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My idea was for another 200+ point leg down, before much further upside.
That plan is still possible, but today’s strength has thrown me a little.
Plan your trade, trade your plan!
This is very strange for me today. In theory this could sell off hard in crookshour, but seems very unlikely. My best days are always when I sit here and watch every candle. If I have to walk away from the screens, I always miss a low to close. However they never put me off. All that will happen is they will give me more points than I originally would have closed for.
Maybe it has started, maybe not, but it as just lost nearly 20 SPX points in a flash.
Plan your trade, trade your plan!
DOW: the Dow has tested the 21 day average six times recently. It clearly doesn’t like life below that average, currently around 25,900.
If it DOES break below then a quick test of the 50 day down at 24,700 seems likely.
However, to my eye the action of the last few days looks like a bull flag and a rise to fill the gap at 27,000 looks on the cards. It might not happen of course, but that’s what it looks like.
The big drop just about overlapped wave ‘A’ at 24,700. One *could* now interpret the entire rally as a rising wedge B wave. I don’t think that’s likely because the patterns in the RSI and MACD don’t really support a rising triangle.
So I’m still thinking we’ve had A, B now rising in C as a rising wedge. Target for C=A is at 29,350 which interestingly creates a double top and fills the first breakaway gap.
NYA: in the NYSE Index we got the overlap of ‘A’, suggesting (like the Dow) that this overall move up can be a big rising wedge B wave. It isn’t perfect, but note the channel.
Again, the pattern isn’t confirmed by MACD, which is suggesting more likely we’ve had A, B now in C upwards as a rising wedge.
The target for C=A is 13,500, after which it should drop to overlap the action at 11,700.
WOW Good morning
WOKE up and saw SPOOS at 3060 and took a HRB l;long at 3070 and out at 3090
Was fast and furious
Is / was this news ???
anyways happy woke up as a early birdie got the worm
Good luck to us all
Small droplets of rain turn into Rivers, Streams and Mighty Oceans
Stop hit for 15pts profit.
Strange futures action.
Small short NAS at 10125
Never give up, never surrender.
Apparently Navaro said on Fox news that the China trade deal is off and the market tanks.
Then Trump comes out and days he was wrong and it is intact. The market then rallies back up.
I am gutted as I had no limits and missed closing some shorts.
Well done those of you that were up and managed to play it.
Plan your trade, trade your plan!
I cannot remember this guy getting it right even once in recent times.
Plan your trade, trade your plan!
My next plan is to short the Ftse in stages ready
for a retest of 5100 when we get the ‘C’ down.Never give up, never surrender.
Actually one thing i will take away from all of this is that this is probably the most horrible market I have ever traded.
Don’t fight the FED.
Sure we have had downs, but they last hours / days and then it goes back to this mode.
Yesterdays low at globex open was 3027.25, we are now 3150.
Worse still as it stands, it seems like it has no chance of wanting to come back down today. Maybe it is a head fake, sure don’t look it and worse still not enticing me to short either.
Plan your trade, trade your plan!
Took a loss on the NAS but well covered by earlier profits.
Well done
Plan your trade, trade your plan!
Glad i held off on shorting now.the lure of that gap above looks too much.they are whipping it around so much,every day and globex is a stop run and reversal it seems.they are attempting to wring every last bears neck before this drops.
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