Black Monday

[Hoop]

http://chartgame.com

Give yourselves 10/10

Too easy..Didn't use any indicators just used my eyes and visualised the approximate trend lines and S&R lines...it was fun though

[bull....]

Chinese market soaring up 4% at one stage.
Yanks back from their last long weekend of the summer.
Could be an up night. Another 150 points or so from here in the DOW & it starts breaking out of a flag formation... or not.
Could be a good level to get short.

nice bounce of the support, I have a symmetrical triangle in play and we sit right at the top at the time of writing - if it breaks to upside the bull may be still alive an kicking.
poor people who panicked or who are in cash may have missed the buy of the year - time will tell even asx looked like a bottom yesterday?

[trader_jackson]

Expecting NZX 50 to have a massive (well by new Zealand standards: over 1%) gain today... driven by yield stocks. With the prospect of interest rates being cut tomorrow 9am, I am really surprised MRP isn't $3+, GNE $2+, Heartland $1.20+ etc

[couta1]

Expecting NZX 50 to have a massive (well by new Zealand standards: over 1%) gain today... driven by yield stocks. With the prospect of interest rates being cut tomorrow 9am, I am really surprised MRP isn't $3+, GNE $2+, Heartland $1.20+ etc

Now there's a post that would make old Moosie proud.

[nextbigthing]

Expecting NZX 50 to have a massive (well by new Zealand standards: over 1%) gain today... driven by yield stocks. With the prospect of interest rates being cut tomorrow 9am, I am really surprised MRP isn't $3+, GNE $2+, Heartland $1.20+ etc

Feel free to bid them up to those levels. Thanks.

[Daytr]

I think what we have seen is what I mentioned. A ra ra rally, post G20 & holidays in the US & China.
Most indices I look at and some commodities like gold & crude have formed flag formations or up against reasonably key resistance levels.
I don't think I have ever seen markets so aligned from a TA perspective.
Has anything changed? Not really & probably good areas to short after a healthy clear out.
Oil could be one to watch as the footing for war against Syria has stepped up a notch, although I don't think we see ground troops, but the increase perhaps in airstrikes. It does increase the risk for supply disruption.

[Bjauck]

Decades ago, the hog put up a notice on a university notice-board, in a country far, far away:

"Native English speaker available for help with writing, conversation, spelling, grammer, etc. Call…"

When the hog returned, somebody had been good enough to correct the hog's notice

On TV One news the other day, the presenter (Dallow?) introduced a teaser on the Chinese stock market, after the teasers about the latest house fire and Gareth Morgan idea. I thought that was positive, maybe TV One was not completely tabloid-like. However he finished the teaser by saying that the reporter would be "all across" that story later in the bulletin. I wondered when did TV One become " so street". Maybe they will start to present the business in a rap next time. I remembered why I now got my news from different sources.

[Major von Tempsky]

So, could we have an apology from all the stupid lemmings who have recently predicted another Great Crash.....

[couta1]

So, could we have an apology from all the stupid lemmings who have recently predicted another Great Crash.....

Youll be lucky, they have probably loaded up now after concerted efforts to scare the shepple.

[Hoop]

nice bounce of the support, I have a symmetrical triangle in play and we sit right at the top at the time of writing - if it breaks to upside the bull may be still alive an kicking.
poor people who panicked or who are in cash may have missed the buy of the year - time will tell even asx looked like a bottom yesterday?

It would very wise to not get too carried away with the next rally (NZX50 hasn't got a rally yet)..be aware that if an NZX50 rally occurs there's a good chance it may not last long as we tend to be aligned with Global Markets...especially Wall St

At this moment Wall St is experiencing a still forming dead cat bounce pattern after its initial event (the steep fall).

The DCB event pattern is in play and a secondary event pattern the symmetrical triangle as Bull has observed has formed within the forming DCB event...Patterns within pattern are common and any secondary inside pattern breakouts are dictated by the primary pattern...As a forming DCB is a bearish event an upside breakouts from the inside symmetrical triangle (54% of the time) would more than likely be very short term and limited to the constraints set by the still forming DCB event...which looks to be at the 61.8% Fib resistance area (16700 DOW), but the DC bounce high point can on average take 23 days (Bulkowski) and we haven't had 23 days yet..
If the forming DCB progresses past the stage which sees the bounce established then its a 75% chance the fall will surpass the Beginning event bottom (<15700)

See my update on the DOW thread