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10 minutes ago, Kodiak said:

Short term trend down

Ride it down then take advantage of the bargains at the bottom ūü•≥

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Dow looking to have another go at R2 after R1 failed as support.

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Dow looking to retake R1 after finding support and bouncing up off R2.

M5 charts;

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U.S.A. sellers buying the dips so far ūü•≥

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Dow revisit to R2 then back up to R1 on the US open.

Another comparison chart of the SARS impact, this time on China retail trade and indy prod, short lived dip.

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Dow and S&P have reversed yesterday's losses overnight, 3 daily red candles in a row though wow, haven't seen that since Feb, May, July, Aug, Oct. Amazing.

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As Chris B said yesterday, even if DJIA falls another thousand odd points it's still in an uptrend.  Looking to buy bargains at the bottom.

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After an initial push down on the London open not much happening with Dow just below the daily pivot and Dax midway between the pivot and S1.

M5 charts;

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Nice bullish reversal candle on the Dow and S&P yesterday and a strong start already this morning. 

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Dax and Dow starting the London session between the daily pivot and R1 having tested R1 earlier. Doesn't look like a test of support to start rather a retest of resistance.

M5 charts;

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

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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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2/3rds correction, back up and closed the window.¬† Interesting to see which direction of the window price closes on today.¬† ūüí°

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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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Dax and Dow rather directionless between the pivot and R1.

M5 charts;

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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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What grit though, being wrong continuously since 2010 and never giving up. Of course a hair stylist is out of the question as he's done his **** shorting this market all the way up bless him¬†ūüėß

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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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Doctor Doctor !!  I m feeling slightly friendly to FTSE 100 at 7400 , there s something wrong with me ...

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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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Top of the Boris election bounce . Think FTSE well supported around 74001804312017_FTSE100_20200130_08_34.png.3a738b14137fc193b8f9c2e19fb4e08c.png

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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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S&P 500 closed the window (filled the gap) but then stopped and resumed downward move.  So... bearishness confirmed.

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