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Index Trading, xjo, dow, dax, ftse
early birds
post Posted: Today, 07:08 PM
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A rough start to the week for global equities as they responded to the news over the weekend that despite China’s best efforts to contain, there had been a worrying increase in Covid-19 cases outside of China.

By the end of the session, the S&P 500 had erased the final remnants of its +5% year to date gains. And in the process, it answered the question we posed last Friday as to whether the S&P 500 could hold above the key 3330 support level to steady nervous markets.

In our recent articles and videos, we have alluded to the risks of a pullback in equities. Although given where markets were as news of the virus spread, it wasn’t a particularly brave call. Returning to Friday's article on the S&P 500 for a moment we said

“a break and close below 3330 would signal a retracement back to 3200 was underway.”

Similar to the USDPY move last week, the S&P 500 all but reached our 3200 target in super quick time and meeting our minimum objective. The tricky part for traders is what comes next? Specifically, should the dip be bought in anticipation of the uptrend returning or should bounces be sold?

As pointed out by the excellent Charlie Bilello on Twitter, the correction over the past few days is the S&P 500’s 26th fall of 5% or greater since the GFC March 2009 low, before the uptrend has resumed. The dispersion of the falls is varied, while most have been between 5% and 10% there have been two greater than +20%. Hence there are risks in assuming the current decline is over.

In the short term, I would expect sellers to emerge and cap rallies on bounces towards the breakdown level 3300/3320.

In the medium term, I will be closely watching the band of support between 3210 and 3180 for signs that the S&P 500 is attempting to put in a place a base. Keeping in mind, should the S&P 500 break/close much below 3180 it would open the way for the decline to extend towards the 200 day moving average 3070/3050 area.
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DYOR as always!!

 
joules mm1
post Posted: Today, 01:30 PM
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$xjo
if the cash can close above 50% of todays high to low that'll go a long way to telling the dummy spit is over, any positive news is likely to feed into that move

in the overnights US $spx, the cfd printed a double bottom 3213's, value zone for bids




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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: Today, 10:15 AM
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buying the round number
$xjo 6800 consistant bid, short covering, how far can this travel?
$xauusd goes offer



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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: Today, 09:02 AM
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https://www.bloomberg.com/news/articles/202...inally-sell-off


if DOW drops another 500 points tonight. it might be a rebound in intraday . for traders only [ 200ma sits at 27300 ish]
if a long term investor, should've stay away from this type of pull back.

because if Dow drops another 3000 points and it still in the bull market. that is how high the index running so far..

 
early birds
post Posted: Yesterday, 12:17 PM
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In Reply To: early birds's post @ Feb 20 2020, 09:57 AM

stopped out again for hsi.

been stopped out a lot lately . seems have to coo; my self down a bit. too much " over night events" to affecting the market .



 
early birds
post Posted: Feb 20 2020, 09:57 AM
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In Reply To: joules mm1's post @ Feb 18 2020, 01:12 PM

SPX ---my trailed stops , only made 8 points profit for the shorts that i took day before.

but bought few longs for hsi at 27575. now i trailed stops at 27500.

not much to trade on at moment. from my eye of course .

hope you guys can tell here what you spotted in the market. tongue.gif






 

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joules mm1
post Posted: Feb 18 2020, 01:12 PM
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In Reply To: early birds's post @ Feb 18 2020, 10:50 AM

not so sure about the US/Aus indexes, theyre still pretty bully, only overnight sells to test weak stop levels
honkers looks good for more downside next few days
negative trends attract negative news




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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: Feb 18 2020, 10:50 AM
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SPX.
if it falls off from apple's earning miss here. then down side target is 3300ish to my TA turn{ short term ----more like week or two]
stops just at 3385 if shorted at 3375.
RSI showing clear divergence with the price.......




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early birds
post Posted: Feb 14 2020, 01:04 PM
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In Reply To: joules mm1's post @ Feb 14 2020, 09:52 AM

took the shorts for HSI last night. but got stopped out just now.

bulls seems not even afraid pf weekend anymore?? unsure.gif



 
joules mm1
post Posted: Feb 14 2020, 09:52 AM
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pingpong day $xjo !
no real sign anyone wants to sell except the futures kiddies are busy trying to rip the thin trade




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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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