35854 replies to this topic

[Lekkerry]

If you see some comparisons, maybe look into the dual-listed stocks for cues. (P.s. just mentioning it, not looking into this myself)

 

Does the FTSE now follow SA40?! Not likely!!? I'm confused! 

[BBW]

Now how's this, 40000 (IG40) exactly at FTSE turning point (6465)!!?

Does the FTSE now follow SA40?! Not likely!!? I'm confused! 

[BBW]

Now how's this, 40000 (IG40) exactly at FTSE turning point (6465)!!?

[OceanWalz]

Changes are very good from the 5H candle forming she is going to bounce...possibly into Monday!(1000 points?)

 

But got a PF count of 1678 (no positive divergence yet on the dailies) on the SPX from the top pattern so this should not be the final low before we head towards 42000 into March!

 

Might just see that magic 38000 on the futures before she turns for good 

Morning A, seems like you are defining a good chance for bounce between now and a good short opportunity? what is your suggested target to short again from this potential bounce? 

[Argento]

Changes are very good from the 5H candle forming she is going to bounce...possibly into Monday!(1000 points?)

 

But got a PF count of 1678 (no positive divergence yet on the dailies) on the SPX from the top pattern so this should not be the final low before we head towards 42000 into March!

 

Might just see that magic 38000 on the futures before she turns for good long!

 

A

[Lekkerry]

Hello OceanWalz.

 

No, not yet, I am restraining myself here. The 1d (IG charts) hasn't touched the RSILower yet. If nothing else, I absolutely agree with your sentiment in your prior post, not much buying out there, thus will wait patiently for the RSI to connect.

 

One needs to be flexible here, so if I see IG Top40 reaches higher 39850 - 39950 (reading the 1h), that might be my cue that the tide is turning.

 

... Must admit, the 100 points a day vs long term trade is a dilemma for me currently.  

 

you went long L for bounce?

[OceanWalz]

you went long L for bounce?

[OceanWalz]

Not yet, RSIlower not reached yet on 1d. Hold them longs for now me thinks... Still some downward push required.

RSI almost at your target!! think your'e right     and T40 Cash = 39674  

-  however not much interest in buying out there - people dont trust market at the moment

S&P futures green 

[BBW]

Sliced through the "support" you mentioned.

 

Consider my targets. Let us see.

 

Now this is funny (these technical stuff); without changing anything, this is the graph I'm getting now, with support just under 39000?? (2nd one)

Attached Files

•  SA40.docx   408.55KB   27 downloads

[BBW]

The only support Im seeing is welfare support!

Yes, maybe wishful thinking, but testing... (still nett short)

[BBW]

FTSE yet to join this party....

O yes, forgot, they're not open yet. Was looking at the Futures instead of the Indices! 

[AJS]

Let's see if there's a retest? At the moment I'm considering everything possible! (FTSE going up, but we're dropping; something to do with the ZAR?)

 

FTSE yet to join this party....

[BBW]

Sliced through the "support" you mentioned.

 

Consider my targets. Let us see.

 

Let's see if there's a retest? At the moment I'm considering everything possible! (FTSE going up, but we're dropping; something to do with the ZAR?)

[Lekkerry]

Not yet, RSIlower not reached yet on 1d. Hold them longs for now me thinks... Still some downward push required.

 

That possible turning point is 3967## (J200).

[Lekkerry]

Sliced through the "support" you mentioned.

 

Consider my targets. Let us see.

 

 

Don't know much, but seems to be on major support?

[BBW]

Don't know much, but seems to be on major support?

Attached Files

•  SA40.docx   207.49KB   29 downloads

Edited by BBW, 04 February 2014 - 09:13 AM.

[Lekkerry]

So, how convinced am I on this: I am willing to "pull a chubby" and load the longs at this level on J200 (upper 39600s)! Obviously when we reach this level alter today perhaps, need to reassess the market sentiment and the chart movements.

 

That possible turning point is 3967## (J200).

[Lekkerry]

That possible turning point is 3967## (J200).

 

Ok, a new morning, a fresh look at the charts.

 

The BBand is a tad shod atm. Having (b)reached the BBL, ALSI is still descending. Enter the RSI (14). The next practical turn-around could occur when the RSIlower line (+-28~30) is reached. In the above scenario (1d, using BBand and RSI: if the BBL is breached, the RSIlower is the next turning point (using IG charts).

 

I am not sure how to calc when the RSI will reach this level, but any down pressure today and this will be the case, setting up for one massive up-leg (413## on J200 to reach the MA, after-which, if it breaks through, 428## is not impossible). NOTE: there are a couple things to happen before this pans out..

 

Happy trading gents (and ladies). 

[Lekkerry]

Ok, a new morning, a fresh look at the charts.

 

The BBand is a tad shod atm. Having (b)reached the BBL, ALSI is still descending. Enter the RSI (14). The next practical turn-around could occur when the RSIlower line (+-28~30) is reached. In the above scenario (1d, using BBand and RSI: if the BBL is breached, the RSIlower is the next turning point (using IG charts).

 

I am not sure how to calc when the RSI will reach this level, but any down pressure today and this will be the case, setting up for one massive up-leg (413## on J200 to reach the MA, after-which, if it breaks through, 428## is not impossible). NOTE: there are a couple things to happen before this pans out..

 

Happy trading gents (and ladies). 

 

Plasma.... my advise is: DO NOT TRADE ALSI (Top40). It is toxic! Heavy sell-off, decent pick-up just to sell-off further. Feels like the Cape's 4-seasons-in-one-day scenario. 

 

<shaking head>

[davidp13]

BLOOD IN THE STREET

I know a fairly successful day trader that would say this is just to easy to short and he has proven this to me before. We are going down, but this will not be in a straight line and i doubt today it will be unless we gap massively. Like AJS pointed out the last time we gaped down we rallied the rest of the day.

 

Tip - smaller positions until the floor boards completely crack.

 

enjoy