1400 this week ?

rathcoole_exile

Veteren member
3,924 767
will the ESU2 hit 1400 this week ?

I have a Reversal Short pencilled in at exactly that level,
so let's see if we can get a false breakout a few sniffs above it
and then blam ! back down to Earth......
 

troyresearch

Active member
132 0
Looks like we're well back in that territory again. I reckon we may head for 1430 on the S&P and 13380 on the DJIA before we're back into reversal territory. The VIX closed at 15 on Friday suggesting the reversal is nearing.
 

rathcoole_exile

Veteren member
3,924 767
i've rarely seen new Weekly Pivots so close together.

last week's trading range was so tight, it looks like we're set for an explosive week now ?

of course, the perennial question is - which direction ?
:)
 

troyresearch

Active member
132 0
Based on my read of the Dax weekly chart, once the correction does begin I'm targeting around 6500, though I'd assume that move to take 2-3 weeks to fully play out.
 

scose-no-doubt

Veteren member
4,630 954
Based on my read of the Dax weekly chart, once the correction does begin I'm targeting around 6500, though I'd assume that move to take 2-3 weeks to fully play out.

Big talk... what do think is going to happen that will trigger the destruction of 7 trillion dollars worth of current perceived value if you don't mind my asking?
 

troyresearch

Active member
132 0
Big talk... what do think is going to happen that will trigger the destruction of 7 trillion dollars worth of current perceived value if you don't mind my asking?

My trading style isn't based on fundamentals, so I couldn't tell you even if I wanted to. A fifth of the way there this week ($1.4 trillion in your speak), though don't expect things to move in a straight line. Or am I merely feeding a troll?
 

scose-no-doubt

Veteren member
4,630 954
My trading style isn't based on fundamentals, so I couldn't tell you even if I wanted to. A fifth of the way there this week ($1.4 trillion in your speak), though don't expect things to move in a straight line. Or am I merely feeding a troll?

1.4 trillion is approx 10% of the MCap of all the companies so I'm not sure where you're getting that from as the index hasn't dropped anywhere near that much.

Personally, I tend to look at variance in assessing price movement so when people come out with shouts like that it garners my interest.

Either of you (rathcoole mason inc.) care to put up a chart showing what you're looking at that makes you think this is a likely scenario? C'est intriguing.

And why do you think I'm trolling?
 

rathcoole_exile

Veteren member
3,924 767
Big talk... what do think is going to happen that will trigger the destruction of 7 trillion dollars worth of current perceived value if you don't mind my asking?



I've just realised something.
might be a silly question Scose
but you do realise he's on about the DAX at 6500, not the Dow ?
:eek:
 
 
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