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francisfinley
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were going full circle since the bell yesterday....
this is looking bearish Nasdaq and Russell made new high today Dow, S&P and Wiltshire did not. Head and shoulders still in play we did not close above 11665 on the hourly bars.
Whatever the low is at 9pm tonight if we have a hourly close below that figure tommorrow then I think the top is in. we could do with a close above 11608 today at least.
Whatever the low is at 9pm tonight if we have a hourly close below that figure tommorrow then I think the top is in. we could do with a close above 11608 today at least.
Mr.J-Arthur
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Ahhh, just finished the workout routine (and sauna+hot tub!). Felt good to just relax after taking 124 points out of the mini DOW today.
:clap: Today was like shooting fish in a barrel, but if you missed all the fun, tomorrow should provide a few points to grab. I expect some nice movement tomorrow...
Don't be afraid to sink your teeth in @ 8:45 and take a position. All of my MA's signaled entry for going long @ 11499 (with a bit of anticipation though).
CPI has risen, and it was above market expectation, so I'm not sure why there were bulls today? Eh, just follow the trend I guess. Or does increased inflation mean our markets go higher will the price of goods? SOMEONE come in and teach me, because apparently I only know how to trade and know jack $h*t about economics 101! Haha!
Tomorrow, any bets on direction? I thought today was going to be a big SELL so I got stopped out of my short extremely quickly once the MA's started moving up.
:clap: Today was like shooting fish in a barrel, but if you missed all the fun, tomorrow should provide a few points to grab. I expect some nice movement tomorrow...
Don't be afraid to sink your teeth in @ 8:45 and take a position. All of my MA's signaled entry for going long @ 11499 (with a bit of anticipation though).
CPI has risen, and it was above market expectation, so I'm not sure why there were bulls today? Eh, just follow the trend I guess. Or does increased inflation mean our markets go higher will the price of goods? SOMEONE come in and teach me, because apparently I only know how to trade and know jack $h*t about economics 101! Haha!
Tomorrow, any bets on direction? I thought today was going to be a big SELL so I got stopped out of my short extremely quickly once the MA's started moving up.
Dow closed at 11615, an hourly close below this intraday will prompt you to short this index?
francisfinley
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its certainly looking bearish since 11am. GMT...
catracho
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wedges
Look at daily charts most major markets trading in wedges...usually (?) continuation patterns...so more downside expected if we break to the downside...
test of July lows/break ...THEN a GOOD rally?
NB DAX may have already done so..FTSE close behind..so maybe a lead indicator for DOW...
If you be nimble then trading the range is ok...but gets harder as we get near the apex...
4 me best to wait for a break (one way or t'other)..bias to downside...😕
Look at daily charts most major markets trading in wedges...usually (?) continuation patterns...so more downside expected if we break to the downside...
test of July lows/break ...THEN a GOOD rally?
NB DAX may have already done so..FTSE close behind..so maybe a lead indicator for DOW...
If you be nimble then trading the range is ok...but gets harder as we get near the apex...
4 me best to wait for a break (one way or t'other)..bias to downside...😕
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I went short a couple of hours ago at 11665 spreadbet as the market is finding it hard to go above this level. My mistake yesterday, if the low of the 8.30pm bar is taken out on a hourly close then I think we are going lower. The market is hard to call at the moment as some indices are making new high some are not. I would have prefered the dow to have made new highs and got as high as the 11900/12100 area for a longer term short looking for a retest of the lows at 10800.
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if you are wondering why 8.30pm was important it was because it is 89 (89 is a fibonacci cycles number) hourly bars since the start of this up wave which started on the 29th of July 15.30. I was expecting the market to go higher into this time so am not really sure if it is going higher or lower now.
This (8.30pm dow cash) corresponds to yesterdays intraday support on YM at 11585 and the close of the hourlies on the 13th August, which we bounced off late yesterday to test 700 but unfortunately have not made it...
The worse scenario for bears is yesterdays daily candle formation is a double bar low higher close and green in colour. A bullish formation but might just be a lower high to 850...wow so may possibilities lie ahead...
665 short looks good with a stop at 710-ish...for the swingers that is..
Mr.J-Arthur
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ahhhh crap guys, today is a range, and looks like we may break to the upside, but I don't see the strength like yesterday.
Staying flat for now! happy weekend guys 🙂
Staying flat for now! happy weekend guys 🙂
francisfinley
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arrgh comeon its so sloooooooooooowwwwwwwwwwwwwww its painful. come on someone start a war or something.
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