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Index Trading, xjo, dow, dax, ftse
cooderman
post Posted: Oct 26 2018, 03:10 PM
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In Reply To: early birds's post @ Oct 26 2018, 06:51 AM

QUOTE
i reckon use the bounce to raise more cash ----at least to 30---40% level. imho though.


Hey EB, the local market has taken a beating this month, and testing important levels right now.
See if we get another long tail overnight and maybe a bounce next week. Daily and Weekly chart.
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joules mm1
post Posted: Oct 26 2018, 02:50 PM
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In Reply To: joules mm1's post @ Oct 26 2018, 09:46 AM

best laid plans ......
pros appear to be bidding late arvo ...if theyre keen to be long over the weekend then that's a bully heads up
$xjo




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. . . . . . . . everything has an art.....in the instance of the auction process, the only thing, needed to be listened to; price
 
joules mm1
post Posted: Oct 26 2018, 09:46 AM
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$xjo appears to be supported today at the low, structurally a completely leg down printed
doesnt mean the futes wont get dragged lower overnight but cash will probably spend a few sessions getting cheap supply
in a tight range




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. . . . . . . . everything has an art.....in the instance of the auction process, the only thing, needed to be listened to; price
 
early birds
post Posted: Oct 26 2018, 06:51 AM
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Australian shares are poised to rally to end a dismal week, as 'buy the dip' proves the strategy still has some room to run yet. ASX futures up 73 points or 1.3 per cent at 7.15am AEDT. The Australian dollar edged 0.3 per cent higher.

"It's natural to see an increase in market volatility" at this stage of the cycle and investors need to get used to it as it could extend for some time yet, NAB's Rodrigo Catril said in a morning podcast.

Wall Street bounced with all three benchmarks sharply higher at the close - the Nasdaq leapt more than 3 per cent - as investors embraced techs again. Microsoft's strong quarterly results help quell yesterday's panic attack. The Dow was up 1.6 per cent.

After today's closing bell in New York, Amazon and Alphabet are set to report results. Intel too.

The VIX retreated 8.6 per cent to 23.06 at 4.01pm New York time.

The yield on the US 10-year Treasury note was 32 basis points higher at 3.12 per cent at 4.19pm in New York, widening the gap with its Australian counterpart to 51 basis points. The Australian 10-year note yesterday settled at 2.61 per cent.

"October is known for volatility, and we've sure seen it so far," LPL senior market strategist Ryan Detrick said in a post. "In fact, by many measures, October is poised to be one of the worst months in years. The S&P 500 Index has had two separate six-day losing streaks this month for the first time in history. That pretty much sums it up."

Mr Detrick said there has been reason for investor angst: "Six days out of 18 (33%) have closed at least 1% higher or lower for the first time since 1963, which comes on the heels of not a single 1% change during the entire third quarter of 2018."

In addition, Mr Detrick said the S&P 500 has been down 14 days so far in October, the most for any month since May 2012. "Also, 78% of the days this month have closed in the red (14 of 18), the worst for any month since 82% of days in April 1970 closed down."

Ever the optimist, Mr Detrick also said that since 1950, there have been seven other years when the S&P 500 was positive year-to-date at the end of September, but fell negative year to date at some point during the month of October. The final two months of those years were higher six times and up 4.1 per cent on average.

"Historically, the last few days of October have been some of the strongest of the year," Mr Detrick concluded. "With markets looking extremely oversold, the stage could be set for a rally."

BlackRock's Paul Mele also sought to assuage concerns about the sell-off. "Like death and taxes, precipitous market drops also seem to be one of those unavoidable, inevitable realities of life. But what we have observed, at least historically, is that markets have a way of clawing their way back."

Mr Mele also said while large market drops can rattle any investor, those focussed on the long-term need to weather short-term volatility. "Good and bad days tend to cluster together: out of the 25 worst days in the market from 1998-2017, 23 were followed by one of the 25 best days within one month."
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people still try to "buy the dips"........ i guess there will be the day when things didn't work and it will be too late for a lot of people. ohmy.gif

i reckon use the bounce to raise more cash ----at least to 30---40% level. imho though.



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joules mm1
post Posted: Oct 25 2018, 09:01 PM
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In Reply To: joules mm1's post @ Oct 25 2018, 08:41 PM

this might clarify previous post, in context:

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. . . . . . . . everything has an art.....in the instance of the auction process, the only thing, needed to be listened to; price

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joules mm1
post Posted: Oct 25 2018, 08:41 PM
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In Reply To: early birds's post @ Oct 25 2018, 08:00 PM

certainly looks that way based on the H & S idea

problem is the HnS idea is very large so we need to judge the size of the bounce relative to that and not mistake a small bounce as meaningless

the quality of the initial bounce is key

ECB presser tonight 11.30aest so we're probably in a set-up to sell that

here are 2 competing ideas on H&S:


http://thepatternsite.com/BustHST.html

https://samuraitradingacademy.com/7-best-pr...ction-patterns/

in this posted chart my idea is to annotate alternative largest context ideas

for the H&S pattern to fail: the prelim signal is breaking the initial shoulder downslope (yellow)
then if price takes out the swing high (11679) that level would give a secondary signal and the bulls win

H&S is confirmed by price failing to pierce the downslope and holding any retest of the downslope

longerterm that would leave open the second upward slope as a target (both down and up slopes conform to the Wolfe Wave pattern



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. . . . . . . . everything has an art.....in the instance of the auction process, the only thing, needed to be listened to; price

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early birds
post Posted: Oct 25 2018, 08:00 PM
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In Reply To: joules mm1's post @ Oct 25 2018, 06:08 PM

short term bounce for Dax??
from daily chart a " h&s" top is formed with neckline at 11895ish.
sell into rally for Dax?? unsure.gif



 
joules mm1
post Posted: Oct 25 2018, 06:08 PM
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$dax on a bid ......best construction i've seen in several sessions
$xjo cfd keen follower




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. . . . . . . . everything has an art.....in the instance of the auction process, the only thing, needed to be listened to; price
 
joules mm1
post Posted: Oct 25 2018, 05:44 PM
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In Reply To: nipper's post @ Oct 25 2018, 05:33 PM

lol, for mine i got kicked out of so many trades i'll need the weekend to count them ! rolleyes.gif



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. . . . . . . . everything has an art.....in the instance of the auction process, the only thing, needed to be listened to; price
 
nipper
post Posted: Oct 25 2018, 05:33 PM
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In Reply To: joules mm1's post @ Oct 25 2018, 04:50 PM

No 2:30pm margin call action yet, though smile.gif



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

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