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Looks like the UK is back to where we were in March
and these restrictions could last until next March.There are sum tweaks but for most people it looks
very much like, as you were, with the possibility
of yet tougher rules.No happy Christmas this year !
Never give up, never surrender.
Since my Dow shorts at 28000 this market has been
a bears dream because you can short the rallies.I suppose the bulls still buy the dips and the
swings in futures today would support that.Never give up, never surrender.
So far yesterday’s early high which was critical to my plan has held. My plan remains of a high in circa 3430 and hopefully 3100 next. Let’s see.
Nothing has changed for me.
My target remains 3100, although it may be even lower on this run.
After that I fear the liquidity driven rally will resume.
In 2 weeks we will be back on earning season, so ideally I need the 3100 before then.
Plan your trade, trade your plan!
My initial target for the Dow is to revisit the ‘two little feet’
which printed on 30th & 31st July 2020 circa 26019 & 26030Never give up, never surrender.
SPX: Calling for the ‘three down’ on Monday was one of my better calls. Wish I could be that accurate every time. Still…
SPX *might* have completed the ‘b’ wave rally within the likely falling wedge, At 3,320 c=0.618 approx, COMP has completed an exact c=0.618.
I really think this ‘b’ wave needs more time – three to four days – but as can be seen from the chart, a falling wedge can ‘work’ from here. But the market will have to fall sharply in ‘c’ and that’s possible but not likely.
Instead, this is likely completion of ‘wave a of b’ so we should get a dip and then wave ‘c’ higher. That will extend the pattern another couple days.
NASDAQ COMP: the COMP has rallied nicely, has overlapped wave ‘a’ and appears to have completed an abc where c=0.618.
Frankly, if the COMP goes higher then the falling wedge scenario is brought in to question.
So with a ‘b’ wave of a falling wedge likely complete, the COMP needs to start falling in wave ‘c’ down. If it doesn’t do that but rises further then something else is probably happening.
Small short Dow at 27515 … stop 28750 … limit 26250 ( x 2 )
Risky as the bulls are out in force but I will use
the profits from the first drop.Some traders are about to get mullered and I hope
that I am not amongst them !Never give up, never surrender.
Ftse 6000 is a bull / bear sandline for me.
Buyers above must be using fund money … not their own money.
Never give up, never surrender.
Small short Dow at 27515 … stop 28750 … limit 26250 ( x 2 )
Closed at 27415 … +100pts x 2
Never give up, never surrender.
I think i found another winner to fade on dax i subscribed to matrix trader and so far the last 4 days nearly all his stop loses where hit.
Problem is he is a good on TA so i need to follow him for a bit before i start counter trading him.
I do not believe i would ever find anyone again as good as FTSE 100 day trader i made good money counter trading him. He had the best system ever 100% rate when he added on a position for a 3rd time do the opposite 100% guarantee profit. i followed him for years never failed. Same that it disappeared probably he went bast.
I had a system when he add 2nd time i would do the opposite 1/4 size on 3rd time addition go full in.
so far so good with my new guru short dax 12810 closed 12806 believing they will be a rally. Then market straight drops gone long 12717 got stopped 12680.
in the past i was thinking of doing a group of new traders to counter trade them if 90% of trader loose it should had worked. Never found the time to implement it.
This is the 2nd wave … down.
hatman called it again when he said Dow could rally to 27500
then take a dive.Never give up, never surrender.
SPX: we got the sharp drop. At the low I can count an abc where c=1.618.
As I see it, there are two possibilities – this is part of wave C which should target 3165 where c=a, OR we are in a larger descending wedge from the top. Impossible to tell, but DOW looks like the larger wedge.
In either case some sort of rally is due before we see the final low(s).
Of course if it really wants to it can go straight down (with barely a mention of a ‘b’ wave in this drop). Ideally SPX will find a reason to rally to around 3264/8 first.
SPX: just a note of observation here – it’s interesting that SPX and DOW didn’t make new lows but formed double bottoms/higher bottoms.
In a falling wedge, waves ‘b’ and ‘d’ don’t have to be sharp three wave affairs – they can be flats or triangles as shown on this chart.
If SPX manages to rally above the 3264/8 area, one should be watching for the possibility that ‘wave b’ continues sideways.
Not a prediction or a count, just an observation.
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