hornblower
Established member
- Messages
- 884
- Likes
- 29
If you have some thoughts , then post them , your not going to get me, having a go at you cos I don`t agree with you
Even after 20 years I am still learning
good luck
hornblower
If you have some thoughts , then post them , your not going to get me, having a go at you cos I don`t agree with you
Even after 20 years I am still learning
good luck
hornblower
A mature response, thank you hornblower.
And I shan't have a go at you for being a Yorkshireman....... just kidding, just kidding.
hornblower
Established member
- Messages
- 884
- Likes
- 29
and why should you, Yorkshire is gods own country ,
Pat494
Legendary member
- Messages
- 14,614
- Likes
- 1,588
Great to see a bit of interest being shown.
I hope Candles saw my replies, which by mistake I put in with his message.
No trading Monday - President's day, but it will affect the S&P future prices.
My forecast of trendlines would have been 1355 - 1331
I hope Candles saw my replies, which by mistake I put in with his message.
No trading Monday - President's day, but it will affect the S&P future prices.
My forecast of trendlines would have been 1355 - 1331
hello,a few questions,what are the fins,what do u pay for 1 round turn on an spx future,and if you place an order, is there a few seconds delay, being that your in GB? By the way, i believe next week the spx will trade between 1295 and 1337
Pat494
Legendary member
- Messages
- 14,614
- Likes
- 1,588
Fins is Finspread.com a spread betting company. Min bet 50 pence ( they may do it in US $1 too in & out) a point. They usually quote 0.3 points either side of the market futures price for buy/sell unless the price is really moving quickly or expected to move.
I guess your order would be transmitted at the speed of light plus a bit.
They do lock up occasionally though and then one cant place an order.
Last edited:
S&P showed very narrow range Friday, easily an NR7: actually its an NR36, narrowest range since 26/12, coincidentally? the base day for the current symmetrical triangle: range less than 1%. Did not breach triangle trendlines. Price action formed a hammer, often bullish after a downtrend: but as we weren't in a downtrend I suspect we can put a discount on the significance of the S&P (and Dow) hammers (one is yin and one yang anyway).
NR7s suggest imminent increase in price volatility and breakout through the triangle. Better late than never but which direction? London covered both options by trading up, then way down, but the FTSE was only trying to re-balance with the Dow and obviously isn't going to lead the S&P.
I feel the option here would be to place a buy order above and sell order below S&P Friday range and await developments. The range is narrow so the opposite extreme would be a viable stop (though at under 1% the range make it more possible that whipsaw would hit both entry points in one day). Of course, I don't really expect the markets to break out of the triangle northwards but it would be prudent to cover that possibility in case of e.g. a surprise interest rate cut annoncement before the US open Tuesday.... and that should ring some bells after last time. Should be another interesting week.
NR7s suggest imminent increase in price volatility and breakout through the triangle. Better late than never but which direction? London covered both options by trading up, then way down, but the FTSE was only trying to re-balance with the Dow and obviously isn't going to lead the S&P.
I feel the option here would be to place a buy order above and sell order below S&P Friday range and await developments. The range is narrow so the opposite extreme would be a viable stop (though at under 1% the range make it more possible that whipsaw would hit both entry points in one day). Of course, I don't really expect the markets to break out of the triangle northwards but it would be prudent to cover that possibility in case of e.g. a surprise interest rate cut annoncement before the US open Tuesday.... and that should ring some bells after last time. Should be another interesting week.
bhatia_ash
Newbie
- Messages
- 5
- Likes
- 0
S&P should face stiff resistance at 1388-90 area, and would be an attractive place to get short as the stops wont have to be huge, (above the recent high @ 1404 e-mini futures).
the last us bond auction a week ago fri,the dealer took 90% of the trade because there was little foriegn money interest in the trade,my assumption would be that U.S. can't afford to cut int rates anymore at this time so mrkts if they haven't leveled off will,im no macro economics wizard,not even a novice but keep that in mind
Devilicus. I couldn;t get through to you on your PM. Box full?
anyway. the webiste adress is:
FORUM4web dot com
anyway. the webiste adress is:
FORUM4web dot com
came quite close to my profit target this morning then bounced. Never mind. Still holding it.
there should be enough volatility today for a good trade, intraday or otherwise. My bias for the preopen is to the downside.
