35854 replies to this topic

[davidp13]

I dont know much but keep this in mind:<br />1. Fed meeting<br />2. Our local meeting<br />3. HS forming on daily with neckline most likely in today and if it fails or works out well then...<br />4. 3 red days in a row globally will play on the emotions

[Argento]

Don't think we'll see 43300 in a hurry. If Fed taps are opened again, then yes, maybe. 

 

Relief rally probable today, and further South if Fed cranks back stimulus tomorrow.

 

K

Whenever the market hits you hard one can only learn out of it, the below quote comes to mind, very important and one I let slide... 

 

"Don't trust your own opinion and back your judgment until the action of the market itself confirms your opinion." ~ Jesse Livermore Trading Rule

 

Markets rarely makes important tops in January and with the TOP40 having the tendancy to put in highs in February that 43300 can come much quicker than one think, this bull (on its last breath) is still alive and my perfect scenario will be a low this week with a massive run and top into the 11th Feb (to finish off the top pattern)... and only then for the real downside action to begin into August!(4/7 year cycles low)

 

I am clinging on to my longs like a monkey to a banana..don't think the FED wil let this slide go on for much longer!Turn of the tide is near.....

 

A

Edited by Argento, 28 January 2014 - 09:27 AM.

[K~~]

J200 is right on 41000 though so we will need to retest that 41600 level ANDfail again at 41000 for that 39000 level to cum into play. Its not likely. Tapering will have no effect until prob June. Easy to get a one day reversal tomorrow and like I said today off to 43300 again

Don't think we'll see 43300 in a hurry. If Fed taps are opened again, then yes, maybe. 

 

Relief rally probable today, and further South if Fed cranks back stimulus tomorrow.

 

K

[AJS]

A small relief rally is due.

 

She may see 41300/350-ish again before resuming the road down south.

 

K

 

Yeah, my target for the bounce is 41300 - 41500-ish. (but more in the upper part of that range)

[K~~]

What the heck....US turning green????

A small relief rally is due.

 

She may see 41300/350-ish again before resuming the road down south.

 

K

[Lekkerry]

I don't think it unfair to revise my estimate by +-200 points to a 700 point drop, instead of the 900 points mentioned this AM (below). Thus, it would seem charts are starting to speak the truth again and can be traded. Hoping it will continue now (this implies that the downward-trend is almost over with a bottom at +- 40400/500 (J200)).

 

Alas, let's see.

 

Chubby, 41000 broke decisively though, makes one think 39000 is not far fetched if one follows your reasonings.

 

Hello Argento.

 

When you say you are cautious, you think that a drop of +- 900 points from current levels in the next day or three a tad too optimistic then? My gut-feel is "no", with your predicted fall of Feb being one much greater.

 

Ta.

[AJS]

S&P and DOW 30mins

Attached Files

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[fabes]

What the heck....US turning green????

 
Jip. Dow bounced off 15750 and S&P off 1775.  Many naked bottoms on the candles around those levels, buyers stepped in it seems.

Nasdaq turnaround is freaky!!!!

[cuzin]

Wow it is too. Incredible.

What the heck....US turning green????

[fabes]

What the heck....US turning green????

P, you should have expected that. Can't fall forever. If US holds in the green we might see a strong push up. But right now I'm waiting for confirmation. Am upset that I missed out on all this points. Almost 700 points.

[AJS]

What the heck....US turning green????

 

Jip. Dow bounced off 15750 and S&P off 1775.  Many naked bottoms on the candles around those levels, buyers stepped in it seems.

[Plasma]

What the heck....US turning green????

[fabes]

Seems like the US is crawling back up. Just hope it holds till close. Quite surprised by the Dow. Turning green... might be time to get back into Dow now. If this is the start of pullback it might rally harder then snp.<br /><br />S, what's your take?

[fabes]

Not a good start to the week. 200 points down. Traded emotion or common sense and not the market. Will wait and see tomorrow. Expected US to hold 412 today, but clearly was unfounded<br />

[Lamarje]

Just realised the movie "Stop-Loss" has got nothing to do with trading....

Lol....

[JBlack]

Just realised the movie "Stop-Loss" has got nothing to do with trading....

[JJBen]

Yip, and the RS will give you 61.8Fib retracement to ~1815 and then the fall to 1700. This will take the ALSI (Mar14) down to the 38500 level...

[Lamarje]

Bagged a few points today...I think being a bear is my true calling...lol

[AJS]

Right shoulder should start here possibly on your graph? time will tell

 

Maybe yes... 1775 held for now.

[OceanWalz]

Why S&P 1775 is so important... (Just my attempt at charting it).

Right shoulder should start here possibly on your graph? time will tell