Daily Dax

[catracho]

not sure about a long here..we may get a couple of days downward draft...so prefer to wait abit..(altho on very short time frames move looks overdone ..)

 

[Hook Shot]

not sure about a long here..we may get a couple of days downward draft...so prefer to wait abit..(altho on very short time frames move looks overdone ..)

Seen the dax recover from this kind of situation so often I'll have to take a pop if the dow hangs in there..... be daft not to ... ???

 

[firewalker99]

Yes the trend is broken now, for real this time... but we only selling slowly (yet?)...
I'm looking to buy around 7450 potentially...

and a long it is!
from 7452 (June futures)

 

[firewalker99]

Trendline

and we've tested the trendline... hoping to move clear of that now!

not much strength in DOW (yet?)

 

[Hook Shot]

Is dax an opportunity ?

Dax cash is 7450 almost 100 off it's highs ... the lack of movement after hours indicates it believes Dow will not bounce much.... If Mr Dax is wrong there's a few points on offer into Euro sesh.......:cheesy:

 

[Hook Shot]

Can't understand why Dax cash won't join the party ! At 7465 (and dow almost at new all time highs) it should be nearer 7500 surely ??

Good call Firewalker

 

[firewalker99]

Can't understand why Dax cash won't join the party ! At 7465 (and dow almost at new all time highs) it should be nearer 7500 surely ??

Good call Firewalker

Thanks, I got in nice and early :cheesy: very happy with the trade!

I'm out of it already because it has retraced 50% of the downmove... might be failing to go higher today.

 

[Hook Shot]

Can't understand why Dax cash won't join the party ! At 7465 (and dow almost at new all time highs) it should be nearer 7500 surely ??

I've campaigned vigorously for equity and fairness (?) in market pricing ...and finally the market seems to be listening....as Dax cash ratchets up towards 7480 ....

I WANT 7500+ TOMORROW....... nothing else will do (cash is now 7479 to buy) :cheesy:

Having said all that it's not just the Germans who seem out of sync. Ftse is lagging too ... maybe that's another opportunity just maybe ?!

 

[firewalker99]

I've campaigned vigorously for equity and fairness (?) in market pricing ...and finally the market seems to be listening....as Dax cash ratchets up towards 7480 ....

I WANT 7500+ TOMORROW....... nothing else will do (cash is now 7479 to buy) :cheesy:

Having said all that it's not just the Germans who seem out of sync. Ftse is lagging too ... maybe that's another opportunity just maybe ?!

Any thoughts on today's action? Buyers seem to have vanished! But it's not exactly selling hard neither...

 

[catracho]

Still going for the 2-3 day correction scenario..like you said no real selling so we may see prices drift (especially ahead of FOMC decision this evening)..and maybe a sharp move down over next couple of days to finish the correction, before the rally resumes? - Any longer/bigger move south may mean we have a larger correction (ie of the upmove from March lows)

 

[Pat494]

I've got a Long signal from my EOD indicator !!
It may take a day or two to kick in.

 

[firewalker99]

Still going for the 2-3 day correction scenario..like you said no real selling so we may see prices drift (especially ahead of FOMC decision this evening)..and maybe a sharp move down over next couple of days to finish the correction, before the rally resumes? - Any longer/bigger move south may mean we have a larger correction (ie of the upmove from March lows)

Have you noticed how the pattern of last 3 days (especially in the AM session) is remarkably similar?

 

[Hook Shot]

Still going for the 2-3 day correction scenario..like you said no real selling so we may see prices drift (especially ahead of FOMC decision this evening)..and maybe a sharp move down over next couple of days to finish the correction, before the rally resumes? - Any longer/bigger move south may mean we have a larger correction (ie of the upmove from March lows)

Wise call catracho..
I guess you're lying in wait to pounce on dax for upwave ... ?
Hard to short dx here ... but not so hard for dow if opp arises :cheesy:

 

[catracho]

agree seems late to short dax...looking for a possible move sub 7300 to go long Also FTSE holding relatively well..seems like it should have support at 6450 ish...

can't quite believe that the rally has finished yet..but can't rule it out..all depends on price action...

my preferred scenario is we are in a wave 4 (acc to a lot of elliott wavers - notorious to trade) with wave 5 to come - to NEW highs - that would also tie in with Bills ideas (rally to mid June then bear move begins) www.mclarenreport.net.au

then we get at minimum a correction of the move up from March 07 lows..or (food for bears) a correction of the whole rally from Oct 02 lows...

that's the longer term picture for me..

 

[Jbat001]

It's been 48 hours of trouser trauma! Look at that chart!

 

[Pat494]

I've got a Long signal from my EOD indicator !!
It may take a day or two to kick in.

Bit of a hiccup on Thursday but +3 now !

 

[Jbat001]

Bit of a hiccup on Thursday but +3 now !

I take my hat off to you for riding that one out - I just rode it all the way down and all the way back up again myself, not a very funny ride I must say!

 

[firewalker99]

Very similar pattern...

These are two charts, one of Russell 2000, other is of DAX...

Notice the similarities

1) V-reversal on ER2 (on May 1 and 2)
2) failure to make a new high
3) sliding further away...

Now look at the DAX chart
1) V-reversal (May 11 and 12)
2) it cannot get past 7550 (brick wall?!)
3) ... initiating downmove now? :|

 

[catracho]

still no resolution yet...but we must be close !! Either a big push through resistance..or a sharp fall to test 7300 (cash) level?...

 

[firewalker99]

still no resolution yet...but we must be close !! Either a big push through resistance..or a sharp fall to test 7300 (cash) level?...

today was sure a messy day... what a choppy afternoon... luckily we have other markets to trade!