I dont usually post in this amount of detail but in view of
issues coming up on other threads I thought you might like to get
a feel for what's going on on this particular computer and bit of an insight about what I am thinking.
Yes, thanks for posting. You have a different trading method to me and it's interesting to see your entry points and reasoning.
I've only had 1 entry signal using my system, which I didn't take as I'm not confident about the market direction - if I had taken it I would have closed for a measly 1.5 points! System not working too well in these tight trading times and until I see a clearer direction I'll remain cautious. Having said that, I do expect a down market going into next Tuesday, so I'll be looking for a short later today.
thats my attempted approach having read both Piper and Tony OZ (The Stock Trader)
Market tested yesterday's intra day top at 4125 around 11/12.00, then rallied up to test the first support from high of 4170 around 4148. Appears to be failing. So back to test 4125 again. Not doing too much to-day ahead of US non-farm payroll numbers at 1.30 pm.
Despite my protestations about using EW, cannot the whole move from 18/06/2003 be classified as a Wave 4-profit taking. A basically extended sideways move.
Probably wrong thread. Any thoughts on the extreme moves by the US bond market since early June of over 1.2% yield in 30Y Bond? (+38%). When does it become an issue for the overall health of US economy/global economy?
I've been reviewing interpretations of the EW pattern for the Dow (yes I know this is the Ftse thread) and I don't think I have enough fingers to count them all. I do like EW, but right now it's useless, other than to say the markets at or near a top. It could go down or up from here, but other indicators suggest at least a 2 day down move. Personally I'll be looking for another pop up from mid-next week; then just have to see how high it goes by the 3rd week of August.
yes but then the stockmarkets were making new highs.
anyway correlation with bonds is not that good.
different traders involved I guess. so different trading reasons.
usually a lag between changes in bonds and stockmarket tops.
but it is a warning sign when at new highs.