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"This crisis is real and huge ................."
Just something to bear in mind as we hover over 1000pts off the lows.... :cheesy:
today is the 10th trading day since the big houses rallied this mrkt on jan 23, they have to hold their position for a minimum of 10 days and can't trade the 1st hour after the open,so watch the reaction to the morning us numbers a half hour after they come out
catracho
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Quick look at charts..
If we break below the flag/wedge formation on daily watch out below! On long term charts we have got a sell signal - 1st time since 2k -
Dow Theory sell signal still in force until we get new highs
in both industrials and transports
Long term European charts also don't bode well...short term - think we still need to test the Jan lows or lower..then see how mkts reacts...more rate cuts (not just US) may then mean a bottom in place for rest of year?
If we break below the flag/wedge formation on daily watch out below! On long term charts we have got a sell signal - 1st time since 2k -
Dow Theory sell signal still in force until we get new highs
in both industrials and transportsLong term European charts also don't bode well...short term - think we still need to test the Jan lows or lower..then see how mkts reacts...more rate cuts (not just US) may then mean a bottom in place for rest of year?
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One can assume that this trade is via a spreadbetting firm; where is your stop?
That is a reasonable enough stop. Whilst I do not mean to teach you what you already know, it is better not to have stops at round figures (just thought it should be mentioned).
theroguetrader
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DJI next week
the future shows a lo of 11,285 on 22 Jan,but its basically still in a downtrend - so it could go 100 lower... !!
BUT the nearest MA is starting to flatten, so it could - either go into a sideways range for a day or too and then " possibly " reverse back to the upside - (if the MA starts to curve more) -
best to wait until it trends ...... !!
the future shows a lo of 11,285 on 22 Jan,but its basically still in a downtrend - so it could go 100 lower... !!
BUT the nearest MA is starting to flatten, so it could - either go into a sideways range for a day or too and then " possibly " reverse back to the upside - (if the MA starts to curve more) -
best to wait until it trends ...... !!
firewalker99
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Well if you think it showed no trend today... I doubt it'll ever will.
Nice one Cat.....
4 now New Lows await I suspect .....700+ points to go.
Cb's seem frantic but powerless. People are now reluctantly starting to consider recession ............. so the possibility of a Depression can't be dismissed. This means Dow 10k at the min since Dot com collapse shed 4600pts over time ..and this seems much worse......
Still too much "optimism" ........... the penny hasn't dropped yet imo .....
If we break below the flag/wedge formation on daily watch out below! On long term charts we have got a sell signal - 1st time since 2k -
Dow Theory sell signal still in force until we get new highs
Long term European charts also don't bode well...short term - think we still need to test the Jan lows or lower..then see how mkts reacts...more rate cuts (not just US) may then mean a bottom in place for rest of year?
4 now New Lows await I suspect .....700+ points to go.
Cb's seem frantic but powerless. People are now reluctantly starting to consider recession ............. so the possibility of a Depression can't be dismissed. This means Dow 10k at the min since Dot com collapse shed 4600pts over time ..and this seems much worse......
Still too much "optimism" ........... the penny hasn't dropped yet imo .....
Closing the other half of last nights trade here at 12338 for 72 points.
dans_ya_man
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Good trading Devilicus
I think we will be in a congestion zone for the next couple of days and 13000 being a very strong resistance level
Devilicus...the long you posted was basically the low tick of the day yesterday and so far I think your exit was around the high. Got any more crystal balls handy?
Im still holding my long Should have closed some when you did.
Good luck everyone
Im still holding my long
Should have closed some when you did.Good luck everyone
Getting out here at 12355 for 70 pips.
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