- Status
Head and Shoulders is complete on the Dow
Chart:
THE MARKET BEAR: Oct 15th Dow Head and Shoulders
And some detailed info:
Head and Shoulders Top (Reversal) - StockCharts.com
500 down today?
Chart:
THE MARKET BEAR: Oct 15th Dow Head and Shoulders
And some detailed info:
Head and Shoulders Top (Reversal) - StockCharts.com
500 down today?
Daily
5 minutes
I will considered long again @ around8600-8800...
Thank you all for this great respons.
You saving my life here...
What resistance is there at the bottom...
What can we expect a further fall i hear also people say a rebounce
on thursdag and friday....
Should i volume up down or lower my trade....?
All best Sylvain.
You saving my life here...
What resistance is there at the bottom...
What can we expect a further fall i hear also people say a rebounce
on thursdag and friday....
Should i volume up down or lower my trade....?
All best Sylvain.
Well I caught that one well .. made some nice money today
The Fed seems to be totally interventionist right now and will throw anything it can at sliding markets (not a good move long term IMHO since sooner or later they completely run out of bullets and 0% interest rates puts them into the same position Japan was in)
I wouldnt be surprised to see another rate cut mooted and then rushed through but my guess is more bad news pushes this back to test the lows - esp after the election
See how bad Asia is tonight, and how bad any data is tomorrow - markets getting spooked. Always going to happen when they woke up and realised this was never just a credit problem and in fact that whole debacle will just make the recession deeper and longer
Long term my guess is we bounce a little then spike down - depends on how bad any data is, but I see it bouncing around in the 8000's until the election, after which it tanks (as it always does and the markets wont like Obama)
Lot og money to be made day trading this volatilioty though - tight stops as always but if you catch these huge waves you can make a lot. I know I have
cool:Ok i will stay in longer....
I guess i will have to see thurday. i am all the way short from 9500
so no worries here. I do follow the elliot wave short term newsletter thou.
But you were telling me exactly the same thing so i am convinced !!
Let stay in touch joe ! Regards.
Sylvain
I guess i will have to see thurday. i am all the way short from 9500
so no worries here. I do follow the elliot wave short term newsletter thou.
But you were telling me exactly the same thing so i am convinced !!
Let stay in touch joe ! Regards.
Sylvain
Hi Joe. Lovely head and shoulders that was. Sometimes it lands so perfectly it hurts.
Stu-Boy.
Pat494
Legendary member
- Messages
- 14,614
- Likes
- 1,588
We retest the lows (7700) at some point before months end, rally, set a new low after the election and then start a slow bull run from there. My guess
Pat494
Legendary member
- Messages
- 14,614
- Likes
- 1,588
Interesting Article about crashes
The problems had emerged around 1870, starting in Europe. In the Austro-Hungarian Empire, formed in 1867, in the states unified by Prussia into the German empire, and in France, the emperors supported a flowering of new lending institutions that issued mortgages for municipal and residential construction, especially in the capitals of Vienna, Berlin, and Paris. Mortgages were easier to obtain than before, and a building boom commenced. Land values seemed to climb and climb; borrowers ravenously assumed more and more credit, using unbuilt or half-built houses as collateral. The most marvelous spots for sightseers in the three cities today are the magisterial buildings erected in the so-called founder period.
But the economic fundamentals were shaky. Wheat exporters from Russia and Central Europe faced a new international competitor who drastically undersold them. The 19th-century version of containers manufactured in China and bound for Wal-Mart consisted of produce from farmers in the American Midwest. They used grain elevators, conveyer belts, and massive steam ships to export trainloads of wheat to abroad. Britain, the biggest importer of wheat, shifted to the cheap stuff quite suddenly around 1871. By 1872 kerosene and manufactured food were rocketing out of America's heartland, undermining rapeseed, flour, and beef prices. The crash came in Central Europe in May 1873, as it became clear that the region's assumptions about continual economic growth were too optimistic. Europeans faced what they came to call the American Commercial Invasion. A new industrial superpower had arrived, one whose low costs threatened European trade and a European way of life.....
Dinos
Veteren member
- Messages
- 4,113
- Likes
- 714
Given the current volatility in the markets, take the Asian markets upp 11%, back down 11% a few days later, same with the Dow up 968, down 500 odd in the space of a few days. I personally will not be holding any position overnight whilst this volatity continues, much rather have a good nights sleep and wakes up ready to tackle the day and make some points rather than possibly finding myself a few hundred offside or stopped out. Just a thought.
- Status
