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Well, no guarantee, but the best idea I can come up with. We’ll see what happens.
Note that TSLA is down sharply in pre-market. Perhaps again an early warning of something changing.
Thanks for sharing all your work David.
My latest and last attempt as a drop guard is …
Small short Dax at 13450 … stop 14000 … limit 8800
I would be very happy to see that NAS drop and then
move stops on the above Dax shortStop moved to 13400
Never give up, never surrender.
Dax has now lost all the day’s gains and that is futures not just cash.
That decline started today at what looks like the end of a ‘5’ when
viewed on a futures chart.1st marker for a reversal.
Happy but not excited 😉
Never give up, never surrender.
We got the COMP crack (and everything else). COMP has sailed through my 4th wave target.
Be aware that SPX appears to be showing a clean ‘five down’. Doesn’t fit with my chart count, but then market reversals often happen without warning.
Isn’t this STD 4? So the upwards trend should have continued but the sequence got broken.
Early days, but that five down looks clean.
SPX now looking more like a three down. If my chart count is correct then this is a 4th wave. Might be the start of a triangle, which often start with a very sharp move.
STD S3 today
Also shows that ‘h’ in full moon windows are not to be trusted.
Never give up, never surrender.
the market needed me to post bullish comments so it can drop still have underwater dax short from 12500 and 11500sh i was planing on hedging them
btw i have no doubt they will come good it is just a matter of time usa can go as much parabolic as it wants but Europe is always more sensible and on fundamentals is F***ed
I think the option writers will want this market
to fall into September options expiry.That’s two weeks tomorrow and by then we will
know a lot more about this decline / pattern.I am content to nurse my Dax short and watch.
Never give up, never surrender.
ESMA the idiots that messed up margin requirements yesterday said that European markets are too high given the risk due to covid 19 damage.
SPX ETC: I have ‘three down’ in SPX and COMP. Both markets needed a 4th wave and I’m guessing that this is the start of a sideways flat or triangle.
If so, the markets will stage a miraculous recovery over the next day or two.
Clearly this idea is rather speculative and I am not brave enough to go long.
COMP: in my recent chart count I was looking for a 4th wave to start around 12,125. It touched 12,100 then we got the drop.
Again, like SPX, I think there’s a high chance that this is the sharp start to a triangle for the 4th wave.
Remember the evidence of the RSI is that the first touch of 80 is the ‘early warning’.
If all this is correct we’ll get a triangle followed by a 5th wave high with divergence. THAT will be the real shorting opportunity.
Speculative.
STD S3 today Also shows that ‘h’ in full moon windows are not to be trusted.
Hmmm… for some reason I thought yesterday was Friday. Old age creeping up…
DXY: it still hasn’t hit the target of 90.5/91. It got to 91.5 which might be enough. Or there are slightly lower lows to come.
Small short Dax at 13450 … stop 14000 … limit 8800
Closed at 13000
I will stand aside for NFP
Never give up, never surrender.
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