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Dow attempted to push higher and lower yesterday but supported at 28768 and capped at the recent and all time high. The deal signing today may provide a spur. Not much on the calendar other than the continued bank earnings and US PPI. Dax and Fstse waiting on S&P and Dow to move.

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21 minutes ago, dmedin said:

The U.S. indices are all testing support this morning 😎

as is often the case in an uptrend, an early check of support before an attempt to drive higher. The opposite is also often seen in a downtrend, a check of resistance before an attempt to continue lower.

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2 minutes ago, dmedin said:

What if the t*rd's 'amazing deal' is a great big nothingburger?   I don't really have the stomach for Trump-watching.  😵

the risk was that the Chinese would play the same game as last time when the presented a rewritten deal at the last minute reckoning the US would sign rather than have nothing but they didn't sign. still a lack of details this time round though.

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Time and price on Dow and Sp 500 begining to tie up to forming a top , with top of channel (long term ) keeping a lid on these indx z,  Nb Dax FTSE  , not interested.....Also Oil (falling) and bonds ( rising ) tells you 2 things......The US and world economies are very slack.....Once they ve signed this deal.....Stocks will get dumped....😱

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16 minutes ago, cheviot said:

 

Time and price on Dow and Sp 500 begining to tie up to forming a top , with top of channel (long term ) keeping a lid on these indx z,  Nb Dax FTSE  , not interested.....Also Oil (falling) and bonds ( rising ) tells you 2 things......The US and world economies are very slack.....Once they ve signed this deal.....Stocks will get dumped....😱

FTSE 100 shallow 38% correction? 🤔

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7 minutes ago, dmedin said:

Dax is holding strong at 23.6%, implying there's a nice wave up to come :)

If and only If it can hold the first wave up to 13250, It looks more like a bear flag to me...But it may just be a series of ABC X corrections....It needs to break the tops line now formed to confirm that indeed its going to push higher....If it fails...Then down we go,.....

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9 minutes ago, cheviot said:

Feels like a nice day for a key day reversal on the Dow ....If I was a bull I d be pretty disappointed with the way the markets trading...Up yes...but no volume and no follow through...Its more than in the price....😕

Lol there are 2.5 hours approx left ... don't call it a day yet

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13 minutes ago, cheviot said:

Key day...Is a technical reversal....New high.....with a daily close below the previous days low....For the Dow its 28782.....

Friday was a high probability sell with the retracement back up to 29,000. Hoping for a close below 28782 today is not.

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"Our call of the day from the founder and chief executive of Ciovacco Capital Management"

He said the bigger picture for stocks is now coming together. “A sound argument can be made that the stock market made a cyclical low in 2018 within the context of a secular trend,” Ciovacco said. He was alluding to that big equity drop in December 2018, while a secular trend refers to a rising or falling market trend. It can last from five to 25 years, peppered by smaller bear or bull markets, respectively.

https://www.marketwatch.com/story/years-of-stock-gains-are-ahead-but-also-scary-pullbacks-says-strategist-2020-01-16

 

 

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