some undershoot though. I would have thought it needs to get a bit closer than that to call the abc complete wouldn’t you say?Yes, not normal but markets seem to be rewriting the dictionary.
That stall and and fall from 6397 would have taken some long
stops so maybe time for a run up to take out short stops.BoE and EcB seem to have supported stocks so let’s see if
the Fed minutes can add to the upside into US close.Never give up, never surrender.
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