Index Trading

[early birds]

if the market holds 5250/5300 support and spends more than 2 days trading above 5400 we will be expecting a move towards 5700 within 4-6 weeks with an outside chance of 6000 in 3 months.

Under this scenario we will be marking the rally from 4900 as a third wave which should extend to 5675/5700 (1.618 times wave ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¹Ãƒƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“2ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢). This level coincides with the height of channel target derived from the line break at 5100. Our 6000 target is the height of the 7 mth rectangular pattern added to the 5400/25 break level.

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or

if the market remains below 5400/5425 and trades under 5300 for more than 2 days we will be looking for a dip towards 4800. Under this scenario we will be assuming that the major ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“CÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ rally from 4700 to 5425 has completed its move after breaking down into three minor waves where © = (a) in both price and time.

Trading below 5250 should morph the last 7 days trading from a minor bullish zig-zag pattern into a bearish impulse structure and set up a move below the top of (a). Trading beneath (a) improve the odds for a test of the support line around 5100/50 and a break below that level would imply a 4800 height of pattern target.

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take your pick!!

 

 

[early birds]

i really thought asx200 could punch through 5400 this week. but market seems got another idea!

now 5300 is gone. better stay aside and watch what's happening ......

 

 

[nipper]

Totally schizophrenic, this market. Well, at least it's not making any sense to me. There are really polarised opinions and multiple triggers for negativity, and yet, and yet.

 

Sure, eb, there was a late selloff to sub 5300 (but it was only 20pts), but SPI futures are surging again.

[early birds]

yeah nipper

it is freaking crazier out there. look at DAX this session so far-------- it is mad market

i saw the news that HK index has 20% short interests on it's head currently----we talk about index---20% shorts?? gonna be kidding me!!

i hope someone can squeezed crap out of it.

 

 

[early birds]

HK index up nearly 500 points so far. no surprise there given that record short interest.

 

now, can asx200 hit through 5400?? all other major index apx dax ftse100 eg... all out of down trend last night session.

i already give up my prediction for this week yesterday when our market closed below 5300, it just turned and looks gonna hit through 5400....

nice shake out!!

 

 

[early birds]

http://www.cnbc.com/2016/05/25/run-for-cov...ts-gartman.html

 

Anybody who's short ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâہ¡ÃƒÆ’‚ and there are a lot of smart people who are in fact heavily short ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâہ¡ÃƒÆ’‚ they have to run for cover, and I think it could get ugly," he added.

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for once he is not BS.

 

 

[early birds]

5400

can we get through it with conviction today??

looks it will wait for other asia market to give it push today.

 

 

[early birds]

strange again.

people blame stock option expiry today.. it is freaking wild and unpredictable move.

 

 

[nipper]

26/05 .... SPI up again (now +15 to above 5400) & Europe pushing ahead

 

must be saying nice things at the G7

[early birds]

i took some longs for AUD when it hit 72.25cps with stops at 71.95 cps

i guess 5400 will be over come tomorrow as shorters cover themself.

think we might have good May{ not sell in May and go away}

 

i think of buy more of s32 tomorrow if asx200 hit through 5400{looks like} as it has silver in it's p/o???