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Tom
You said earlier you might do some analysis on the FTSE.
I'm sure that would generate a lot of interest. I personally would be very grateful if you have the time. Although I don't trade the US markets I find this thread fascinating. One has to watch what the US does anyway because of the affect on the FTSE.
You said earlier you might do some analysis on the FTSE.
I'm sure that would generate a lot of interest. I personally would be very grateful if you have the time. Although I don't trade the US markets I find this thread fascinating. One has to watch what the US does anyway because of the affect on the FTSE.
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The SB companies' spread/bias can certainly work in your favour if you can exit when she's tumbling - I covered my Dow short at 9007 on the 11:55 ET bar (16:55 UK time).
Tom
I would amplify Jean's message re the FTSE. I, also, watch this thread, but trade the FTSE. There is a chap (or chapesse) called bonsai on another thread who posts very informative comments on the FTSE.
If you have the time, I'm sure a lot of us would value your analysis of the FTSE.
I would amplify Jean's message re the FTSE. I, also, watch this thread, but trade the FTSE. There is a chap (or chapesse) called bonsai on another thread who posts very informative comments on the FTSE.
If you have the time, I'm sure a lot of us would value your analysis of the FTSE.
UEEEHHHSS,,, I am little intoxicated after half pint of shandy...
thats unfortunately that limit for my kidney...I will talk to Bonsai and see how I can help...I dont trade the monster myself but geometry applies to all freely traded markets....
Better go now
thats unfortunately that limit for my kidney...I will talk to Bonsai and see how I can help...I dont trade the monster myself but geometry applies to all freely traded markets....
Better go now
Juniper down nearly 5% afterhours, Intel down 0.39%Cisco down 1.31%, Ciena down 3.31%... Is that where next support is on S&P, Tom. What about the 7 down days on the bounce last year on this time period. You mentioned it earlier this week. Think theres any chance? Speak in the morning. Off to bed now...
if today does not make sense, blame my hangover
Good morning,
The 982 area held last night. I had hoped for the 980 area but as it turned out, the geometry at 982. I have attached a chart so you can see the significance of 982. If the market breaks 982 it is a sell, and the target will be the funny spike low at 974.50. The market is in trouble as long as it is trading below 993. Above that would mean a short covering rally above the 1000 area. Essentially the first hour will be the key today. Today is the only day the bulls have to save the rally. Otherwise the SP500 will test the 960 area. It is clear to me that the scenario I told you about two days ago is coming true. The market was held up to allow the guys in the know to go maximum short SPY and QQQ. I would not be surprised to see a good rally today to allow them to sell at higher prices again. The scenario I am working on is the chart I showed you earlier in the week. This is the longer-term cycle that supports a big sell-off until the 21st July. I fear it will be a grind, as most bulls believe that every dip is a buying opportunity. I will not be until we take out 960 that they all of a sudden realise that we are headed down.
The alternative scenario, which I can’t overlook at the moment, is the impulse wave up from the March lows in the Dow. I can’t show you that chart because it is hand-drawn. This chart points to much higher prices to come, near 9970 in the Dow. I will dismiss this scenario until the Dow takes out the last 0.618 big degree retracement at 9350.
The expected path today shows a very choppy trading day.
Have a great weekend
Tom
Good morning,
The 982 area held last night. I had hoped for the 980 area but as it turned out, the geometry at 982. I have attached a chart so you can see the significance of 982. If the market breaks 982 it is a sell, and the target will be the funny spike low at 974.50. The market is in trouble as long as it is trading below 993. Above that would mean a short covering rally above the 1000 area. Essentially the first hour will be the key today. Today is the only day the bulls have to save the rally. Otherwise the SP500 will test the 960 area. It is clear to me that the scenario I told you about two days ago is coming true. The market was held up to allow the guys in the know to go maximum short SPY and QQQ. I would not be surprised to see a good rally today to allow them to sell at higher prices again. The scenario I am working on is the chart I showed you earlier in the week. This is the longer-term cycle that supports a big sell-off until the 21st July. I fear it will be a grind, as most bulls believe that every dip is a buying opportunity. I will not be until we take out 960 that they all of a sudden realise that we are headed down.
The alternative scenario, which I can’t overlook at the moment, is the impulse wave up from the March lows in the Dow. I can’t show you that chart because it is hand-drawn. This chart points to much higher prices to come, near 9970 in the Dow. I will dismiss this scenario until the Dow takes out the last 0.618 big degree retracement at 9350.
The expected path today shows a very choppy trading day.
Have a great weekend
Tom
Attachments
Tom, am I reading this right...at 9am the Dow futs were at 9018 with vol of 295 contracts at $5 each. Vol when posted was 492 contracts. 197 x $5 = $9985. The price was 9045. Doesnt take much. Then once momentum gets going brings is buyers and short covering.
In effect $25000 worth of buying moved futs up 60 points!!!! Yesterdays total vol was @ 47,000 contracts. So whats been traded so far is a drop in the ocean.
In effect $25000 worth of buying moved futs up 60 points!!!! Yesterdays total vol was @ 47,000 contracts. So whats been traded so far is a drop in the ocean.
DanielLambert
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