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Finding it hard to justify current Dow levels. Any thoughts?

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6 minutes ago, razz said:

Finding it hard to justify current Dow levels. Any thoughts?

justifications don't come into it, it's purely a reflection of sentiment for the near future according to peeps with a lot more money than us spent on research giving results we will never see, that's not to say they're always right, they just usually are 🙂

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36 minutes ago, razz said:

Finding it hard to justify current Dow levels. Any thoughts?

Here is an old quote. “Markets can stay irrational longer than you can stay solvent.”  - John Maynard Keynes... and one of my all time heroes of economics. 

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S&P looking at the Daily chart resistance 3156 (orange).

image.thumb.png.b5b2e87baf95bdc1ae396087a72d6275.png

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Nasdaq @ 10,600 imminently, Peregrin Took 🐮

NASDAQ-Daily.thumb.png.9c0a6e05fc1dfe9a2db6decdd0f03c38.png

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1 hour ago, dmedin said:

BUY, Eileen 🐮

Well, strictly speaking, only when that 5 day SMA is above the 20 :D 

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Only 52% of IG clients are short on DJIA 🙄

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FTSEand S&P daily.

Dax and Dow H1. Didn't notice that big slump in the Dow yesterday 15:00, was that connected to the Trump presser? Strange it didn't affect Dax.

image.thumb.png.c70b5fc5ff8aa022c6a30be2b444305d.png

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Looking for support, will the blue intraday fibs hold?

image.thumb.png.cd5d72613e9a3e58b282a1d3ee9059a7.png

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Is it going to be a quiet/down day because of the U.S. holiday :(

 

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😕

Quote

Expectations were quite low for this session with the U.S. closed for Independence Day and so far, rightly so.

Tepid, lukewarm, half-hearted? There are many ways to describe the open 30 minutes after which the STOXX 600 was up about 0.1%.

The upbeat mood in Asia hasn't spread in Europe to say the least.

 

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:(

Quote

While Wall Street and Europe seem to be losing some steam, the S&P did manage to end this four day week with a 4% rise, the fourth best weekly performance in a year.

And yet investors are selling into this rally. Data from BofA this morning shows that money is being quickly pulled for equity funds: $1.3 billion from Europe and a second consecutive week of U.S. outflows (-$4.8 bln).

As you can see from their chart the picture for institutional investors doesn't chime with the upbeat sentiment of retail investors on Wall Street.

It actually rather echoes the reports of "smart money" scratching its head and waiting on the sidelines for markets to come down back in line with fundamentals.

 

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28 minutes ago, dmedin said:

Oh Eileen :(

1593783408_442894131.thumb.png.48de89cedd0bebfa9f54e718c05e1bab.png

I don’t follow the COT, but I saw a backtest which suggested that analyzing the Dealers had the most consistency.

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What an all-round, horrible, depressing day today has been.

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6 minutes ago, dmedin said:

What an all-round, horrible, depressing day today has been.

don't worry, the days have started shortening, winter will soon be here.

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FTSE 100

Capture ukx.PNG

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S&P pushes up past near term resistance.

Dax and Dow rest up just above the daily R1.

FTSE and S&P daily charts.

Dax and Dow H1.

image.thumb.png.c9ef3e12e223c51fb61e46a369a4eb10.png

image.thumb.png.62f25e31f136c2ae9ffb3daa86ad57c5.png

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Dax and Dow heading back up after a check of support;

H1 charts;

image.thumb.png.26645bf041299e941e264f79587bfbe6.png

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S&P has 3233, the weekly chart resistance (red) and the monthly chart R1, in sight.

FTSE and S&P daily charts.

Dax and Dow H1 charts;

image.thumb.png.16045970375641a50e0d65b691836c93.png

image.thumb.png.b4c6be76057f7d5b7ea2ad02c1c550c2.png

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Indices just took a huge dump, smells real bad.

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The Nikkei is bouncing up and down between pivots like a pair of lovely-jubblies on a jogger!

1460249230_Japan225_20200707_11_42.thumb.png.c3c7ed62eebc5ea0d97949605b9add04.png

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Looks like we're got months of more-or-less sideways price action to look forward to, boys and girls.  Lots of false breakouts and money to be lost :) 

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