DOW

remo wrote:

Look at the clear head and shoulders pattern forming....
One to keep an eye on...

The head and shoulders formation has been cancelled as it’s broken above the shoulder and looking to test the highs again...
The trade was valid but it moved down real quickly and then bounced just as quick...It did not manage to finish below the critical level for a few days...Thats why it’s important for a confirmation to hold..





This is starting to look bullish again and if it takes out the recent high 24904 then it’s likely to move 2000 points higher and target the 78.2 fib level...So a target to 27000.....
So one to watch for new longs above the recent high

If 61.8 fib is taken out then there is a good chance that it will recover the full 100%..
Due to all the manipulation going on it seem bear markets can be stopped...lol...
The best part is, my moderna shares seems to be the cause for the recent rally in the markets...
The charts are looking bullish again so can only go by that..,
But this market is very risky as any bad news on the virus and the down trend will resume so got to be ready for that as well...
We are not out of the woods just yet....
I’m currently long but will change to shorts if I see any weakness below 24450...

dow - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...mCErZRWRdfC3KM158%3D

not perfectly a double top but close enough....
as they say "when you see a double top....you sell a double top"

dax - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...CukWmQ3okBH3J4b9k%3D

similar on the Dax...
certainly seems to be strong resistance above 24700.....on the Dow

atb, wdik, dyor,
trendfriend

fibs

Hi Inside Informant,

As was discuseed, this trade was likely to be on - for how long I don't know.

I did take a short nibble (very!) early doors @25,257.7 this morning, but I've actually reached the point of exhaustion of nipping in and out for a scalp here and there due to my mistrust of the markets.

It's getting silly where the overnight action (the fed? blackrock as their nominees? I don't know) is just becoming too much of a factor.

Consider the bank-holiday (sunday evening to tuesday am), the SPX Futures moved some 2% up in what? a 10% volume - with the markets closed (whatever happened to buy/sell, supply/demand, etc etc etc)

That simply vindicates my view of not holding anything no matter how tempting.

Another factor is that experts (including ours) are conflicted about what's happening - and if my betters are conflicted, what chance do i have.

So, I'm nipping in and out even less, sure, this means less fish n chips, but I get to keep my hard earned cash in my pocket for another day

Daily Battle lines:

https://ibb.co/mt3XH97

Dow Daily


The five minute shows the battle on the 61% fib line more closely:


https://ibb.co/wSF1jTD

Dow 5-min

Well, looking at the massive rally, I have played this terribly.

I’m not loosing any, but I’m not making anything either.

I’ve been sitting on my hands so long now, I don’t think they will work.