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Full moon later today
Never trust a ‘h’ near a full moon
Never give up, never surrender.
Small short Dow at 27970 … stop 30000 … limit 26150
I want a retest of the ‘two little feet’ 30th & 31st July
Never give up, never surrender.
Today is S3L after spill up to seal S2L wednesday.
That lean now looks much better from an STD view.
Never give up, never surrender.
Today is S3L after spill up to seal S2L wednesday.
That lean now looks much better from an STD view.
Dax & Cac & Ftse have tended to this action so far today.
Never give up, never surrender.
Small short Dow at 27970 … stop 30000 … limit 26150
I want a retest of the ‘two little feet’ 30th & 31st July
Closed 27870
Never give up, never surrender.
Got the STD lean and some pts but not exactly a sell off.
Have to see where US markets close tonight and see if there
is a late trade into friday’s S4H after spill down.Never give up, never surrender.
“Even an effective coronavirus vaccine will not return life to normal
by next spring, a group of leading scientists has warned.” (BBC)When the markets get real on this subject, we will head
for the 2021 ‘low stock prices’ predicted by W. D. Gann !Never give up, never surrender.
I am taking a less active trading plan for a while but
still want cover if the $ rallies and stocks sink.Small short GBP:USD at 1.28880 … stop tba … limit tba ( x 2 )
I get the carry and trade size is low enough on risk that I can
still get some potential / eventual fun and sleep at night 😉Never give up, never surrender.
DXY: the Dollar did indeed come down to complete the overlap of ‘wave a’. It has now satisfied the minimum needed to complete ‘wave b’.
If it wants to, it can now head straight upwards to the overlap at 95.8, but I don’t think that’s likely.
It can go a little lower and then trade sideways to form a triangle or flat for ‘b’ before then heading north.
Notice the RSI is bullish and has returned to the 50 line from where the next upleg can begin.
SPX: I had two routes upwards – a rising wedge to 3,422 (where c=0.618*a) or a five to 3,490.
The way it’s looking at the moment I favor the wedge route as shown on this chart.
Today is STD 4 so the pattern can complete today if it wants to. Otherwise there’s STD 3, 4 Monday and Tuesday.
CAUTION : bear in mind that all of these patterns can also be interpreted as ‘fives’.
This is reinforced by the fact that SPX and DOW have traded and closed above their 21 and 50 day averages.
In the case of SPX the RSI can also be interpreted as ‘pointing upwards’.
I have been focusing on the potential downside to 3,100. That might be right, but we all know that one should avoid getting married to a particular view but let the ‘charts do the talking’.
Yes the patterns could be seen as bullish even to Nas aths !
Never give up, never surrender.
CAUTION : bear in mind that all of these patterns can also be interpreted as ‘fives’. This is reinforced by the fact that SPX and DOW have traded and closed above their 21 and 50 day averages. In the case of SPX the RSI can also be interpreted as ‘pointing upwards’. I have been focusing on the potential downside to 3,100. That might be right, but we all know that one should avoid getting married to a particular view but let the ‘charts do the talking’.
Cheers David.
My thoughts remain unchanged.
3100 has been my target and remains my target.
Ideally it needed to bounce no more than 3400 and so far that has held.
I do not like news. Today is NFP’s and that scares me. Good numbers and it may rally. Bad numbers and they talk of more stimulus needed, and it may rally.
For now I will still with the SPX 3100 plan.
Plan your trade, trade your plan!
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