To be clear though. every trade I enter has a specific stop loss attached to it. If it gets hit, not to worry, another trade will be on the day, on the ES or something else.
So, if one wants to enter short, put the stop loss and wait to close the trade in the area of 1365. Depending on the approach a long trade from that level should be considered. There is another level to look for furher down, but will look at that, as the day progresses.
Pat494
Legendary member
- Messages
- 14,614
- Likes
- 1,588
ajaskey
Well-known member
- Messages
- 281
- Likes
- 12
Current Outlook
Andy's Market Watch - Outlook
Updated 08-Mar-2008
I continue to see mid-March as a low. We had a follow through in price this week making it look like the move to the low is on. There was a lot of confusing daily price action last week. But if you look at the SPX intermediate term chart below, you will see the weekly bar finished near the low and is obviously bearish.
A move to SPX 1230 would be bullish. Anything beyond that price could turn the following multi-month bull move into just an oversold rally. I see Bill McLaren has already given up on the strong move up based on his reading of price action and expects only an oversold bounce from this point. I don't see this on the SPX yet - as long we never close below 1230. I am not an E-Wave purist and would not mind an interday spike well below 1230. But reality and what I think are not synonymous and reality has beaten me every time, so far.
Assuming we stay above SPX 1230, my guess is this: The A-B-C correction between the first 5 wave cycle and the second 5 wave cycle (completed in October) lasted 218 calendar days. Whether the rally will be wave 1 of the final five wave set of the bull market or wave 4 of this correction will be determined by October. Other factors pointing to a mid-March move are:
* The 5 year cycle from the March 2003 bottom
* 50% time of October to January move
* 75% time of March to October 2007 move
* March 14th is 240 degrees from the July top on the VLE Gann emblem chart.
* March 6th is 144 degrees from the October top on the SPX Gann Emblem chart (people love that 144 number - I have not found it all that exciting...)
Looking at my public list of dynamic charts, I see the SPX attempting to complete an a-b-c off the January bottom. As long as this move stays below 1406 we can consider it wave 4 of the move down from October - with wave 5 to come into mid-March.
As always, I could be completely wrong...
Andy's Market Watch - Outlook
Updated 08-Mar-2008
I continue to see mid-March as a low. We had a follow through in price this week making it look like the move to the low is on. There was a lot of confusing daily price action last week. But if you look at the SPX intermediate term chart below, you will see the weekly bar finished near the low and is obviously bearish.
A move to SPX 1230 would be bullish. Anything beyond that price could turn the following multi-month bull move into just an oversold rally. I see Bill McLaren has already given up on the strong move up based on his reading of price action and expects only an oversold bounce from this point. I don't see this on the SPX yet - as long we never close below 1230. I am not an E-Wave purist and would not mind an interday spike well below 1230. But reality and what I think are not synonymous and reality has beaten me every time, so far.
Assuming we stay above SPX 1230, my guess is this: The A-B-C correction between the first 5 wave cycle and the second 5 wave cycle (completed in October) lasted 218 calendar days. Whether the rally will be wave 1 of the final five wave set of the bull market or wave 4 of this correction will be determined by October. Other factors pointing to a mid-March move are:
* The 5 year cycle from the March 2003 bottom
* 50% time of October to January move
* 75% time of March to October 2007 move
* March 14th is 240 degrees from the July top on the VLE Gann emblem chart.
* March 6th is 144 degrees from the October top on the SPX Gann Emblem chart (people love that 144 number - I have not found it all that exciting...)
Looking at my public list of dynamic charts, I see the SPX attempting to complete an a-b-c off the January bottom. As long as this move stays below 1406 we can consider it wave 4 of the move down from October - with wave 5 to come into mid-March.
As always, I could be completely wrong...
Similar threads
