hungrybear
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My downside target date isn't until Monday/Tuesday next week, but price target has almost been hit this morning. If my analysis is going to be right, this suggests we retrace upwards before a move down early next week, then a final push up into the first few days of November.
If this scenario plays out I'll be confident of the next move. I'll log-in with an update when I get back. Not trading today but watching
If this scenario plays out I'll be confident of the next move. I'll log-in with an update when I get back. Not trading today but watching
hungrybear
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Downside target is 4201 cash. Below 4200 would make my analysis suspect but it could go as low as 4177 at a push. Any lower and I'll have to re-assess.
hungrybear
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Fluke,
If 4177 breaks, then either the top is in for at least a few months or my expectation of a high early next month is way out. This is because if the Ftse then makes new highs after breaking 4177 it should go a lot higher and for longer, unless of course my EW analysis is way out - which it usually is :cheesy:
I should add that my analysis of timing is NOT based on EW, so I'll be very surprised if we don't drop a lot over the next few months probably with an Xmas rally - er, around Christmas.
If 4177 breaks, then either the top is in for at least a few months or my expectation of a high early next month is way out. This is because if the Ftse then makes new highs after breaking 4177 it should go a lot higher and for longer, unless of course my EW analysis is way out - which it usually is :cheesy:
I should add that my analysis of timing is NOT based on EW, so I'll be very surprised if we don't drop a lot over the next few months probably with an Xmas rally - er, around Christmas.
I do not want to get positive and spoil all the fun, but on the FTSE cash have we had a double bottom around 4212/14?
Additionally, Bonsai's MACD has made a higher high.
Of course a break above 4240 would be needed to confirm (though late by then).
Also we still have that gap to fill?
Additionally, Bonsai's MACD has made a higher high.
Of course a break above 4240 would be needed to confirm (though late by then).
Also we still have that gap to fill?
hungrybear
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Good point Mully - and if the Wall St futures don't move up they'll have 2 big gaps to fill. I'd expect some value buying to come in at these levels. Even if this is the revival of the bear market, at this early stage it's more likely to be seen as a bull-market retracement and another opportunity to buy.
M'soft results out later!!
Mully,
Where's the gap? None showing on Sierra. Are you referring to the drop this am?
Any chance of a chart?
MACD 5min just powwered thru 0 axis.
Not confident on the lonside- cannot see any reason to be in at the mo.
Mully,
Where's the gap? None showing on Sierra. Are you referring to the drop this am?
Any chance of a chart?
MACD 5min just powwered thru 0 axis.
Not confident on the lonside- cannot see any reason to be in at the mo.
Lockstock,
FTSE cash opened at 4239 having closed at 4286. The low yesterday was 4266. So the gap is between 4266 and 4239. You can check it on the 1 minute chart that usually is at the top of the thread (though not Octobers- check September's thread for chart)
FTSE cash opened at 4239 having closed at 4286. The low yesterday was 4266. So the gap is between 4266 and 4239. You can check it on the 1 minute chart that usually is at the top of the thread (though not Octobers- check September's thread for chart)
