Trading with point and figure

[Dentalfloss]

need to see 1975 as supp
alot of res from 1975-1990

 

[Atilla]

need to see 1975 as supp
alot of res from 1975-1990

Yes agree and along with FTSE and DAX quite a few psycho levels 6000 and 10,000 and 2000 have now been breached.

It will be very hard imo to get over them without CBs colluding in a concerted effort to reassure markets.

Another 10% fall due, as was much talked about last year.

 

[Dentalfloss]

our 10050-10100 area working well
1968..excellent
all from yesterday

wham..it keeps dumpin
Stops tightened

 

[Dentalfloss]

Stops 're.tightened

 

[Dentalfloss]

Stops 're.tightened

Stopped out
Excellent run
Dax and spx

 

[Dentalfloss]

A manipulation....ready for an nfp pop

 

[dowsp]

Spx seemed to be at Possible Support...on a 70.7 % retrace of its last main 4 to 5 month range..

I have possible Support on the Dow at 17460....Will it hold upto or when the NFR are realeased..

A break below...then..

The Dow had not even reached its 61.8 % retrace that I estimate at about 16360..
that May offer some support...but generally the 61.8 % fib retraces dont work too well on the Dow..usually more 66 to 71 % or 78 to 82%

If it rallys.. and 17460 has held...there is a trendline in around the 16800 level at the moment.. but above that....then we may see a rally to the 38.2% retrace zone of the last months range to 17040 ...or maybe to the 50% level at 17200..

If the market is Still in a longer term downtrend, I wouldnt expect it to retrace back above the 38.2% retrace 17040 level...

I think it may reverse back down again Monday upto Late January..

 

[Dentalfloss]

A manipulation....ready for an nfp pop

gotcha

 

[dowsp]

Trendline on the Dow seems to have hit 16760 not 16800..

it was at around 17800 earlier in the day... but come lower since.. not sure if it will hold short term..
with a reversal into Cash Market hours 14.30 to 15.00 hrs or so..

 

[Dentalfloss]

goin either way

 

[Dentalfloss]

dax

 

[Dentalfloss]

either direction
calling out levels might deplete your account

 

[Dentalfloss]

rapidly...lol

 

[Dentalfloss]

it gets nasty if 1950 is res after a good NFP
but.....earnings start next week..

 

[Dentalfloss]

9962 a horizontal supp

 

[Dentalfloss]

1950 bounce/psycho level
taken with a tight stop

 

[Dentalfloss]

9911 on the cards...whammo
stop tightened

 

[Dentalfloss]

1947 spx supp area not taken out...maybe...maybe not
who cares

 

[Dentalfloss]

as we said..its goin either way

 

[Moneylender]

Just come back from a lovely lunch and a few bevvies and see the SP @ 1946 And DAX at 9900!

What the hell happened to cause that drop?