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Re: 9/11 Conspiracy Theories [message #48239] Sun, 24 January 2010 22:21 Go to previous messageGo to next message
farouk  South Africa
Messages: 958
Registered: August 2009
Senior Member
My EW Count
index.php/fa/2224/0/
Note this is my views and i could be wrong.
What i see on the charts is the start of a cycle from 2002.
A 5 wave up takes it to its October 2007 highs.
Thereafter we have 3 phases of an A,B,C----correction.
Phase 1 was A completed by the March 2009 lows.
Phase 2 was B completed last week by the highs of January 2010 highs.
Phase 3 is C and has just begun.
Wave c consist of 5 waves which will complete this cycle.
Looking at EWI and my counts one thing is common and that is
we are going to head down.
I had a chat with few local Technical Analysis fundis and
their opinion is we are in a minor correction of 15 to 20
percent.My opinion is obviously different but i will look at charts on a weekly basis to see where the markets will eventually
go.
Happy trading
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Re: 9/11 Conspiracy Theories [message #48240] Mon, 25 January 2010 07:43 Go to previous messageGo to next message
tank  South Africa
Messages: 2005
Registered: September 2007
Location: Richards Bay
Senior Member
So I take it you have shorted a few markets since friday Rolling Eyes Thanks for all the charts farouk!!
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Re: 9/11 Conspiracy Theories [message #48244] Mon, 25 January 2010 09:15 Go to previous messageGo to next message
farouk  South Africa
Messages: 958
Registered: August 2009
Senior Member
Hi All
The biggest short in the market are your penny stocks.
You have a very big variety to chose from.Take your pick.
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Re: 9/11 Conspiracy Theories [message #48367] Wed, 27 January 2010 14:47 Go to previous messageGo to next message
farouk  South Africa
Messages: 958
Registered: August 2009
Senior Member
Chart of Gold Index
index.php/fa/2242/0/
Which direction up or down.At present its will be guessing.
Line 1 is your major resistance at $1226.52.
Line 2 is your support at +-$1070.
Line 3 is major support at +-$1024.
Any breach of line will send her to $1400 to $1500.
Any breach of line 3 will send her down to $900 to $700.
What i see in the charts is her forming a base and a breakout will eventually come.
My hunch is a major breakout on the upside.But one needs to have patience and only trade once the breakout is confirmed.
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Re: 9/11 Conspiracy Theories [message #48371] Wed, 27 January 2010 15:31 Go to previous messageGo to next message
farouk  South Africa
Messages: 958
Registered: August 2009
Senior Member
Chart of S&P
index.php/fa/2243/0/
index.php/fa/2244/0/
Both charts are the same.Lets take a lesson from these charts.
The top 2 lines shows consolidation before a breach on the downside.The bottom 3rd line shows support.Because these candles are full its shows that these support will not hold.The stoch at the bottom is confirming that there is more downside to come.
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Re: 9/11 Conspiracy Theories [message #48410] Thu, 28 January 2010 15:06 Go to previous messageGo to next message
farouk  South Africa
Messages: 958
Registered: August 2009
Senior Member
Hi All
Quick update on S&P Chart
index.php/fa/2251/0/
The index has reached support and the awaited bounce is coming tonight.How high will it go.
38.2% retracement +- 1105
50% retracement +- 1115
Note one needs to work this out to get 100% answer,
If this bounce is not strong then market will continue to the downside.Becareful of longs because its against the trend.
sorry one more point stoch is turning which confirms a bounce.
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Re: 9/11 Conspiracy Theories [message #48542] Sat, 30 January 2010 20:33 Go to previous messageGo to next message
farouk  South Africa
Messages: 958
Registered: August 2009
Senior Member
Update on the Shanghai Index
index.php/fa/2265/0/
An updated chart from last week.The index has reached support at its 200dma.A bounce is expected to unwind the oscillators before more downside.My opinion the bounce should find resistance at its 50dma or its breakout line that was breached.
Something important i forgot to mention last week is the breakout it made from its triangle measures all the way down to a minimum target of 2400.Note that this is where it found resistance in February 2009 and will act as support.

[Updated on: Sat, 30 January 2010 20:34]

