Higherorlower
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will it come today or will markets make me wait until tomorrow?
Dow looks like it's drifting higher with no momentum. Is that a sign that the top is very close? Will you be shorting at the target you mentioned, or will you wait for confirmation that C has completed?
Respect to you for your forecast and for sharing it.
dc2000
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I will be taking money off the table and looking for next target and price to get on I expect the FTSE and others to keep price high tomorrow, gap down from here price up, then look for a short Wednesday
Dick Lexic
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nice trading dc
dc2000
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cheers
Im now out of FTSE, although I still expect target later today after a slight pullback its time to wait for next entry. Im also still playing with shorter time frames just for fun.
Dick Lexic
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thinking a trip down to fib 212
Dick Lexic
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s&p might oblige with a tick below 1200
I've been away in the westcountry since thursday, and it is interesting to see how much strength there has been over the last two days. Yesterdays 2% up day on the ES, closed at highs at 9pm. It looked to me as if a short at the highs at 1208.25 would have been a good play. It only went 1.75 pts against you overnight and 1200 was a good exit.
As for the FTSE this morning, I managed to scalp 37.5 pts, which is ok for a rangey sort of day. I managed to catch the down move at 8:10am, but after that the market seemed to be waiting for the results of the Italian bond auction at 10:15am. With the 10 yr bond achieving yields above 5%, the market finally decided that was bad news and went down to exactly the 5223.5 level. I expect that level will be retested when the US market ipens at 2:30pm. The consumer confidence number is clearly going to be bad. The question is will it be forced up after the initial spike down, or will the market turn red. My guess is they will walk it up, but maybe wait until after the european cash markets close at 4:30pm.
As for the FTSE this morning, I managed to scalp 37.5 pts, which is ok for a rangey sort of day. I managed to catch the down move at 8:10am, but after that the market seemed to be waiting for the results of the Italian bond auction at 10:15am. With the 10 yr bond achieving yields above 5%, the market finally decided that was bad news and went down to exactly the 5223.5 level. I expect that level will be retested when the US market ipens at 2:30pm. The consumer confidence number is clearly going to be bad. The question is will it be forced up after the initial spike down, or will the market turn red. My guess is they will walk it up, but maybe wait until after the european cash markets close at 4:30pm.
Dick Lexic
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great result martin well done are you still trading 30+ ?
dc2000
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a nice walk to the top of the hill into 5:30 would suit me too like a Rolls Canardly
dc2000
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bingo
Dick Lexic
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5212 nice whwn a plan comes together :cheesy:
I didn't trade it, so still up 37.5 pts.
I left my computer to cook up some lunch and assumed it would be dead until 2:30pm. Then for some reason it fell out of bed at 12:59pm on some volume. Can't tell if it is down to Merkel's comments or the Fed's Evans or Fitch saying France needs further structural reforms. Fact is we went through the 5223.5 level and bounced off my next level down which was at 5203.0. That should now make the range between those two levels, but let's see if the yanks can force this up in the pm. My guess is no, but let's see what happens.
