Looks like 10430 has provided a good level of support today. As you say, a breakthrough should see it down to test 10400 but it would really need to convincingly breach the latter to trigger a triple digit drop.Racer said:
With oil moving up again to $67.45 this might be on the cards yet !
JillyB said:Is that the same as Marmite?
If so, then definitely Yuuuummmmmmmmmmmmy!!!!!!!!!!!!!!!!!!!
Heathen!
Vegemite is an Oz creation and even Marmite is different between UK and NZ/Oz
Would you believe I take NZ Marmite to my daughter in UK and bring back UK Marmite for some UK-born friends in NZ.
Crumpets? Yuck
Just about as unappetising as the market at present.
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An apology as my contribution has been a little non-existent at the moment as I've been extremely busy. Nevertheless I've still been following the markets as always.
Current trend is still: UP
This is true, as from my research as far as the weekly chart of the Dow is concerned. However make no mistake that this Upward trend line is very very slowing moving and in terms of progress we have managed around 600+ points from the lows of 10,100-00 since April....
Now today's session was a little nervy and we saw the majors gaining slightly.
Is this still a shorting opportunity? 100% yes.
As far as the 'long term trend' is concerned these levels are still great to short with the market still having chances of moving higher towards 10700. The up move looks over but it is by no means dead.......
10400 is a crucial crucial area. If yesterday’s action was solid bear stuff then we would have seen at least a touch towards 10400 today as we were only 35points away. No touch and 10400 remains in tact to provide support as far as this week is concerned. A weekly close below this level, if and when it comes will be extremely significant and we could see a furious down move, which could well be far worse then 10900-10000.
Daily Candles - Intraday heavy resistance: 10700
Weekly Candles - Intraweek heavy resistance: 10650
Intraday/Intraweek support: 10400
A critical juncture as far as 10400 is concerned. However this weeks intraweek support is not necessarily next weeks intraweek support as the upward trend line is of a rising nature and therefore the figure to watch for next week would be somewhat higher then 10400.
That’s the information gathered from my research. (A neutral perspective - I hope)
If you want an opinion then I would say we could well get one last bounce and stay above 10400-500-600 for a little while longer before the hurricane selling kicks in.....
If we move higher or simply range bound for the rest of this year then that’s no problem as I feel great about shorting at these levels as next year according to my analysis will be pretty bad........A bit like 2000.......whipsaw......range movement......indecisive.....and then.......bang......
Good Luck either way......
Just a little added note: If you have found this thread to have been useful/helpful to you in any way then may be you might think about giving the thread a rating?
The thread is widely active and is now approaching 200,000 views but just a mere 26 members have provided this thread with a rating/feedback. So please be kind enough to do so, this would then provide frequent users/members/participants of this thread with the opinion of viewers as to if the content in this thread is satisfactory or not.
Many Thanks
User
Current trend is still: UP
This is true, as from my research as far as the weekly chart of the Dow is concerned. However make no mistake that this Upward trend line is very very slowing moving and in terms of progress we have managed around 600+ points from the lows of 10,100-00 since April....
Now today's session was a little nervy and we saw the majors gaining slightly.
Is this still a shorting opportunity? 100% yes.
As far as the 'long term trend' is concerned these levels are still great to short with the market still having chances of moving higher towards 10700. The up move looks over but it is by no means dead.......
10400 is a crucial crucial area. If yesterday’s action was solid bear stuff then we would have seen at least a touch towards 10400 today as we were only 35points away. No touch and 10400 remains in tact to provide support as far as this week is concerned. A weekly close below this level, if and when it comes will be extremely significant and we could see a furious down move, which could well be far worse then 10900-10000.
Daily Candles - Intraday heavy resistance: 10700
Weekly Candles - Intraweek heavy resistance: 10650
Intraday/Intraweek support: 10400
A critical juncture as far as 10400 is concerned. However this weeks intraweek support is not necessarily next weeks intraweek support as the upward trend line is of a rising nature and therefore the figure to watch for next week would be somewhat higher then 10400.
That’s the information gathered from my research. (A neutral perspective - I hope)
If you want an opinion then I would say we could well get one last bounce and stay above 10400-500-600 for a little while longer before the hurricane selling kicks in.....
If we move higher or simply range bound for the rest of this year then that’s no problem as I feel great about shorting at these levels as next year according to my analysis will be pretty bad........A bit like 2000.......whipsaw......range movement......indecisive.....and then.......bang......
Good Luck either way......
Just a little added note: If you have found this thread to have been useful/helpful to you in any way then may be you might think about giving the thread a rating?
The thread is widely active and is now approaching 200,000 views but just a mere 26 members have provided this thread with a rating/feedback. So please be kind enough to do so, this would then provide frequent users/members/participants of this thread with the opinion of viewers as to if the content in this thread is satisfactory or not.
Many Thanks
User
Attachments
Greenspan comment
Negative comment from Greenspan this afternoon in relation to the possible consequences of the serial increase in Fed interest rate hikes
"History has not dealt kindly with the aftermath of protracted periods of low risk premiums"
Negative comment from Greenspan this afternoon in relation to the possible consequences of the serial increase in Fed interest rate hikes
"History has not dealt kindly with the aftermath of protracted periods of low risk premiums"
More from Greenspan today
More from Greenspan today
Fed paying closer attention to rising value of assets such as housing and stocks as low interest rates encourage greater risk taking.
Market participants should not become complacent over a sustained period of economic stability and take the continuation of this for granted. If investors should become more cautious in due course then interest rates could rise further and asset values could decline.
More from Greenspan today
Fed paying closer attention to rising value of assets such as housing and stocks as low interest rates encourage greater risk taking.
Market participants should not become complacent over a sustained period of economic stability and take the continuation of this for granted. If investors should become more cautious in due course then interest rates could rise further and asset values could decline.
