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I think the day after Labour Day was a high point in
both 1929 and 1987 so get your seatbelts on 😉Never give up, never surrender.
Hi Cimac,
hope you are right….
I am off to Brazil at 6am so speak soon from sunny South America!
Dan.
Have a good time Dan.
Day after Labour Day looks to be a high pt of sorts
based on the ooh quotes.Never give up, never surrender.
Plenty of chances to short Ftse, Dax and US today and now
be in profit.Just love it when a plan comes together 🙂
Never give up, never surrender.
Thursday 4th Sept we have BoE and EcB rate news with the
later being of most interest re possible QE updates.So we could spike but not likely to last, imho.
In general major markets may hold up on hope into that
dark period of historical crashs, October. Another
date before then is the Sept 9th full moon, imho.Never give up, never surrender.
Ftse has drifted higher, away from the herd, giving me
my next short entry which comes in circa 6875, fwiw.Never give up, never surrender.
Waited but in the end I would not want to miss
a short entry on my list so short Ftse 6894
and leaving plenty of margin, fwiw.That’s me done until after BoE & EcB maybe
wait until nextweek, then review charts.So easy street for me now 🙂
Never give up, never surrender.
Stats say it’s Retail who have pushed this market up for
the last 12 to 18 months and some of that must be from
stop hit shortside aswell.Will the big players come in when Retail bulls are all in
and Retail bears are all out. Most likely yes, imho.Never give up, never surrender.
Atm the US looks like a high to low day and when you
get too many of these it’s a bearish sign so let’s
see what the last hour brings.Never give up, never surrender.
ASX 200 @ Tue 2 Sep 14
The preferred EW count has a three wave advance in play from March 2009 (A-B-C). There is no change to the 5480 initial topping target for wave-C (based on the length of the 1st wave).
In a three wave move wave C is always a ‘five’. Because triangles only develop as the 4th wave in a ‘five’, their appearance in this position adds confidence to the larger count.
See the attached weekly chart. A 4th wave triangle appears to have completed at last February’s 5052 low.
Once the 4th completes, the other element of the topping target range is calculated by adding the length of the 1st wave to the terminus of the 4th, that is 683 + 5052 = 5735.
So the topping range for the count shown is 5480 – 5735 (red horizontals).
Price must not advance significantly beyond 5735 and must eventually take out the 5052 4th wave terminus for this count to remain viable (magenta horizontal).
Cheers WND.
Well it’s euroland rate day so watch out for any EcB talk
re their form of QE. We know it does not work but we
also know markets must hope for something atm.I am still short the Ftse, fwiw.
Never give up, never surrender.
If the EcB does not goose euroland upwards then …
Dax looks like making a shoulder of a H&S with
the 10k peak at the centre.Ftse still looks like the final moves of what
tepid would call ‘a big arse B’ with a trip
down via a ‘C’ to re-test the 6000 zone.Would not like to think any further on this
as we still have EcB press conference.Never give up, never surrender.
Thanks Cimac
Wow an ECB rate cut?Â
Next now to ADP numbers in the US, due out in 15 mins
Then to ECB conference at 1.30pm with noises of QE
Then to NFP’s tomorrow.
and so on it goes
Why on earth the markets shot up on the rate cut (infact well in advance of .. crooks!).
Rate cuts have not worked in Europe, so why the confidence now?
Hopefully another pop and drop but ESG/SPXG bullish combo is always a pain to watch out for
Plan your trade, trade your plan!
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