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Tuesday and Wednesday are there for the bears.
From the US close Ftse and DAX futures fell over. AUS200 did not look too happy either. Need euroland rth and US rth to confirm we have witnessed some sort of cit. I noticed a leading US bank predicting Spx 2400 over a 3 month window. I am not expecting too much and just want a profit from my shorts in the Tuesday – Wednesday bear window.
It is interesting Chris to see that today yourself, David and myself are on a similar script.
Plan your trade, trade your plan!
The only danger now is that the M from yesterday, may have become a W on the 60 min chart. If so we are back to yesterdays highs. If it fails, then the bear is confirmed.
Plan your trade, trade your plan!
As the UK tries to get people off furlough and back to
being paid by their employers, they will likely find
those jobs do not exist anymore.As a desperate act to try and save the business and
protect their employees, I think many directors
took the lifeline to avoid certain sinking.Over the coming months we will see the companies
that are ready to restart and others who will
drag their feet, then throw in the towel.It’s also unclear what people who have not seen any
drop in their incomes will do on restarts.
Will they rush out and buy, I think they will
be more cautious, causing a very slow recovery.
Cue the next slogan ‘Go out and Spend”.Never give up, never surrender.
The only danger now is that the M from yesterday, may have become a W on the 60 min chart. If so we are back to yesterdays highs. If it fails, then the bear is confirmed.
Monitor the Ftse for Tuesday clues.
Never give up, never surrender.
DOW: like the other markets, the Dow is showing a potential rising wedge. It’s got good overlaps. It might be finished, or it might need just one final wiggle higher.
Ftse back above 6900 for a 12:00 ‘h’
That looks more like S1L pt1a timing the alt is a SU day.
My 2020 Timing Project indicates this Ftse ‘h’ pt1a window
will fade by US premarket 13:30.Looking at Dow timing I would say this US futures action
will not run through to the start of US rth.Don’t risk any money on a new timing project but I would
say that US rth will start on the down tick. Very unlike
what we see atm. Curious.Never give up, never surrender.
Well what have we got around 13:30 ?
US Inflation Rate.
Well a ‘bad’ ( above expectations ) inflation rate would
not sit well with the low interest rates. Even worse it
may halt the rumor of -ve US interest rates.Never give up, never surrender.
The only danger now is that the M from yesterday, may have become a W on the 60 min chart. If so we are back to yesterdays highs. If it fails, then the bear is confirmed.
What a swine. It did it. Give or take, the W is complete.
Plan your trade, trade your plan!
DOW: this short term daily chart shows the clear relationship to the 21 and 50 day moving averages. Even if the market enters a correction phase, it’s going to see strong support from these averages. The target is an overlap of 22,500, but with those averages in the way it’s going to be a struggle to get there (if at all).
Looks like US majors want to revisit Monday’s hod.
If that is the plan then may aswell get it done
as spill up then into a potential SL1Never give up, never surrender.
Timing seems false but US majors have now got Ftse and Dax for company !
Never give up, never surrender.
From an STD stand point the only way the bears can get anything
now is if Ftse pt1a ‘h’ matches Dow spill up.Then all go down
as part of S1L with Ftse pt2 ‘l’ and Dow pt1 ‘l’Never give up, never surrender.
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