shortorlong
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Atilla
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Hi guys,
By my targets H&S has fulfilled it's build up and conclusion to a T. Having hit the 12750 regions I'm now rudderless.
At a basic level, I feel the bears have lost the struggle for 13000. Support is giving way like the ice caps - melting away.
Any further rejection of 13000s will take us down further. How much, I'll have to get my ruler out on Sunday and work it out...
This chart shows what I've been following recently and the pivot points shows how last night it hit S1 bounced back up to P and now breached below S1 and heading towards S2.
The H&S may conclude a reversal of the bullish trend also.
Good trading everyone...
PS Time we booted McClaren out to touch. Never liked him and always suspected he was behind Svens one man up front attack formation in the World cup. What a twit. All that quality and skill in the team and we play one man up front. **** system. Really really ****.
By my targets H&S has fulfilled it's build up and conclusion to a T. Having hit the 12750 regions I'm now rudderless.
At a basic level, I feel the bears have lost the struggle for 13000. Support is giving way like the ice caps - melting away.
Any further rejection of 13000s will take us down further. How much, I'll have to get my ruler out on Sunday and work it out...
This chart shows what I've been following recently and the pivot points shows how last night it hit S1 bounced back up to P and now breached below S1 and heading towards S2.
The H&S may conclude a reversal of the bullish trend also.
Good trading everyone...
PS Time we booted McClaren out to touch. Never liked him and always suspected he was behind Svens one man up front attack formation in the World cup. What a twit. All that quality and skill in the team and we play one man up front. **** system. Really really ****.
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shortorlong
Established member
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Hi guys,
By my targets H&S has fulfilled it's build up and conclusion to a T. Having hit the 12750 regions I'm now rudderless.
At a basic level, I feel the bears have lost the struggle for 13000. Support is giving way like the ice caps - melting away.
Any further rejection of 13000s will take us down further. How much, I'll have to get my ruler out on Sunday and work it out...
This chart shows what I've been following recently and the pivot points shows how last night it hit S1 bounced back up to P and now breached below S1 and heading towards S2.
The H&S may conclude a reversal of the bullish trend also.
Good trading everyone...
PS Time we booted McClaren out to touch. Never liked him and always suspected he was behind Svens one man up front attack formation in the World cup. What a twit. All that quality and skill in the team and we play one man up front. **** system. Really really ****.
nice work Atilla .... hope you caught some points on the way down today you called it after all ..I missed the last slide even though I was of the opinion it would sell off before the holiday ,, as it did before the last US holiday ..the news just gets worse and worse for the US economy .. but I am trying to ignore news in my trading so I had to discount my opinion .. andI was loath to risk losing any hard won points before the holiday .. it would ruin my week and you can't make money when the market is closed :cheesy: .. well it's down to the ftse I guess but that could be quiet too
dc2000
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the reasoning for the volume spikes and subsequent selling around the 864 is the larger players going flat ahead of thanksgiving it doesnt matter where we go over the next two days as long as we are back at yesterdays price for a rally starting Monday
fibonelli
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"....The Dow Jones Transportation Average declined for a sixth day to the lowest level since September 2006 as the Dow industrials dropped to the lowest since April. The simultaneous lows signal the start of a bear market to investors who follow ``Dow Theory,'' which views the transportation and industrial gauges as harbingers of economic trends..".
Source:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aPlXHAmgccUE&refer=home
Source:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aPlXHAmgccUE&refer=home
shortorlong
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I look forward to it .. you got a target for this rally? .. I am thinking it might be short lived .. but that's me thinking about economic news again.
firewalker99
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I suggest to not only look at the huge volume, but also what it does to price.
You're already halfway there. Think about what you originally were going to do, but then ultimately decided not to. Think in terms of public versus professionals, weak hands versus strong hands,... whichever term fits you.
Nice to see somebody else for a change post an intraday chart with their thoughts.
Last edited:
Is this a gift or what ?
.......... re European indices ...we all know that until it breaks the trend pattern of one or two day counter trends we are still going down ... BUT anyone (other than Dc [:cheesy: ]) think we may have seen the worst for now ?
Dow is back to feb highs and in 3rd drive down...
Spx completes 10% downmove but after almost 6wks down is still above the aug lows...
Dax now at 7510ish 200ma
Just a thought .......... and please no "trade what u see" comments :cheesy:
If my memory serves me right ... then these leaderless (no US) days often end up or pretty close to days high.
When you consider the mess last night it should be fun!
.......... re European indices ...we all know that until it breaks the trend pattern of one or two day counter trends we are still going down ... BUT anyone (other than Dc [:cheesy: ]) think we may have seen the worst for now ?
Dow is back to feb highs and in 3rd drive down...
Spx completes 10% downmove but after almost 6wks down is still above the aug lows...
Dax now at 7510ish 200ma
Just a thought .......... and please no "trade what u see" comments :cheesy:
If my memory serves me right ... then these leaderless (no US) days often end up or pretty close to days high.
When you consider the mess last night it should be fun!
dc2000
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13680 will be my target for the rally
If your trying to decifer volume spikes the key is to look at what price they occurred and where the price has been. were these covers for longs, selling to take money off the table, or short selling ?
catracho
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Well on days like this I usually read - catch up on newsletters, chart watching etc..
only thing about this move lower being over is there seem to be a LOT looking for the tradeable rally - thanksgiving, holiday season - call it what you want - DOW seems to be in a bullish down wedge formation - DAX is resisting the pull lower...HOWEVER we all know that when everybody is looking for the move - it will usually go the other way.
Personally I think we still need the classic panic dump DOW etsting AUG lows, FTSE below 6k, DAX ????, THEN we will get a tradeable rally higher..even if the trend may now be DOWN
days like these are usually EXTREMELY low vol, stocks being pushed a few % with low volumes...
DAX -anybody noticed we have filled ALL recent trading gaps..so I guess 7600 will be near term target -
Spare a thought for the bears...
Cat for me I've got to look for some kind of rally cos my "little bears" are burned out...exhausted... overfedlol: ). Consequently, they are dying for some kind of rally even if it's not the 7-12d variety ....they can't take any more ... all this sky diving is not good for their tiny hearts ..... remember it's winter they want to do a bit of hibernating ... but the markets won't let them...
Cat for me I've got to look for some kind of rally cos my "little bears" are burned out...exhausted... overfed
lol: ). Consequently, they are dying for some kind of rally even if it's not the 7-12d variety ....they can't take any more ... all this sky diving is not good for their tiny hearts ..... remember it's winter they want to do a bit of hibernating ... but the markets won't let them...
firewalker99
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