Indices

[Caseynotes]

Having checked support this morning Dow should be looking for a test of resistance next.

[Caseynotes]

Nope, went straight on for another test support, currently resting on the weekly S1.

H1 chart;

 

 

[dmedin]

A wee sell off had to arrive at some point, buy the dips bonnie loons 🐮

Edited December 30, 2019 by dmedin

[Caseynotes]

A dip down to check last weeks lows for Dow and S&P, will it be enough?

China PMI's overnight look stable at just above the 50 mark (slight expansion). Graph below shows how effective Trump's trade war has been in stifling China's exports to the US and why China must get a move on to resolve the dispute. Talk is that the hard work has been done, China officials have been invited to Washington for deal signing and that phase 2 is not expected to take so long as phase 1 to complete.

 

[Caseynotes]

Dax looking to push up off 13107 and try to clear overnight resistance 13137 then target the PP.

The next support level below 13107 is the daily pivot S1 at 13054.

H1 chart;

[Caseynotes]

Good chance gold is rising because it's being bought up as a hedge for the increase in positioning of institutional traders in US equities (see repeated chart below from a previous post above)

Also, people are talking about USD scarcity (in spite of printing) in the face of up coming emerging markets debt maturity which will need to be serviced in USD.  

[Caseynotes]

Tiho Brkan @TihoBrkan

4h

"I think this chart by @MacroOps is THE most simple yet most useful. These gurus who go on a “Recession Watch” every year are trying to randomly pick one of those black candles. Seriously? This is what you’re going to do with your money? And they charge for this “research”?"

[Caseynotes]

The bulls wait for the last hour of the last session before the end of year bank holiday to storm it.

Happy New Year!

[Caseynotes]

Dax and Dow continue to push up after the dip down on Mon and Tues. Ftse looking to follow back up to the monthly chart resistance (purple). Daily chart support levels in orange.

[Caseynotes]

Dax pausing at the weekly R1 and Dow within striking distance of it's all time high.

H1 charts;

[dmedin]

😎

I prematurely went short on the big indices pre-New Year,  but they aren't finished rising yet (so I went long again, and recouped). 

It will happen at some point though.  (A correction of 5 - 10% apparently.)  Would be nice to be able to catch the correction, AND then buy the dip at the bottom.  That's my goal.  I'm not at all greedy  

Edited January 2, 2020 by dmedin

[dmedin]

The end is nigh 😰😱

https://www.forexfactory.com/showthread.php?t=929914

[AndrewS]

1 hour ago, dmedin said:

The end is nigh 😰😱

https://www.forexfactory.com/showthread.php?t=929914

Thread started by someone who does not trade Indexes and as someone there noted "it shows".

Dow over-extended with respect to rolling 18 hr VWAP which is currently around last week’s high.

[AndrewS]

 

I am too much of a chicken to be a permachicken so I sold something else where the resistance was more clearly defined.

 

 

[dmedin]

Nice round of bloodletting last night.  If you were up late and on the ball you could have put in a cheeky wee short after that evening star appeared and made some money on the way back down.

 

[dmedin]

Zut alors, Samwise Gamgee? 😵

[Caseynotes]

Dow looking for support at 28636 giving up it's 300 point gain from yesterday after US assassination of Iranian military commander in Baghdad overnight. London open should be interesting, will traders decide to get out before the weekend and possible Iranian retaliation or decide to sit tight. 

[dmedin]

Go shorty!  Go shorty!👹

[Kodiak]

DOW Daily

[Caseynotes]

Both Dax and Dow trying to bottom out here after another push lower on the London open.

H1 charts;

[dmedin]

It's still sinking my bonnie loon 😨

[Caseynotes]

6 minutes ago, dmedin said:

It's still sinking my bonnie loon 😨

my signals started failing at 9:30, keep doing it til it stops working then stop, sit and wait for a new move 😐

[dmedin]

All quiet now.  Boring.

[Caseynotes]

Markets clearly not expecting WWIII is imminent or even the long awaited financial crash in spite of it being 'predicted' every year since 2016. Oh well, just have to keep playing the bull then, boring.

H1 charts;

[Caseynotes]

The first full trading week of the year can often give an insight as to the thoughts of the big players who are looking at the longer term, will the theme be continued accumulation or reverse to distribution? 

The Friday candle on the S&P chart is an interesting one, you might have thought a period of profit taking was due given the unfolding US/Iran drama, and especially on a Friday but after the breaking news and a big reversal down buyers stepped in yet again and bought price back up from the low around 3211 back up to Thursday's open at 3235. Again that is bull strength and confidence, can they keep it going? The direction the market takes tomorrow will be interesting.

S&P daily chart.

[dmedin]

This gapping lower open helps confirm the idea that the pullback has begun.  Nice little bull trap set over the New Year period by the media etc, and a perfect little 'incident' in the Middle East as precisely the right time - all just coincidence of course

 

 

Edited January 6, 2020 by dmedin

[HPbrand]

If the pullback has begun, then about 74% to 78% of traders (as of now) are finally on the correct side of the trade. 

 

[dmedin]

Oh well... heads you lose, tails you also lose, such is the nature of retail trading  

Edited January 6, 2020 by dmedin

[Yoo]

I am pleased to contact you hoping to know more about trading strategy of indices.

[Caseynotes]

Dow and Dax trying to hang onto their respective daily chart support levels (orange). Which way will the big players take this this week now they are all back at their desks could set the tone for the whole first quarter.

Daily charts with weekly pivots;