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My focus will shift to enhancing my 2020 Timing project to try to
predict cits of interest between 11pm sunday to 9pm fridayNever give up, never surrender.
US stocks may hold the limelight again as traders watch to see
changes to covid19 support funding for employers and employees.Attempts at a vote are likely before the 8th start of holidays
Never give up, never surrender.
DOW; the dow has bounced once again from the key 50 day moving average, and in doing so has also managed to regain the 21 day.
I’m still looking for a rising wedge to finish this rally (see chart) as that is the only logical route I can see. It might be right or wrong – only time will tell.
If the rising wedge is the right assumption, then the dow is going to have to rally hard quite soon.
DAX: the rally in the Dax might be complete. The shape from the virus low is an ABC where C=A at 13,200.
The sharp rally in the Euro (now up 10%) is negative for Europe but positive for the US.
It’s possible that we’ve completed the ABC rally and the sharp drop over recent days has cut the uptrend line.
There was good divergence at the top.
It’s possible that a bounce might develop in coming days but there is no guarantee of that.
So I think the ‘top is in’ for the Dax and I’ll be looking for shorting opportunities.
SPX: for the SPX shorter term, it’s possible that it has developed a sideways triangle or flat. This resembles a ‘bull flag’ pointing upwards.
The pattern looks like it is now rising in fives. If so, the target is around 3,375.
No guarantee of this outlook, and it would make sense to just sit back and see what happens.
The debt levels in Credit Crunch I 2008 took their toll
and so will the larger debt levels in Credit Crunch II.At some point governments will lose their nerve and
will try to rein in employer and employee support
as well as various social support payments.If this is mishandled then dark times on the streets
even in the better parts of England will unfold.The fantasy world of stock markets will reflect the
dire real world situation.Never give up, never surrender.
Time for another push up in US stocks would be nice
before the house of cards gives way.It’s a game of monopoly in stocks and I would like
to grab some of that silly money for me 🙂Never give up, never surrender.
Dow cash has made a ‘two little feet’ / db pattern
at the end of July … last thursday / friday.A good many years ago, a novice day trader,
who was in awe of an experienced trader,
took advice and did very well thank you.The experienced trader said this tlf often was
seen at the end of a 4th before the final 5th.It can also be seen in more complex patterns
but there again heralds the final push up.I hope your right again hatman 😉
Never give up, never surrender.
STD is cash … I am trying my futures version
which is full of problems yet to be solved.I would take extra care this week with Dow trading
overnight as it looks more likely to move a lot.Never give up, never surrender.
Dow futures touched 26700 and are now sub 26600
Based on my timing data a return to 26700 is on the cards.
Greater care needed this week.
Never give up, never surrender.
Dow futures touched 26700 and are now sub 26600
Based on my timing data a return to 26700 is on the cards.
Greater care needed this week.
Went even higher to 26800
Never give up, never surrender.
Small short Ftse at 6100 … stop 7600 … limit 5400 ( x 2 )
Timing wise I have a mid week cit and I am happy
to book my seat even though we have BoE thursday.This trade is odds on to go under water.
Never give up, never surrender.
Atm the central banks fairytale is working because the
true levels of employer and employee debt are masked.They will need a fairytale ending to get through this
without at the very least 100s if not 1000s taken
off major stock markets.Never give up, never surrender.
Major stock markets are trying to recover July highs.
NAS and S&P have done that and gone higher.
Next is the Dow which ‘should’ do it this week.
Dax and Ftse have a much harder task to do the same.
Hence my Ftse trade risk calculation (price / time).
Never give up, never surrender.
Today is Cycle Day 3 for the Dow
I have noticed a tendency on these days for Dow futures
high not to be reached by the cash market.Not a prediction.
I am taking the rest of the week off as the weather
forecast is good into the weekend.I will not even be monitoring the stock markets
which is rare on my mini breaks 😉Never give up, never surrender.
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