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Project Bull/Bear has selected Monday & Thursday
of next week as the best days for the bears.
Even if those days start up you can expect the
sell programs to kick in.Always tricky to predict a Monday when so much
can happen over the weekend but in this case
my data persuades me to get short at some
point today.Small short Ftse at 5755 … stop tba … limit tba ( x2 )
Never give up, never surrender.
Thursday BOE to announce interest rates etc etc
at 6am(gmt) rather than the normal 11am(gmt)Never give up, never surrender.
NASDAQ COMP: I’m still counting this as being in a ‘five up’ sequence to a target almost equal to the ATH (in effect a double top). Naturally if something happens to decisively change the pattern then I’ll have to think again.
But for the moment I see COMP has having reached wave iii of 3, now in wave iv which *should* finish around 8,500. 8,500 is also the target for the bigger wave 4.
So 8,500 looks important as a ‘line in the sand’ for the five wave count.
It closed Friday at 8,604 have touched 8,570, so there’s some more downside to the 8,500 target.
AMZN: … and taking a look at recent movements, it certainly looks like there’s a final ‘five up’ pattern developing.
Before the results Thurday/Friday and the sharp correction downwards, AMZN had reached a point where 3 = 1.618. The entire upwards move looks distinctly like 1, 2, 3, now in a large sharp 4th wave correction.
If this is so, then there’s a 5th wave upwards to come, somewhere around 2,570.
We’ll see what happens. For the moment though the 4th wave downwards looks like it needs a little more – to somewhere around 2,200.
Ftse was looking bullish above the 0.382 fib retracement
heading for the 0.500 fib. Now bearish having failed
to reach 0.500 fib and even giving up the 0.382 fib.Never give up, never surrender.
Dow and Spx very much in the balance.
They and the Ftse are in danger of seeing
a 3rd red daily candle in a row on Monday.IG clients are 75% short Spx but 50% long Ftse
Never give up, never surrender.
Monday is S1 so we have to wait for the lean.
I would like to see Mon Tue Wed Thu as S1L S2H S3H S4L all ‘normal’
as that would fit with Bull/Bear’s Mon and Thu being most bearish.I don’t always get what I want but a little of what I want
would be very 🙂Never give up, never surrender.
SPX: well, Pritpal’s comment that “I might need an eraser” appears to have destroyed the nice ‘fives up’ sequence in spx. Now there’s a man that moves markets!
So something else is happening. Quite what remains to be seen.
On the NASDAQ COMP I’m plotting currently an expanded flat small 4th wave (which will complete when AMZN completes its own 4th wave). I can assume that spx is trying for the same pattern. It isn’t very comfortable, but at least it’s an option.
If so, we had ‘A’ down followed by the extended ‘B’ up. Now in ‘C’ down which looks like a five not yet complete. Target is 2,804 (broadly round number support) where C=A.
DJT: the Dow Jones Transportation Average hasn’t rallied like the main indices. In fact it’s sporting what looks like a clean rising wedge corrective rally. The Index is now sitting just about on the lower line of that wedge, and a decisive break through that line will likely send DJT significantly lower.
This DJT pattern *might* be a warning for the other indices.
Note that the RSI and MACD are both poised at exactly the point where a B wave corrective rally would be likely to reverse downwards.
‘K’ could you repost David’s last two posts from the W/B 25th April
thread to this thread please.Never give up, never surrender.
SPX: well, Pritpal’s comment that “I might need an eraser” appears to have destroyed the nice ‘fives up’ sequence in spx. Now there’s a man that moves markets!
So something else is happening. Quite what remains to be seen.
On the NASDAQ COMP I’m plotting currently an expanded flat small 4th wave (which will complete when AMZN completes its own 4th wave). I can assume that spx is trying for the same pattern. It isn’t very comfortable, but at least it’s an option.
If so, we had ‘A’ down followed by the extended ‘B’ up. Now in ‘C’ down which looks like a five not yet complete. Target is 2,804 (broadly round number support) where C=A.
DJT: the Dow Jones Transportation Average hasn’t rallied like the main indices. In fact it’s sporting what looks like a clean rising wedge corrective rally. The Index is now sitting just about on the lower line of that wedge, and a decisive break through that line will likely send DJT significantly lower.
This DJT pattern *might* be a warning for the other indices.
Note that the RSI and MACD are both poised at exactly the point where a B wave corrective rally would be likely to reverse downwards.
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