US Indices intraday trading - JULY 2003

[snip]

Thanks a320 for the info..

With my limited experience thats just about what I would do, try and catch it testing the new resistance(old support). The question is, where is the next support, is it:
995 high on 6/7
997 as said above
998 latest low today

This is where I get problems.

 

[snip]

Thanks 'stoploss please' for those S & R levels. Most of them are very long term levels.

 

[a320]

Didn't seem to miss much whilst having dinner with the lovely Caroline )))

Up/down for the last hour on s&p???
I have a feeling we'll have a run to close the falling window around 1006 area? Must be loads of stops around that area?
just a thought, see how it pans out



a320.

 

[zcaprd7]

shame it wasn't the same with caroline ;}

 

[SUNSEEKER]

sorry, got sidetracked...will be biased long as long as we are holding 997 in the SP

 

[a320]

Busy planning/preparing Tom? or trading?

Don't work too hard!!!!!


cj

 

[SUNSEEKER]

Yeah Caroline knows how to swing that casserole!!!

 

[SUNSEEKER]

both! and practicing some good old pattern recognition

 

[SUNSEEKER]

A320, have you voted for me again twice!!!!! I must go in and vote for you again!....I wonder how it will affect your score if I rate you Cr_P....will you go red?

that would make up for the url

 

[a320]

We can't afford southern dishes like that!!!!, bit of dipping n tripe for us northern folk!!!! :cheesy:

Keep them votes coming in!!!!, i think I'm already on cr@p rating!!!

cj

 

[SUNSEEKER]

you never came across like a cheapscape...maybe Caroline was right!!!!

anyway, for the seriious reader.....we are pushing higher but got a short off the 0.618 at 1004.50 in the SP500..

whenever you get sell-offs in the morning, you very often get retracements up to 38.2, 50, or 61.8....the fact that we are making higher lows and higher highs on 5 min suggest that they will attack 61.8 again....1005 is a buy in my book....

 

[Bullish Bear]

is this becoming the Eurovision Song Contest?

 

[SUNSEEKER]

ah, well bull bear , you know what happended...I think Denmark won it in recent memory...apparently the whole country went beserkk......weired people

 

[a320]

I agree, the fibs always a great guide, those stops around 1006 should give us some upward momentum, see how that falling window plays out?


cj

Hi B_B not seen you post for a while!

 

[a320]

Thank you bulls for that


cj

 

[JE2000]

Turkey won the Eurovision Song Contest and the UK got 0 points (wonder why?)

 

[Skimbleshanks]

I bet Germany and Italy will be giving each other nul points in next year's event :cheesy:

Oh, silly me! I forgot that politics don't come into the Eurovision Song Contest.

 

[SUNSEEKER]

Good morning,

The market issued a decent sell signal last night at the close. The action yesterday was textbook manipulation. The people in the know smashed the market down after getting the market higher on the open. They then walked away and came back in the final 30 minutes and sold the market off again. The Yahoo news did not help the situation. I think that there will be much more liquidation coming.

Remember that many Internet stocks have gained more than 100% in 3 months. Once they start to slide it will be an avalanche as no one will want to buy. The run-up has been a momentum play and a brilliant one as well. The turn in the Bradley model seems to require patience here but as I already showed you earlier in the week, the cycles are turning down into the end of the month. As long as the SP500 is trading below 1004 the path of least resistance will be down. We could very well see more weakness today as we make our way to 980.

If the market is able to get back above 1005 and 1008, then the short side is off and we should see an attempt to go above 1015 and 1021. For now I am inclined to the short side, and will use 998 as confirmation for being short.

Tom

 

[rudolf]

Morning, Tom. It's worth keeping an eye on the jobs data due 1.30pm, as that could make or break today's path. 410k, perhaps less, should see a positive opening so will watch the SB prices post announcement. 430k should give you 10/10 for the first 1/2 hour Rudi

 

[SUNSEEKER]

Hey Rudolf, you naughty boy!

did you see me on CNBC. They cut me off halfway through, I just wanted to hear from someone who saw it,,,because I dont know if I ran out of time or because the microphone failed....

If we are headed down to 8000 by the end of September, this fall will be very gradual, about 12 points a day,,,,

anyway, thanks for responding, it gets a bit quiet here. I think you guys mostly trade the FTSE....I suppose I could do some analysis on that index