35854 replies to this topic

[delta66]

not pushing for a trade today unless high conviction rate - over-trading is a fault of mine

[delta66]

aus200(cash) thumped -1.5%

Hong Kong/China cash flying high

 

..where does that put us?  idk!

[delta66]

This must be Rome...

welcome to the arena ;- >

[delta66]

stopped out 46830

 

nice call Argento on that 46600 not quite(maybe later on) but close enough.  should of taken my lead on the hourly reading - signals failed miserably on lower resolutions today

[Vertebrae]

50 trail stop engaged

 

That was fun (not)

Chow yakitori

[Vertebrae]

50 trail stop engaged

[OceanWalz]

Thanks A for that good UBS article snippet - unfortunately I have no access to reviews by them - that would make SP500 1830/70 which I get from other heads too!  but reality does not go in a strait  line to any target if it gets to target at all! so massive meditation on patience it is going to require!

[Sun Tzu]

This must be Rome...

[Argento]

UBS:

 

From a cyclical aspect we have been expecting the US market to move into an important early summer cycle high as the basis of a relatively short but sharp correction process into a later Q3/early Q4 bottom. As we have been saying over the last few weeks, even if we were to see another short-term positive surprise in the SPX (hitting a marginal new high into August), we are sticking to the high conviction call of our 2015 strategy and continue to see the risk of a 15% correction, which from an Elliott Wave perspective should correct the 2011 bull cycle (wave 4 of a large degree) before resuming the underlying bull market into H1 2016. In early June, the MSCI World completed a double-top, implying that globally our expected summer top is already in place! With rising cross asset volatility, weak market breadth, and increasing pressure on the macro side (too strong US dollar and bonds sitting on the edge), the air over the SPX is getting thin, and we continue to believe that particularly September into mid-October will be very weak for the US market.

[Vertebrae]

Re-engage 46850

[Argento]

Only reason I think 49 is because we continually return to knock on the 47 then back down to 45500 and we have been kind of stuck in that range for quite a while. 

 

But 39 sooner before later works for me. 

 

G 

US also stuck in a huge range and boy is it going to be a million dollar trade trading the break...but breadth is really weak and with that 7 year cycle in control doubt we are going to see it to the upside...but never set in stone with this lady!

 

A

[grantmu]

IMO...going to see 39000 first before we see 49000 again...once the institutional selling going to start watch down below!

 

For now still top building.....watch how 2014 repeats itself but in a bigger way!

 

A

Only reason I think 49 is because we continually return to knock on the 47 then back down to 45500 and we have been kind of stuck in that range for quite a while. 

 

But 39 sooner before later works for me. 

 

G 

[Argento]

Thanks for the attention A - closed my Shorts on seeing your logic - think it can dribble bit lower but then I got lions share of current 'drop' for today

 

now to see if this is target for longs, trying a tad lower , these are time also to expect sudden swings and could break the 46600 but I think lower probability so if Im going long around 46600 into tomorrow morn then it will be with very clear stop loss!

Cool and thanks MP!

 

Interesting to note...with uplegs that originates from IHS (like this one) she tends to form an island top...possible we see that into the 18th/19th from here until Yellen speaks again and the bigger whack down kicks off!

 

A

[OceanWalz]

Thanks for the attention A - closed my Shorts on seeing your logic - think it can dribble bit lower but then I got lions share of current 'drop' for today

 

now to see if this is target for longs, trying a tad lower , these are time also to expect sudden swings and could break the 46600 but I think lower probability so if Im going long around 46600 into tomorrow morn then it will be with very clear stop loss!

[Motion Picture]

Good level to close those shorts...through the 60min lower bb!

 

A

 

Another excellent call A. Good work!

[Argento]

Target hit and good level to open shorts!Might squeeze a little bit higher but the weekly middle bb should hold her!

 

A

Good level to close those shorts...through the 60min lower bb!

 

A

[denrandgroup]

Current support 50sma(1hr) looking firm.Am lookin for a deeper dip to go long 62ema(1hr).

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Gone long @ 62ema(1hr) 46858 Cash.Tight stop loss

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Stopped out

Sent from my GT-I9300 using Sharenet Sharechat mobile app

[Plasma]

Seems my ladder binaries for close above 47 150 are going to see their backsides ....

[Argento]

Looking back over the last year and a bit we have been traveling sideways, 6 months ago we were in a channel of about 2000 points till Feb this year with the break to the upside, now we are again in a channel that is even smaller, we have tested the 47 level 5 times in that time period and each time the market retreated, at some point I think there will be a last effort to break that level and retest 49, after that I think the drop will be more of a reality. 

 

Although Greece is in the rear view mirror for now I still see a bit of nervousness and see that remaining until an actual deal is concluded.

 

The interesting part is going to be if the FED add a .5 percentage point and what that would do to the markets, I see down but as this has not happened ever before I could be wrong. 

 

Also I have no idea what china is doing but i see that also as a problem towards the end of the year. 

 

I think the world is headed for recession at the moment, so this and all the other stuff make me look to the down side for the foreseeable future. So I see much more up and down till the end of the year. My short trading has improved big time so at leased I get that out of all this volatility. 

 

JMO

 

G 

IMO...going to see 39000 first before we see 49000 again...once the institutional selling going to start watch down below!

 

For now still top building.....watch how 2014 repeats itself but in a bigger way!

 

A

[Vertebrae]

Covering 46850