DOW

Hi all,

lots of emotion and fear out there. Markets needed a healthy correction. S&P 500 has fallen 10%. IMO this retrace is probably reaching an exhaustion phase. When the bulls are in control perception is it cannot stop going higher, with bears it will never stop falling.

US will lead any recovery and small caps always lead the US markets. Not saying it is over, only that it needs a counter rally.

Let's see what happens over the next few days/week.

GL
F4T

and below bull/bear at 16020...and below super wavism at 16041 /.50... need to recover this to go higher....

btfd is a thing of the past short term. it's now STFR....


all imho

Trendfriend wrote: I dont think so, this am was a great short opp imho.

uk.advfn.com/p.php?pid=chartscreenshotsh...symbol=DJI%5EI%5CDJI

This has got loads to do.
WS, is also saying all system sell.

Be very carefull with longs imo. All suckers rallys ATM.

Short into strentgh for now, untill at the very least 16310 is cleared, or 16400+ tbh.

Regards,
Trendfriend.

Exactly TF.

The trouble is, the spread-betters aren't giving anyone a chance it seems - they've smacked futures to the tune of -100 (at the time of writing on the DOW) well before the open!

Let's hope for an opp to short the bounces.

I dont think so, this am was a great short opp imho.

uk.advfn.com/p.php?pid=chartscreenshotsh...symbol=DJI%5EI%5CDJI

This has got loads to do.
WS, is also saying all system sell.

Be very carefull with longs imo. All suckers rallys ATM.

Short into strentgh for now, untill at the very least 16310 is cleared, or 16400+ tbh.

Regards,
Trendfriend.

Nice hammer yesterday, Nazdaq down less, US smallcaps up.
I'll stick my neck out: IMO the rout is over. I expect markets to reverse this week or at least settle, maybe even today. It is finally time to buy stocks.

The best level now to go long is 16000. This should bounce on first attempt so keep an eye on this.
This level has 2 supports converging, The medium term trend line and horizontal support so the patient traders will look to go long at this level on a first attempt trade with 40 points stop during market hours only.


dl.dropboxusercontent.com/u/4899609/dow14thoct2014.png

The bears are in control currently and since the 200 moving average broke with ease its likely to go lower.
There is a left shoulder already formed and the head and now all thats required is the right shoulder to signal a head and shoulders formation.So one to keep an eye on.