FTSE, DAX, DOW Trading Ideas and discussions

The S&P has posted four consecutive gains for the first time since January and is now about 65 points off last week’s low. The tide turns quickly. Yes there have been lots of ups and downs this year, but the character of the movement is that reversals happen quickly and suddenly and if you wait for all your signals to line up, you miss it. In fact by the time all your signals line up, it’s too late, the market is already at the other extreme.
Janet Yellen speaks today before Congress. She’ll deliver prepared remarks and then field questions. Be aware. Given how sensitive the market is to news headlines, it’s entirely possible we get some abnormal movement.
Over the weekend and then again in the video I sent out Monday I stated the path of least resistance was up and my bias was to the upside. I highlighted several indicators that were supportive of a rally – at least in the near term – and also laid out criteria that would support a continuation of the rally. For example, the 10-day of the AD line needed to break out of its down-sloping channel, take out its two previous highs and print a relatively high number. So far, so good. The AD line has done very well, and if it continues, the stage will be set for the market to not only rally to a new high, but to build on it.
from Jason Levitt
 
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covered short on DOW
Just in case Jellen comes with some market moving stuff
 
SPX - Daily Chart - PP Levels


Still needs to breach LH level of PP-R2 @ 2120 imo. Trying but losing steam perhaps or just trending waiting for Fed Yelen speak.

Prepared for the rises but over all still favour down side and will maintain short bias.


MOST importantly - markets waiting for rate view, magnitude and timing. September seems reasonable to me... :rolleyes:
 

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Guys I love a short but the markets are just a slow grind up and until that changes I won't be doing any shorts. You will lose money and die of boredom as it is a very slow rise.
 
NickBk said:
Guys I love a short but the markets are just a slow grind up and until that changes I won't be doing any shorts. You will lose money and die of boredom as it is a very slow rise.
Click to expand...
not quite
plenty of points of 11550 today
and 11540 earlier
 
dentist007 said:
not quite
plenty of points of 11550 today
and 11540 earlier
Click to expand...


I was more referencing the Dow shorts.

Dax today was over at 10.00 for me, a short followed by a long. Since then 50 points movement in 6 hours, not what I got used to over the last few months.
 
Atilla said:
Great stuff... About time we had a pull back. Any idea what's spooked it?

Not the lil ol sweet lady I hope.

Maybe a bit of this... http://live.reuters.com/Event/Greek_Debt_Crisis_4
Click to expand...

have no idea, Jellen spoke for a long time saying very little,
I was expecting that move to come earlier, I have also added shorts on the top of both, so together is came to a reasonably good trade. Flat now, Greek scenario.
 
Long from 11500. 500 point stop. Investment trade. Markets driven by politics right now. I think this is the buying chance of the year. Looking for 12000 within a few weeks

Forget trying to day trade this.
 
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