FTSE, DAX, DOW Trading Ideas and discussions

[MichaelJohnFX]

Been hovering over Twitter this morning and a lot of SpreadBetters recording hefty losses this week. Some their worst loss of the year. Moral of the story, don't try and catch the falling axe.

 

[f2calv]

Been hovering over Twitter this morning and a lot of SpreadBetters recording hefty losses this week. Some their worst loss of the year. Moral of the story, don't try and catch the falling axe.

Please share their handles... I want to make myself feel a little better.

 

[Dentalfloss]

Been hovering over Twitter this morning and a lot of SpreadBetters recording hefty losses this week. Some their worst loss of the year. Moral of the story, don't try and catch the falling axe.

They will get alot of it back next week when there some recoils

 

[ariesr]

I hope not, am still sitting on an sb short.

Seriously.........Overall picture, am looking to hold for further slide over next fortnight.

 

[MichaelJohnFX]

 

[MichaelJohnFX]

It has been observed over the past 3 corrections since 1998, the market has dropped all in July sometime by roughly 20% before continuing on to make a new high. In 2011, market corrected roughly 15 - 20% and made a new high again. S&P has only dropped roughly 9%. The key levels are 1810- 1704. If that holds, the market may go on to see another high. It has been observed over the past 3 corrections, the market has held at support and rallied to make new highs starting at the ending of September / beginning of October. Further downside to come IMHO but watch that 1704/1810.5 levels.

Chart Below

 

[MichaelJohnFX]

For FTSE it's around 5340 area =/
Dax 9300 area

Obviously you cannot call the areas, but good nonetheless for possible reversals, but wait for the confirmation..

 

[Dentalfloss]

YEAH....possibly Chronic
but......you gotta take out this area first !!

 

[Dentalfloss]

from the chart
a very wide area of res.ie wide and thick/ 1000 point area of res
price into prev breakout area/horizontals
long column of "O"s...possibly oversold
trend supp on 3 reversal 1% box size...close plot to boot
prev supp 10674 area
lets see what happens
ther could be a 600 point bounce ....10460 area is 50% of move down
think that spreadbetters will get back alot of their losses this week
then...a bad bounce...shorts in for the kill

 

[Dentalfloss]

up the box size
you get a very clear picture
price now testing breakout point/aqua in 10k area
trend supp is 9718-9863/green
prev res 10626 area

here is the good bit...there is approx 1000 point trading range while market decides which direction it wants to go.....lol....spreadbetters will get their losses back quickly

technically.....we should get a bounce


if it bounces 10091 area....alot of messing about in that area on the daily
then 10161 area

 

[Dentalfloss]

spreadbetters salivating now...perfect bear trap area

retail traders could have upped their $$ per point thinking that it could follow thru....lol

we are in a technical area for a bounce........sentiment does not count now....uneless more bad news...and a 1000 point trading range added in for more pleasure....

many positions might automatically get closed !!

2027 is 50% area on spx..gives us approx 60 point trading range....not as wide as dax....what a shame
2068 the breakdown point..that gives us a 100 point range if a bigger retrace...better

 

[Atilla]

I concur we need minimum 20% pull back and this was much touted by many analysts last year. (Back last October we only had 10%)

On Monthly charts - looking at;

Fib retrace 23% -> 1770
High probability we'll test 38% -> 1558

fwiw - on Monthly charts PP-S3 is @ 1965 so pretty much hit it on the nose.

PP-S2 @ 2004 and this is likely to be the first target if the bulls want to fight back.

 

[MichaelJohnFX]

 

[MichaelJohnFX]

Right...if 10,000 area is to provide a bounce, the minimum retracement target would be 10,600 area (baring anymore bad news - it's pretty much been priced in). 10600 was also the breakout area. If you're to use Eliott Wave, I think that was wave 2 to 3 movement.

Further downside would be in that 9300 area lol

A bounce should see 10087, and then 10172 area, trend res the latter. So very similar to dentists areas

 

[MichaelJohnFX]

S&P - in an area for the bounce.
2038 the breakout.
1888 area trend support.

That weekly candle closed below the major support line - purple.

A poke - could be a bear trap.

 

[Atilla]

This may have already been commented on but DAX has already dropped 23% from 2008/9 lows.

To match DAX's drop, SPX would need to drop to 1785 (23%).

The numbers I'm looking at for the next couple of weeks are;

FIB - SPX - DAX

23% - 1785 - 10300
38% - 1570 - 9010
50% - 1400 - 7980
61% - 1225 - 6950

fwiw, any bounces are opportunities to sell. Further down side on the menu.

Hate to repeat only short bias but there are more turbulent times ahead. Global growth is slowing. Even Nigeria thinking about floating the Naira. So not only do we have slowing down, excessive debt, Fed rate mess and now we have uncertainties of floating exchange rates to business.

Earnings will be all over the place and they will be down. These have to be factored in. So any rises will be limited, short sighted and very premature.

 

[samspade79]

IG showing china down 6 odd % lol !

 

[jeffre4]

christ dow dax ftse getting hammered too

 

[Dentalfloss]

No technical bounce.....lol

 

[Dentalfloss]

Finally got 9713...trend supp as we said over the weekend