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This crackers market cannot die! Who on earth is buying this up here? I mean really? We’ve all heard the “be greedy when others are fearful” soundbite but this is just getting silly now.2 days of early hard selling just shrugged off and back up we go…running an underwater short now myself from 3001.9.not too troubled yet but it can easily go up into early june now..i hope tomorrow can turn out to be a good s1l,only trouble..futures could be up 50 before it drops lol…time for some cheesecake..everything will be clearer after cheesecake
when i use to daytrade i was asking myself who is the idiot buying up here ? whenever i was at a point asking this i was going long instead of short never lost a trade, but they were scalps anyway.
I have been there and done that. Then it comes down and never looks back 😡
Plan your trade, trade your plan!
NYA: the NYSE Index chart is still the cleanest pattern to follow.
I speculated that we had completed wave 1 up of C and that a small wave 2 would develop. That didn’t happen (or did but was very small).
I’ve looked at all the various options and have to conclude that NYA has already entered wave 3 up (of C). If so, the target is in the 12,740 area. Being a third wave it might get there quite quickly.
The target is about 10% higher than yesterday’s close.
Of course something can happen to change the pattern, but at the moment all the signs seem to be third wave of C.
Good morning all,futures ramping again i see..nothing for it but to let itself play out.this behaviour is so similar to the pre-corona move to the top,that didnt turn out so good either! There is an outside risk it just keeps banging higher until the middle of next week.im happy to add around 3090 and 3140 should it get there.yesterdays short is comfortably small so no big pressure.obviously a turn down today would be better though.
I love trading and I love studying on formulating my daily plan.
But really here it is all so pointless and absolutely nothing is working intraday wise.
I will make money on my shorts but playing this scenic with such a big drawdown is definitely disheartening.
Possible asc wedge on a 60 min ES chart building.
You would think it is time ot consolidate now.
Even the 500bln Euro bailout yesterday is not expected to pass until 2021!
Plan your trade, trade your plan!
NYA: the NYSE Index chart is still the cleanest pattern to follow. I speculated that we had completed wave 1 up of C and that a small wave 2 would develop. That didn’t happen (or did but was very small). I’ve looked at all the various options and have to conclude that NYA has already entered wave 3 up (of C). If so, the target is in the 12,740 area. Being a third wave it might get there quite quickly. The target is about 10% higher than yesterday’s close. Of course something can happen to change the pattern, but at the moment all the signs seem to be third wave of C.
Really? Well that would be absolutely amazing if they pull it off.
I heard that the cases in South Korea are on the increase again and they are talking of reimposing restrictions. Is it true?
Plan your trade, trade your plan!
DOW: taking the NYA pattern as a guide (because the Dow pattern isn’t as clean) it looks like the Dow wants a C=A target in the 29,000 area.
Like NYA something else can happen of course, but looking at all the options I have to conclude that the Dow has also entered wave 3 (of C) upwards. If so the target is in the 27,374 area.
Notice that the RSI and MACD are very positive – they both failed to confirm a bear market rally and are curling upwards above the middle line and zero.
“South Korea reported 79 cases of novel coronavirus Thursday, recording the highest single-day daily increase since April 5. The nationwide total now stands at 11,344.
Sixty-eight of the 79 new cases were from local transmission, health officials said, as fresh flare-ups of coronavirus emerged across the greater Seoul area.
Sixty-nine people at a Coupang logistics center in Bucheon, Gyeonggi Province, have tested positive for COVID-19, health officials confirmed Thursday.
As infections spread rapidly among workers at the e-commerce company, the city announced Wednesday it was reinstating “intense” physical distancing, a nationwide guidance that expired on May 6.
In a Facebook statement posted Wednesday, the mayor of Bucheon said the city has identified 3,626 people with ties to the distribution center, only a small fraction of whom have undergone testing.
Classes in Bucheon will be once again suspended except for high school seniors, he said, and high-risk communal spaces will be closed again.
Korea Centers for Disease Control and Prevention Director Jung Eun-kyeong said in a Wednesday briefing that regions experiencing active outbreaks may need to review returning to stringent physical distancing.
Infectious disease expert Dr. Lee Jacob of Seoul’s Hallym University Hospital said in a Facebook statement Wednesday that “Seoul and the surrounding regions may have to boost distancing measures yet again.”
The mayor also cautioned against coronavirus blame game, saying, Coupang workers were “hardworking people.”
“Nobody is to blame for coronavirus, and getting sick is no cause for blame,” he said.
Health Minister Park Neung-hoo said in a Central Disaster Management Headquarters meeting Thursday that a lack of safety precautions in the workplace seems attributable for the outbreak at Coupang center.
“Virus countermeasures such as wearing face masks and taking leave when feeling sick do not appear to be have been followed at the facility,” he said.”
Thanks David, I am sure South Korea will do all it can to contain any second wave. The same cannot be said for many other nations.
As for the bullish picture, I really do not buy it. I think that is the picture they have painted, ie. to make it look bullish on the charts.
My honest feeling is that we our close to a meaningful high.
Mainly this is because my work is not working and whenever that happens it corrects fast.
I maybe wrong, we shall see.
There is one difference, normally I would be very short here, I am not though. This is because of the FED.
Plan your trade, trade your plan!
Ftse spill up to complete S4H wednesday now
the odds are S1L for today.Never give up, never surrender.
Gutten Morgen satr sri akal ji Salaams
Good luck to us all
Small droplets of rain turn into Rivers, Streams and Mighty Oceans
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