Dow 2007

[lurkerlurker]

Well that settles it for today.

I'm thinking tomorrow we will touch purple. :cheesy:

If not we'll roll Purple over and kiss 700 hello.

I'm not a fan of indicators, but the hourly MACD could be worse. The crosses at extremes have done quite well picking tops and bottoms. The current convergence seems a little bearish.

If you notice the decline in volume over the last few days, combined with the failure to convincingly breach 700 on an uptrend day, I think we could see more downside from here.

Amusing little projection attached of the head and shoulders I see. Hint: Today we formed the top of the head, and Friday, Monday and Tuesday were the left shoulder.

 

[counter_violent]

Well that settles it for today.

I'm thinking tomorrow we will touch purple. :cheesy:

If not we'll roll Purple over and kiss 700 hello.

Who invited socco onto the thread

 

[Atilla]

Who invited socco onto the thread

Ke?

 

[lurkerlurker]

Who invited socco onto the thread

Who is socco and what do you mean?

 

[Atilla]

Who is socco and what do you mean?

Spelling error - means locco maybe? :cheesy:

 

[Atilla]

I think it's going to be a cracking day.

The DOW, SPX500, FTSE100 & DAX all showing extended areas and still rising.

Did somebody use the word amazing? Too right. I hope it doesn't end in tears...

 

[jacinto]

I think it's going to be a cracking day.

The DOW, SPX500, FTSE100 & DAX all showing extended areas and still rising.

Did somebody use the word amazing? Too right. I hope it doesn't end in tears...

probably a very silly question, but honest dont know. somebody else posted a link to actionforex and suggested a high correlation between euryen and dow (cant remember, but think it was smbnt).

do you guys actually monitor this or not concerned? cause the yen has been making a decent move and wondering if it is an indication of the time to come, or if it lags, or im just ignorant (last option is the most likely so be kind with me) .

thanks.

j

 

[Atilla]

probably a very silly question, but honest dont know. somebody else posted a link to actionforex and suggested a high correlation between euryen and dow (cant remember, but think it was smbnt).

do you guys actually monitor this or not concerned? cause the yen has been making a decent move and wondering if it is an indication of the time to come, or if it lags, or im just ignorant (last option is the most likely so be kind with me) .

thanks.

j

I don't monitor the relationship but I would guess the USDJPY is rising because in the bond markets some people are already pencilling in a rate increase.

If the Asians and most people are selling the dollar or coming out of it, the only way the US can finance it's budget defecits to get people to fund it's debts is to raise rates.

However, USDJPY also looks over extended.

Should add I'm not certain about it all.

Long term still very bearish just a questioning of when. Markets are rising at the mo so I'm going by my blue or purple plans and will take it from their if they are breached or not.

I'm almost embarrassed to confess I made money out of going long. (All credit to other traders on this thread. Thank you.).

 

[jacinto]

thanks atilla. have a good day today.

 

[lurkerlurker]

Triple Witching

Isn't equity triple witching today? Is this the same for indices? Does this mean it is better not to trade?

US open in a few hours - may paper trade today.

Best of luck to you all.

 

[free4440273]

Isn't equity triple witching today? Is this the same for indices? Does this mean it is better not to trade?

US open in a few hours - may paper trade today.

Best of luck to you all.

...it is indeed. and the same for indices also. "better not to trade?" - depends if you can make money out of the (expected) volatility. i won't be trading purely because i am trading forex at this moment (and it ain't foing too well )

 

[2468steve]

Isn't equity triple witching today? Is this the same for indices? Does this mean it is better not to trade?

US open in a few hours - may paper trade today.

Best of luck to you all.

June expiration is actually a quadruple witching where contracts for stock index futures, stock index options, stock options, and single stock futures (SSF) all expire...triple witching doesn't include stock futures..

cheers

 

[firewalker99]

Did somebody use the word amazing? Too right. I hope it doesn't end in tears...

did you make a spelling error there? perhaps you meant "end in bears..." :cheesy:

 

[Atilla]

did you make a spelling error there? perhaps you meant "end in bears..." :cheesy:

I like that... Very good.

Lets hope so...

FW you still haven't enlightened us about your suspicious thoughts. ? You going to open the lid to your box or what?

 

[brutusdog]

any one know why the dax has just gone nuts....

up over 50 in 1 min...

that will be the news then

 

[Atilla]

any one know why the dax has just gone nuts....

up over 50 in 1 min...

that will be the news then

Everybody happy inflatin means strong economic activity. This is just the pre-climax hype.

Everybody happy core inflation is down from previous levels.

Let's all ignore it's still rising but the good news is the rises are slowing down.

This is like slowing down from 100 mph to 90 mph in a 70 mph speed zone. I'm sure the market police will understand our good intentions. :cheesy:


Going to have nice lunch now come back to some action hopefuly.

 

[lurkerlurker]

I shorted that. Yes, you read that correctly. I sold 13717 and covered as soon as I realised my mistake at 13740. I was trying to go long. I've lost £23. Bugger!

 

[firewalker99]

I like that... Very good.

Lets hope so...

FW you still haven't enlightened us about your suspicious thoughts. ? You going to open the lid to your box or what?

Oh about that. Well I am looking for something to sustain my feeling that this needs to blow-off with a vengeance. So far today the DAX sure is putting things on fire. Looks like a new high is imminent. DOW not so far off...

 

[counter_violent]

Oh about that. Well I am looking for something to sustain my feeling that this needs to blow-off with a vengeance. So far today the DAX sure is putting things on fire. Looks like a new high is imminent. DOW not so far off...

:cheesy: What are you saying firewalker....that monthly / weekly trends and phases should be our guide...and not 5m / 15m charts for picking direction......or am I just putting words in your mouth ...lol

 

[2468steve]

Oh about that. Well I am looking for something to sustain my feeling that this needs to blow-off with a vengeance. So far today the DAX sure is putting things on fire. Looks like a new high is imminent. DOW not so far off...

FW....i'm showing colosal volume on Dax today...can you confirm or is my data wrong ?

cheers