Japan down 1,100 points , ASX down 2% , Russia down 3% ,Hongkong down 2.6%chinese PMI below 50( contracting economy) DOW futures minus re 134. Looking very messy ahead.
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Japan down 1,100 points , ASX down 2% , Russia down 3% ,Hongkong down 2.6%chinese PMI below 50( contracting economy) DOW futures minus re 134. Looking very messy ahead.
Yes , "buying on the dips" DOW -13 atm Gold up to $1391
http://www.reuters.com/article/2013/...9770GZ20130819
Wall Street falls for fourth straight session as Fed eyed
since that post on 23rd May 2013...the DOW fell back then made a marginally new high.
The DOW now looks destined to test the MA200 area again as bull market corrections do...The chart still shows the DOW in a Cyclic Bull market Cycle
http://i458.photobucket.com/albums/q...OW21082013.png
Hindenburg Omen??
http://finance.yahoo.com/blogs/break...163004190.html
Ari ...Hindenburg Omen is a "cry wolf " indicator....Yes it has correctly shown the past crashes but is irregularly too sensitive to be an useful reliable indicator... as it picks up some (but not all) Bull market corrections and the occassional bearish blip as well..
The media are confident that the economies are on the mend and the Equity markets look set for another rally into the "blue sky" area. Even the very bearish Shiller has become bullish lately...
So its all good times again..eh? ..Well it pays to be cautious and have quick exits atm just in case a Head and Shoulder pattern forms.
H&S is a bearish pattern with a good success rate.
http://i458.photobucket.com/albums/q...OW12092013.png
The Dow managed to push through to a new high (just!!) to prevent a bearish H&S chart pattern ..but in realty... has this slight higher high stopped the bearish nature that a H&S pattern would've indicated????.....What would've been a neck line break today...has been swapped to a Quasi neck line break....It tells the same story....
The MA200 is now an important line ....if it holds we may see another volatile (higher VIX) swing reversing the DOW back up to a new high..If the MA200 breaks then we can treat the target calculation as a quasi H&S pattern
Target 14850 - (15677 - 14850) = 14023
http://i458.photobucket.com/albums/q...OW08102013.png
You can call it a trendline if you like...technically thats all it is...As I don't hold much faith in trendlines only..I do add some extra weight to these "nearly" patterns...especially in less liquid stocks where you could get a "smart-ass" to buy in at a higher price to try and butcher the formation of the H&S formation by creating a "RHS shoulder" above the head ...the resulting breaking trendline is still bearishly valid with odds I expect to be similar to that of a S&H pattern neck.
break.,,,,this is the quasi piece I mention...re: dirty tricks in day trading
Moosie its charts and you can ignore them in your analysis...its a free world to use any investment strategy system you like....
Charts are only a visual record of past events Belg..what ever happens all will make sense on a chart because that's what happened...Patterns and trends shows ongoing trading behaviour and whether that trading behaviour makes sense is questionable...eh? :D
I've copied the chart of the day from the Daily S&P500 Index tracker thread post #1449 3rd Oct 2013
http://www.sharetrader.co.nz/showthr...TRACKER/page97
DOW showing some negative divergences ...could be a bearish triple top in the making
http://i458.photobucket.com/albums/q...OW31102013.png
Dow may break even 16,000 during next six months. Still we may see bull markets in some sectors, commodities and some markets in 2014. In some point there may be correction in DOW. As I said before we may have opportunities in developed, emerging and frontier markets. We have to do home work to identify future bullish markets, sectors, commodities and currencies before others.
My ideas are not a recommendation to either buy or sell any security, commodity or currency. Please do your own research prior to making any investment decisions.
For the time being.....There's a good chance The DOW will break 16000 shortly. The latest record created a trading channel (rectangle pattern) breakout....Today's intraday drop, believe it or not, is bullish as the DOW has today successfully defended its new suppport (15708)...
Target price of the rectangle breakout is 15700 + (15700 - 14800) = 16600
See Colin Twiggs Article here
There is a risk attached to the success of this breakout...still waiting for confirmation with S&P500
EDIT...the S&P500 confirmed the next day (14th November.. NZ time)
http://i458.photobucket.com/albums/q...OW12112013.png
Thanks Hoop; I,m always waiting for your next post with baited breath :)
Dow may break 16,000 again.
My ideas are not a recommendation to eitherbuy or sell any security, commodity or currency. Please do your own researchprior to making any investment decisions.
DOW may break 16500 and S&P may touch 1850 sooner that later.
If markets develop into bubble scenario we may have another financial crisis worst than 2007. As you can guess, a “melt-up” could lead to a “melt-down,” as happened in the past. There may be some volatility in 2014 still global stocks will give higher return for those who did home work. Asian and European stocks did not perform well when compare with U.S. stocks in 2013, with the notable exception of Japan. It is time to identify next winning markets, sectors, stocks, commodities, currencies and other assets globally. We may have correction in S&P 500 in 2014. Long term players may have another opportunity in 2014 and 2015. Bull will continue in undervalued global stocks markets in 2014. Remember intelligent investors will identify opportunities in all types of markets such as developed, emerging and frontier markets. They outperformed others in all types of markets in 2013. They will do it in 2014 as well. In the currency market USD will outperform other currencies such as NZD and AUD in 2014 and 2015. More than USA stocks USD dollar is damp cheap now. In commodity market Gold, corn and soya bean will go down further in 2014.
The big debate among some market players is whether international markets will have bull market in 2014.
My ideas are not a recommendation to either buy or sell any security, commodity or currency. Please do your own research prior to making any investment decisions.