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There is a chance today that around 18:45 / 19:15 maybe a high and it could fall into close.
Looks very unlikely, but it is there.
I will short it if I get a high into this zone.
Plan your trade, trade your plan!
NAS was the leader … no more.
Most days it was NAS SPX DOW …today DOW SPX NAS
Rotation is a factor in most instrument groups and some
will see it as bullish and some bearish.I see it as follow the leader.
Never give up, never surrender.
Honestly, I find up days so, so annoying compared to down days. The problem is down days are rare.
A high came in at 17:20, just outside my zone as a spike up. As a result I missed it and now its 7 points lower.
So now it is all about crookshour. It should be down, but will probably be up.
Plan your trade, trade your plan!
NYA: we got the pop and drop, which was much more evident in NDX and SPX.
I’m marking this as having completed wave 1 up of C. My target was 11,626 and it hit it almost exactly.
The target for wave 2 is back down around 11,200 or roughly where the 21 day moving average resides.
Clearly if the market finds a reason to exceed today’s high this analysis is wrong and we will already be in wave 3 upwards. But for the moment I have to assume we have entered wave 2 down.
DOW: similar to NYA we got the pop and drop and I’m counting this as wave 1 of C, now entering wave 2.
Target for wave 2 is around 24,400, again somewhere around the 21 day moving average.
Note that second waves are often ‘short and sharp’ so the target might/can be met quite quickly – perhaps in two or three days.
Again, a move upwards above yesterday’s high will invalidate this pattern and suggest that we are already in wave 3 upwards.
DOW: on the Dow minute chart we can see a fairly clean five wave advance upwards.
The target was 25,113 or so and it got to just below 25,200 then reversed.
The target for wave 2 down is 24,400 which also coincides with ‘wave iv upwards’ and the 21 day moving average.
As mentioned before, if the Dow for some reason suddenly trades above yesterday’s high this analysis is negated.
But for the moment it looks like ‘wave 2 down’ has started.
NOTE: at the time of writing Dow futures in the Far East have recovered and are now trading above the RTH high of yesterday. This brings into question the ‘five up’ second wave down’ scenario, unless the situation changes by RTH.
Small short Dow at 25230
I will set the stop to only risk tuesday profit.
Never give up, never surrender.
My work indicates today should be the start of the down move, no target yet.
Plan your trade, trade your plan!
Trump is threatening Sanctions against China over HK. Still we are here. The market is in total ignore mode.
All these issues it is ignoring are the ones that will be used as the excuses for why it goes down.
Plan your trade, trade your plan!
My work indicates today should be the start of the down move, no target yet.
ABBCD was the rating so we are kind of halfway from Bull to Bear.
Nothing is that accurate but a short with a good affordable stop
seems like a reasonable thing to do … no advice etc etc.Never give up, never surrender.
In the UK more shops will come out of lock down on Monday 15th June.
Quite a few will go from lock down to shut down.
Stocks can rally perhaps inline with hatman’s chart and then
the real financial situation will become clear to all and
there will be a sharp downward adjustment, imho.Never give up, never surrender.
Small short Dow at 25230
I will set the stop to only risk tuesday profit.
Stopped out as tuesday Dow profit.
Never give up, never surrender.
Morning all,this seems to be setting up nicely for a high in ians turn window around 2-3 hours into the trading session..gap over 3k,sell off and close the cash under same level..giving the appearance of an exhaustion high..then gap up and run the stops from the day before..crooks do what crooks do best!
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