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fair go, the failure to break through the blue rectangle was crucial for further downside. Now looking for resistance (sellers to step back in) and the most likely area is just before the red 29400 de

That is the 50% retrace for  the Dow and S&P. 

Interesting S&P daily shaping up¬†ūüĎá

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2 minutes ago, dmedin said:

Apple earnings beat.   Another case of 'too good to be true' turning out to be true after all.

was reading this morning that Apple is now worth more than all the companies on the Dax 30 put together¬†ūüė≥

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Yes, I've often wondered about this too. On Zerohedge of course;

Tiho Brkan @TihoBrkan 4h  I swear I've seen this "expert" predict Dow Jones 5,000 eleven times during the last 11 years of the bull market. Why is it not working?

 

https://www.zerohedge.com/markets/its-time-sell-charles-nenner-warns-market-will-go-down-40

 

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I think Dow going sideways is more likely for the time being than a big "40%" drop. That is too far of a drop since we still have to visit Dow 30000 later this year.

On a side note, IG Client Sentiment is not being updated regularly. I wonder if IG or some other entity are positioning themselves first for shorter term trades.

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15 minutes ago, HPbrand said:

I think Dow going sideways is more likely for the time being than a big "40%" drop. That is too far of a drop since we still have to visit Dow 30000 later this year.

but a man can dream can't he, though by the look of the state of him, after 10 years it's probably time to move on¬†ūüė≠

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12 minutes ago, Caseynotes said:

but a man can dream can't he, though by the look of the state of him, after 10 years it's probably time to move on¬†ūüė≠

Very true! If he has the time to figure out the markets, he should spend some time to visit a hair stylist and buy crease free shirt. By the sounds of him, he should be at least a multi millionaire.

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Indices are going nowhere in a hurry.  Trading sideways.  Hanging suspended in mid air.  If markets are due for a correction they drop hard and fast.  They don't pause and wait like this.  But who in their right mind would go long right now?

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In fairness to Charles Nenner, presumably he is writing books (hence a renowned analyst) rather than trading, and the content of those books are probably exactly what the people reading them want to hear.  So he's actually performing the world a service in that sense.

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1 hour ago, Caseynotes said:

Markets not impressed with the Fed and virus fears heighten as China sees a big uptick in daily reported cases and Fed also warn of risks to economy in their FOMC report.  

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https://www.seeitmarket.com/coronavirus-historical-stock-market-performance-with-pandemics/

Do nt forget though....In 2003 the markets had nt been so o/bought and also in 2003 was the Iraq war.....so it s not clear evidence.   

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Not sure of direction this morning, price dropped below the pivot and continued down through S1 & S2 on both Dow and Dax which suggests a down day but so far both look to have found support on the London open, not sure it will last but looking at the daily charts and around these levels looks a good being the daily charts (post above) support level (orange) for dax, dow, ftse and S&P.

M15 charts;

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