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Small short Asx at 6228 … stop tba … limit tba ( x 4 )
Stops set to 6225
Limits set to 6000 (x2) & 5750 (x2)
Happy now as the outcome is either b/e or win … can’t be a loss 🙂
Never give up, never surrender.
There are still three jokers in the trading pack this week.
US covid19 stimulus
EU summit / Brexit deal
October OENo US stimulus
No Brexit dealPlus the cheeky boyz may try for Oct OE max pain
How it all changes and changes again.
Never give up, never surrender.
It’s all a big politics game with US major stocks.
Possible inv hs with a dt still kind of in play.
Plenty of money to be made or lost.
Never give up, never surrender.
The DOW has fallen through my ‘wave i of 3’ and has therefore overlapped 28,350.
This negates the ‘five up’ count, suggesting that the entire rally was a ‘three’.
DOW: by dropping to overlap my ‘wave i of 3’ at 28,350 the fives up count has been invalidated. Further, the top can be calculated as a ‘three’ where C=0.618.
So I’m guessing that what we’ve seen is a large rampant B wave ‘three’ that peaked below the ATH.
In the shorter term it’s interesting that we got a ‘trend down’ for the first three days of this week (STD 2, 3, 4) showing that the STD system is useful (but not infallible).
Now we’ve had all or part of a B wave (might be part as Thursday was STD 1 and we get 2 today) that has already overlapped ‘A’ down.
DOW: as I suggested last week, as this appears to be a ‘b’ wave we might get a triangle. Triangles often start with a sharp move for ‘wave a’ which is exactly what we’ve seen.
If so, DOW might find a reason to fill the gap at 27,200/300…
DXY: a key to these markets remains the Dollar (at least for now).
Looking at the chart, we had the abc up followed by a ‘b’. That ‘b’ might now have finished, or it might continue sideways as a triangle or something. It’s certainly heading upwards at the moment.
Still, the overlap target is at 95.7.
SPX: as a point of note, unlike the DOW, SPX hasn’t yet overlapped the same ‘i of 3’ which lies at 3,430…
It is currently trying to rally back to 3,500 which is an important support/resistance line. From where, if it wants to, it can make a drop attempt to 3,430.
I did a rough calc for Dow max pain for Oct OE at 27600
and atm we are not there but it was more of a guess.Never give up, never surrender.
Dow futs pushing 28600 and Spx 3500
If these are cash prices held and built on then both hatman and I
and even our founder ‘K’ are wrong !Shirley this most be a bull trap !!!!!!!
Never give up, never surrender.
Small short Dow at 28800 … stop 30000 … limit 27500
Crazy times !
This is my only trade and I will run it into next week.
Have a great weekend kpaders 🙂
Never give up, never surrender.
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