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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
I will run this into next week as today could be OE corrupted.
Never give up, never surrender.
I still have Dow 26100 as a ‘two little feet’ retest in my note book !
Never give up, never surrender.
DOW: we got the B wave rally into Friday but which reversed late in the day.
Interesting week with STD 2, 3, 4 showing a strong downwards trend, then STD 1,2 giving us the B wave bounce. Shows that STD can work nicely (but not always).
The decline from the top Friday can be a three or five (we don’t know yet) but so far there’s a strong probability that it could develop into a five.
Next week we have STD 1, 2, 3, 4 so a clear run for a five wave C decline if it wants to.
C=A at 28,100.
Oh, for Zarif and PritPal, last night I cooked a home made Chicken Tikka Masala with genuine Basmati rice. Difficult to get all the ingredients here in Korea, but I found some Masala paste online and also the basmati. In Korea and Japan all we have is ‘sticky rice’ which I don’t like really. I prefer ‘dry rice’ and I can get Basmati and Thai Jasmine if I search around.
I really think I should be living in India!
In the currencies the DXY continues to show signs of B wave movement with the possibility of a sharp move upwards for the overlap.
EURUSD is also trying to form the B wave. It isn’t clear whether it wants to move sharply lower or fiddle sideways before doing so.
The overlap is at 1.14 and it can just about achieve that with a straight line drop c=a but I suspect some fiddling is in store first.
SPX: chart similar to DOW except SPX has not yet overlapped what I have/had as wave ‘i of 3’ at 3,430.
We appear to have had an abc down from the top followed by a B wave ending Friday.
Now if it wants to it can fall in ‘C’.
Like the DOW, the sharp drop late Friday is early days and we don’t know yet whether it wants to be a three or a five. So far it’s looking fiveish…
Situation with the virus in UK and Europe is deteriorating rapidly with record numbers coming out of France etc. America also not looking good, but not as bad as Europe.
If this continues we might see entire Countries go into lockdown again…
Oh, for Zarif and PritPal, last night I cooked a home made Chicken Tikka Masala with genuine Basmati rice. Difficult to get all the ingredients here in Korea, but I found some Masala paste online and also the basmati. In Korea and Japan all we have is ‘sticky rice’ which I don’t like really. I prefer ‘dry rice’ and I can get Basmati and Thai Jasmine if I search around. I really think I should be living in India!
<3 nice yummy
Hatman I shall write my recipe for Tikka tandoori and tikka masala and snd you and try that and see and let me know
rgds
Zarif
Small droplets of rain turn into Rivers, Streams and Mighty Oceans
For the Chicken Tikka Masala I kept it simple and hoped that the masala paste mix would do the job (which it did).
I cut the chicken into bite size pieces, part cooked and seared then set aside.
Fried up one or two onions, diced, then added chopped tomatoes, three or four korean green chillies (chopped) and some yellow and red peppers cut into edible strips.
Cooked for a little while then added half a tin of Thai coconut milk and lastly the masala paste. I then added the partly cooked chicken and simmered for 15 minutes.
Came out very good and tasted like the genuine thing.
I can also get these sauces from my korean online shop, reasonably priced at about four pounds each. I might try them all over time…
Now to business…
NYSE: here’s an interesting and possibly important chart of the NYSE Index (NYA).
Couple of weeks ago I was flirting with the idea of a completed rising wedge that hadn’t quite reached the perfect target but looked interesting. Then I noticed this weekend that NYA had reached a new high in a ‘three’.
Here’s the chart. The latest ‘three’ looks ominously like completion of the C wave rising wedge. So the rising wedge idea looks like it was correct but needed a final push.
The target for C=A is 13,450. It got to 13,350 which might be enough. Or, it might fiddle around and then make another attempt at that 13,450.
Notice that the RSI and MACD both show diverging highs against the higher highs in the wedge, which is what one would hope to see.
If this chart is correct (it might not be) we can expect a sharp reaction back to ‘wave b of the wedge’ which by coincidence or not is also the overlap of ‘wave A’ and the 38.2 retrace.
Hmmm… an interesting chart.
DOW: and when we apply this NYA pattern to the DOW we get a similar picture.
The C=A is at 29,300. I believe it got to 29,100 or so at the last peak. So, again, it might need one last down and up wiggle.
A problem with these rising wedge patterns is that the EW people say they can be exact, truncated, or an overthrow. I think they just make it all up so they’ve got so many options they can always claim to have been right…
Anyway, another interesting chart. C=A at 29,300. It might have peaked already, but another squiggle down and up would make sense and allow NYA to also reach its perfect target.
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