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After that frantic early trading I am going to
guard my profits and await another entry point.Never give up, never surrender.
IF today’s Ftse action morphs into a 3 way whipsaw
then it would get back above 6100Never give up, never surrender.
SPX: if the cash market opens at these levels, a high probability assumption will be that we are in wave iii of 1 down (of C).
For 1 down overall I have an approximate target of 3,273.
I believe today (Wednesday) is STD day 2, so I’ll assume the trend will continue until Friday for completion of wave 1.
I have today as S2L
Ftse & Dax cash had spill up to seal Tuesday S1H
and down into S2L pt3S2L ‘normal’ is am lod and pm hod with the
later likely to spill up into thursday.Today should be a good indication of current bull / bear strength.
Never give up, never surrender.
I think this is spill up to seal S1H from tuesday.
Down into S2L pt3 should be next.
Never give up, never surrender.
Dax cash today is classic S2L after spill up to complete S1H tuesday
but still needs to rally some more later to keep the bullish tone.US stocks to follow that route
Closing prices of all stocks could be tricky to trade today.
Never give up, never surrender.
Dow cash hits overnight futures ‘h’
I am looking at the 3 o’clock rock 😉
Never give up, never surrender.
Small short Dow at 27830 … stop tba … limit tba
Just playing the STD odds lean for a few peanuts.
I thought today was going to be boring … not now !
Never give up, never surrender.
US stocks are very interesting at these levels and it
is hard to see what they are doing.When stock go against STD there is usually a reckoning.
Never give up, never surrender.
Ftse & Dax were in a rally but printed an early late ‘h’ (S2L)
and then sold off sharp into the close.EOM & EOQ book squaring perhaps.
Best play with care over US closing action later.
Never give up, never surrender.
Small short Dow at 27830 … stop tba … limit tba
Closed at 27930 … ouch 100pt loss
I fear another push higher then sell off late.
Never give up, never surrender.
Small short Dow at 27930 … stop tba … limit tba
Never give up, never surrender.
Small short Dow at 27930 … stop tba … limit tba
Close at 27730 giving +200pts – 100pts I lost earlier
Never give up, never surrender.
SPX: interesting day with the wild swings not reflected in the SPX cash chart. SPX jumped to near 3,400 then interestingly fell back to the area of the 21 and 50 day MAs.
Having exceeded 3,356 by quite a ways, I’ll guess that the only way SPX can now target the 3,100/3,125 area is if the current B wave becomes a triangle (see chart).
This is a guess, of course, but the chances will improve *if* we get the next leg lower to around the 3,300 area or touch lower.
SPX failed to decline due to support from the falling DXY (chart follows).
Daily RSI is sitting at 50 so a decline and sideways movement is needed to keep the RSI in bearish territory.
Also, a triangle will allow the MACD to rise gently towards and perhaps above zero, creating an opportunity for divergence if we do indeed see the eventual decline to the 3,100 area.
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