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DXY chart. Likely c=a hit at 94.7. Of course it can change and become a ‘five up’, but for the moment I have to assume a ‘three’ has completed and some sort of B wave downwards or sideways is now needed.
Small short Nas at 11430 … stop 12700 … limit 11000
Small short Nas at 11430 … stop 12700 … limit 10500
Small short Nas at 11430 … stop 12700 … limit 10000My plan is to run these through the astro storm !
Never give up, never surrender.
SPX: this sharp rally hasn’t left any good markers from which to make sense of targets, except the squiggle at 3,300 which for the moment I’m taking as an a,b.
There are two measurements from the low points which give a target box in that 3,350 area to which the market zoomed then stumbled.
However there’s also a c=a target box higher up at 3,390 or so which also fills the gap in that area.
The 3,350 area has been reached and that might be *it*. However the DXY action causes a doubt.
If this wants to be a triangle B wave then the upper target area is more likely for ‘wave a’ of that triangle.
DOW: using similar calculations for the DOW, the minimum target is 27,735. It got to 27,722 which is pretty close.
There’s a slightly higher target at 27,820.
The difference between DOW and SPX is that the DOW moves are c=a whereas SPX is c=0.618. The DOW numbers are therefore more reliable.
NASDAQ COMP: the COMP has a different pattern but still with a possible triangle. There are two targets shown by the brown box. Roughly 11,100 to 11,135. It is already in that box so the rally *might* be complete.
So in conclusion we’ve got the COMP inside the target box, the DOW at or very close to its target box, and SPX also inside its target box (having briefly exceeded it by 2 or 3 points).
I wish the charts were more clear with a nicely defined B wave. Unfortunately I’m having to rely on the a,b, squiggle (which might be correct but is not very clear cut).
Still, interesting that all three indices coincide at the targets (sort of).
I believe today is STD day 1 so there is an opportunity for a change in trend.
Also, Sept 28/29 is the start of the ‘astro period’ and Monday 28 was the Bradley.
SPX daily: on the daily chart there’s clear evidence of a possible rally peak.
The rally shot upwards to the 50 MA and failed (or paused).
The RSI has moved upwards to touch the 50 middle line. In order for the bearish market stance to be maintained the RSI should ideally get rejected at 50 or thereabouts.
DOW: similar situation here. Yes, it popped up above the 50 MA. However, so long as the DOW now drops lower we can interpret this one candle as a failed retest. Clearly if it moves higher that will imply something else.
RSI has retested 50 from below.
I trade futures so I look at those charts.
The pattern is scrappy.
I have chosen to short Nas & Dow but will drop the least
interesting of them as things unfold.Could have chosen Spx & Dax … Ftse of less interest.
Never give up, never surrender.
Small short Ftse at 6055 … stop tba … limit tba ( x 4 )
The old dog woke up 😉
Never give up, never surrender.
Close all Nas shorts at 11370 … 60pts x 3
I will switch to just holding the short Ftse as this spike
up this morning will look vulnerable later this week, imho.Never give up, never surrender.
Small short Ftse at 6055 … stop tba … limit tba ( x 4 )
The old dog woke up
5875 !
Never give up, never surrender.
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