Trading the SPX

  • Thread starter Thread starter wasp
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Market does not look weak a this point but I don't expect a new high based on the completion of 2 five wave bull moves from the Oct02 bottom. The correction should go into Mar08 and possible into Oct08.

VST : http://ajaskey.wso.net/investor/Pix/SPX_VST_Time_GA.gif
SPX_VST_Time_GA.gif


ST : http://ajaskey.wso.net/investor/Pix/SPX_ST_Time_GA.gif
SPX_ST_Time_GA.gif


LT : http://ajaskey.wso.net/investor/Pix/SPX_LT_Time_GA.gif
SPX_LT_Time_GA.gif
 
Gann Emblem

Here is the Gann Emblem (ignoring the triangle part) using the October 11th top as the starting point. The link contains both a circular and linear view.

Gann Emblems
 
thanks ,ajask,the dow ,spus ,naz,and russel all hit resistance lines on friday maybe a sell off coming
 
ammo said:
thanks ,ajask,the dow ,spus ,naz,and russel all hit resistance lines on friday maybe a sell off coming
Click to expand...

Could be the move will run to January 10ish. I am not shorting anything until January. Although, the move could stop on December 19th. But then maybe a retest into the 10th. Completely a guess, of course....
 
connect 11/1 and 11/30/07 his on dow and spus and you get major support buyers came in and ran it up, top line on spus will be 1515 ish
 
andy

ammo said:
connect 11/1 and 11/30/07 his on dow and spus and you get major support buyers came in and ran it up, top line on spus will be 1515 ish
Click to expand...

andy throw us a crumb up here ,what say your crystal ball,hope alls well
 
Joules MM1 said:
a platform spike ? does your data supplier know?
Click to expand...

Doesn't look like it's on my platform alone. There's a 100-point spike on the DOW too, and according to this, somebody pulled the wrong trigger 😱

"Someone, an unfortunate soul, just made an error and sold 60,000 e-mini contracts and plunged the market for a minute or so. Now we are back up to where we were." (from Trader Tom: : Dow, FTSE, Dax and NASDAQ)

There's a thread on ET as we speak, apparently the exchanges will bust those trades...
 
firewalker99 said:
Doesn't look like it's on my platform alone. There's a 100-point spike on the DOW too, and according to this, somebody pulled the wrong trigger 😱

"Someone, an unfortunate soul, just made an error and sold 60,000 e-mini contracts and plunged the market for a minute or so. Now we are back up to where we were." (from Trader Tom: : Dow, FTSE, Dax and NASDAQ)

There's a thread on ET as we speak, apparently the exchanges will bust those trades...
Click to expand...


I like the TICK chart 🙂

I don't have it on my platform, but here it is

When a computer goes NUTS 🙂 | Riding the DAX

:clap::clap::clap:
 
firewalker99 said:
Doesn't look like it's on my platform alone. There's a 100-point spike on the DOW too, and according to this, somebody pulled the wrong trigger 😱

"Someone, an unfortunate soul, just made an error and sold 60,000 e-mini contracts and plunged the market for a minute or so. Now we are back up to where we were." (from Trader Tom: : Dow, FTSE, Dax and NASDAQ)

There's a thread on ET as we speak, apparently the exchanges will bust those trades...
Click to expand...


I find that very hard to believe. My chart is only showing a total Volume of 53, 921 contracts for that minute. Also, the largest single trade that can be made (as far as I am aware) on the E-mini is 2000 contracts. So are they suggesting someone erroneously did this 30 times? The CME website isn't loading charts at the moment, maybe they are correcting this 'error'.
 
new_trader said:
I find that very hard to believe. My chart is only showing a total Volume of 53, 921 contracts for that minute. Also, the largest single trade that can be made (as far as I am aware) on the E-mini is 2000 contracts. So are they suggesting someone erroneously did this 30 times? The CME website isn't loading charts at the moment, maybe they are correcting this 'error'.
Click to expand...

See above 🙂 Tick chart painted by a computer as this is not possible manally 😆
 
There is also a position limit of 20,000 net long or net short....need more info, I still can't accept this as a trader error. So, did this 'pour soul' sell and buy all the way down? Doesn't stack up. Maybe Dax Destroyer can explain.
 
I chatted with my broker and word is that the exchange is busting anything done above 1422 and anything below 1398.

Well, I never...:-0
 
new_trader said:
I chatted with my broker and word is that the exchange is busting anything done above 1422 and anything below 1398.

Well, I never...:-0
Click to expand...

That's what I've heard too... I wonder how one must feel if he/she just made a huge winner on that spike 😕
 
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