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Re: 9/11 Conspiracy Theories [message #48543] Sat, 30 January 2010 20:58 Go to previous messageGo to next message
farouk  South Africa
Messages: 958
Registered: August 2009
Senior Member
Chart of FTSE Index
index.php/fa/2266/0/
She is looking strong in comparison to other charts.I recon when the real fear creeps into this market then she is going to play catch up and fall big time.This will ultimately affect our market.At present she is oversold in her oscillators and a bounce is expected to her 50dma.The red lines on the chart are her support levels.
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Re: 9/11 Conspiracy Theories [message #48544] Sat, 30 January 2010 21:15 Go to previous messageGo to next message
farouk  South Africa
Messages: 958
Registered: August 2009
Senior Member
Chart of S&P
index.php/fa/2267/0/
Note this is a 15 min chart.The stoch has made a turn to the upside(bullish).Now that does not mean it cannot turn down again.
The MACD is about to confirm a divergence.The MACD has to turn upwards to confirm a divergence and this will make her bullish.
Take a lesson What is divergence?Look at the chart.Price is making a lower low and MACD is doing the opposite making higher high.When ever this occurs then its a bullish sign.
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Re: 9/11 Conspiracy Theories [message #48545] Sat, 30 January 2010 22:11 Go to previous messageGo to next message
farouk  South Africa
Messages: 958
Registered: August 2009
Senior Member
Chart of S&P
index.php/fa/2268/0/
This is a 60min chart.Take note of the divergence again.Price made a lower low and MACD is making a higher high.
If you are a futures trader then keep an eye on the stoch.
A breach of the 20 line and you have a long signal.
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Re: 9/11 Conspiracy Theories [message #48546] Sat, 30 January 2010 23:10 Go to previous messageGo to next message
farouk  South Africa
Messages: 958
Registered: August 2009
Senior Member
Chart of USD Index
index.php/fa/2269/0/
This is a very important chart to follow if one is looking for an end to this correction.Line 1 is your major resistance line which in my opinion will not be reached and i could be wrong.
Line 2 is your uptrend support line.If line 2 together with your 50dma is breached then one can expect an end to the correction.At present we are far from that happening.
Note the market works in direct correlation with this chart.If this index cantinues rising then the market will continue falling.At present this is exactly whats happening.
The US is in such a mess that the Govt(Fed) has only one tool left in its arsenal in stopping the market from falling.I am of the opinion that it will eventually be forced to use this tool.
That tool is non other than the devaluation of the dollar.When China asked the US for guarantees, in regards its bond purchases(debts),it was actually refering to devaluation of the dollar.If the US devalues its currency then it means the purchasing power of the dollar will drop and therefore those countries (like China) whose surplus reserves are in dollars will lose out.Note if they devalue the dollar then expect wealthy nations to go back to the days of Gold reserves.I recon Gold will spike.
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Re: 9/11 Conspiracy Theories [message #48547] Sat, 30 January 2010 23:24 Go to previous messageGo to next message
farouk  South Africa
Messages: 958
Registered: August 2009
Senior Member
Chart of All Share Index
index.php/fa/2270/0/
1 st support at 26070.
2 nd support at 25370.
Major support is the 200dma.
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Re: 9/11 Conspiracy Theories [message #48567] Sun, 31 January 2010 15:31 Go to previous messageGo to next message
farouk  South Africa
Messages: 958
Registered: August 2009
Senior Member
Chart of All Share Index
Monthly
index.php/fa/2279/0/
Its early stages for any confirmation on a reversal on the monthly chart but one can see the stoch about to cross and also overbought.The MACD is doing nothing at present and by next month we should see more bearish signs on this chart.
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Re: 9/11 Conspiracy Theories [message #48570] Sun, 31 January 2010 15:39 Go to previous messageGo to next message
farouk  South Africa
Messages: 958
Registered: August 2009
Senior Member
Chart of All Share Index
Weekly
index.php/fa/2280/0/
This weekly is confirming the bearish signs.The MACD has a confirmed turn.The stoch has already turned from an overbought position and confirms the downside.
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Re: 9/11 Conspiracy Theories [message #48571] Sun, 31 January 2010 15:52 Go to previous messageGo to next message
farouk  South Africa
Messages: 958
Registered: August 2009
Senior Member
Chart of All Share Index
Daily
index.php/fa/2281/0/
The MACD is confirming the downside.The stoch has already reached the oversold level from an overbought position.There is a turn on the stoch which confirms of a suckers bounce on the horizon.
The big picture from weekly chart is very clear we are in a confirmed downtrend.The daily chart confirms a bounce before a fast ,furious and shocking slide to come.Those that are taking long positions note this bounce will just suck you in and create confusion in your minds so far as the correction is concerned.
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Re: 9/11 Conspiracy Theories [message #48815] Thu, 04 February 2010 10:10 Go to previous messageGo to next message
farouk  South Africa
Messages: 958
Registered: August 2009
Senior Member
Hi
Chart of S&P
index.php/fa/2321/0/
Line 1 major support @1071.
Line 2 is major resistance @1114 to 1120.
Line 3 is @ 1130 resistance.A breach here will suggest that this minor correction is over.
My opinion more downside from the 1114 to 1120 level.A breach @1071 will send the index plunging.
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Re: 9/11 Conspiracy Theories [message #48858] Thu, 04 February 2010 17:09 Go to previous messageGo to next message
farouk  South Africa
Messages: 958
Registered: August 2009
Senior Member

Looks as though wave 3 plunger is here.S&P has to go below 1071 to confirm.Its looking very possible.
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Re: 9/11 Conspiracy Theories [message #48875] Fri, 05 February 2010 06:50 Go to previous messageGo to next message
farouk  South Africa
Messages: 958
Registered: August 2009
Senior Member

Our markets will be heading for a train smash this morning.
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Re: 9/11 Conspiracy Theories [message #48925] Fri, 05 February 2010 13:16 Go to previous messageGo to next message
Kasimir  South Africa
Messages: 233
Registered: June 2007
Senior Member
The Toyota debacle seems neatly fixed.

Just as the US automakers are with backs to the wall ..... should we expect Hyundai and others to also suddenly have problems
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Re: 9/11 Conspiracy Theories [message #48935] Fri, 05 February 2010 15:42 Go to previous messageGo to previous message
joshua
Messages: 668
Registered: June 2009
Location: By the SEA
Senior Member
farouk wrote on Fri, 05 February 2010 06:50

Our markets will be heading for a train smash this morning.


We are in 'choppy'waters, hang on tight the Tsunami of March 2009 is on its way! Rolling Eyes
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