- This topic has 211 replies, 4 voices, and was last updated 3 years ago by
.
-
Posts
-
Small short Ftse at 6100 … stop 7600 … limit 5400 ( x 2 )
Stop to b/e … to protect against the hill billy US traders
pushing up Ftse quotes later tonightNever give up, never surrender.
If my Ftse stop is taken then I will wait to see …
1) If hatman’s Dow and Spx projections are correct.
2) The US covid19 relief fund is announced.
Never give up, never surrender.
NYSE: the NYA is rising but has yet to make a new high for the virus rally. SPX and NDX have done so.
For the rising wedge idea to be valid, NYA needs to continue punching upwards in this move, perhaps to around the 13,200 area. I suppose it needs to be a ‘five’ so what we’ve seen over the last two or three days might be the first part of that ‘five’.
No guarantees of course, just a guess. However if we *do* get the five up for the middle part of the wedge, that would be a good sign that the wedge idea is valid.
SPX: for spx, if the wedge idea is valid then this current move needs to go to the 3,400 area, perhaps a little higher. Whether that happens remains to be seen.
SPX: in the short term I see a ‘five’ in spx not yet complete. It appears to have completed 1, 2, 3=1.618. There should be a 4th and 5th to come. Target around 3,379.
Fed bond purchases have been widely criticized for boosting income inequality.
Beneficiaries of the new money are banks and people invested in stock markets.The Democrats want the Fed policies to benefit ordinary people.
We wait to see if the latest US Covid19 Relief Fund gets voted through and
if the Democrats insist on changes inline with the above.Whatever happens now, if the Democrats are elected in November we will
witness a sea change in the way the Fed supports banks and stocks.I always thought it would be inflation that blew the house of US stocks
down and did not see this alternative threat coming.Never give up, never surrender.
Credit Crunch I 2008
Credit Crunch II 2020US stock market ‘l’ 2009
US stock market ‘l’ 2021 ?Not a crash more of an overdue adjustment.
W D Gann 2021 ‘low stock prices’
It all fits … worth a note imho.
Never give up, never surrender.
Small short Ftse at 6100 … stop 7600 … limit 5400 ( x 2 )
Closed both at 6000
The reason I closed was because that takes my 2020 profit to +50%
I will now resume my mini break 😉
Never give up, never surrender.
Retail traders have been net short the Dow
and have been squeezed all week.Option traders are net long and they will
be squeezed into August Options Expiry.Never give up, never surrender.
SPX: the rising wedge idea is coming to fruition. The current upleg measures to around 3,375 and might reverse from there to try to overlap wave ‘a’ at around 3,220.
There’s good divergence in the MACD, which is what one would expect in a rising wedge.
C=A @ 3,536. Tom DeMark has a target at 3,486. To get to that area we need another drop then a wiggle higher.
… the NYA and DJI have lagged in this rally and need to print new highs for this move.
It’s possible that we will see another ‘rotation’ week where hot money exits the FAAMGS and rotates into industrials. That could push NYA and DJI higher while allowing SPX to peak at the target area of 3,375.
Only time will tell.
US markets hope of a new covid19 relief bill have been dashed
as this is now very much an election issue / blame game.Never give up, never surrender.
Trump has used a directive to bypass congress, which
will give unemployed $400 a week instead of $600
but states have to give 25% and as many are
near bankrupt the payments may be $300.Legal challenges are likely.
This package is nowhere near to what many hoped.
It’s all politics from here to 3rd November.
Never give up, never surrender.
- You must be logged in to reply to this topic.