- This topic has 243 replies, 4 voices, and was last updated 3 years, 9 months ago by
.
-
Posts
-
David, when you get a chance have look at crude Oil. I think you will like the look of it. It looks very bearish to me 😂
Plan your trade, trade your plan!
What a **** week this has been for me. Rivals the worst week of 2008 Failed agreements and contracts once again. The good news is I am free !!!!!!
Sorry to hear this Chris. I am sure you will bounce back in style. Whatever happens, happens for a reason.
Welcome back 🙂
Plan your trade, trade your plan!
Thanks ‘K’ Next week my girlfriend and I get our delivery of Kimchi and spam. We now need to decide what to drink with it 🙂
Enjoy 🙂
Plan your trade, trade your plan!
My bull/bear project has this week ‘DDDCC’ but next week there is a change to ‘BB???’ with the ‘???’ days not yet computed but currently being calculated. I need a few days rest.
Well your indicator was certainly correct for this week Chris – even though the charts looked positive over the weekend you said this week should be bearish and it has been.
DOW:Â this decline doesn’t look like a five to my eye, more like a large three.
We got the leading diagonal followed by a c=a down to 27,400. That looks like it was ‘wave A’.
Instead of bouncing to overlap it traded sideways which looks like ‘B’.
Now we’ve got the next move downwards where C=0.618 in the 26,700 area or C=A at 26,100.
26,700 has already been exceeded so all eyes should be on 26,100 as a possible target.
NYA:Â a reminder of my NYA ‘wave C big rising wedge’ chart.
Because NYA touched a new high for the last ‘three up’ I’m going to count the DOW in the same way ie a completed rising wedge.
If all this is true, then NYA will try for the overlap of ‘A’ and it’s likely to be a big three down.
Recent DOW chart copying the NYA ABC big rising wedge. I’m taking the recent rise as a ‘three’ which was truncated from the perfect target (yeah, this silly EW stuff).
VIRUS:Â Germany and France have announced full lockdowns for the month of November, basically shutting down their economies.
The UK looks awful and will likely follow.
The big numbers might of course be exacerbated by the increased amount of testing compared to March/April.
SPX/NYA: to confuse matters both the SPX and NYA show possible three wave declines complete at yesterdays low. This conflicts with the DOW which is suggesting lower (but might be wrong).
*if* the three waves are complete we should expect an overlap rally, but this also conflicts with STD which shows a downwards trend.
I still don’t have a position and I’m content to wait particularly given the differences between the DOW and SPX/NYA.
There will be more opportunities, particularly if we get the overlap.
ECB today and US tech earnings may give bulls an S3H
if their luck holds.Never give up, never surrender.
NYA: very similar to SPX. Impossible to tell if this is a completed ‘three’ or ifit will continue lower. The overlap will be the key.
- You must be logged in to reply to this topic.