Dear Readers, the confusion is a King in current trading environment. The longer term picture is hopefully clear with the YELLOW BRICK ROAD outlook, but anything can happen day by day. This market is making it hard to die and is looking for as many prays as it can find. So, it goes up and down in search of the next short term breakout. The parameters are this same as yesterday the level of 54.60 for Q's represents a do or die 60% Fib Level to concur if it wants to move higher, break below yesterdays low will do the same in the opposite direction. Pressure and Summation charts are not giving a buy signal, and that is important to know. That never means market can not go higher, it just means that the benefit of the doubt belongs to shorting.
8 comments:
Boris, good morning , thanx. I used the limits trading the S&P yesterday. Did ok. Used SDS, could have made more than one trade but do not feel I am at that level yet,
Old John
Dear John
Good Morning
GOod Trading
Boris,
the yen?
old john
Dear John,
Yes, it is going lower causing the markets to rise, but we could be cose to turnaround...
GOod Trading
Hello Boris....
Your summation chart looks like a strong sell to me...
the buck is in near freefall Boris, or so it seems to me.....and it seems to me that a foreigner would be a fool to hold usa shares and take such a long, cold shower :-)
and btw, thanks for the CHF levels....keep them coming :-)
Dear Readers, Xerxes,
The securities are most dangrous, when their back is up against the wall. So is the Dollar now...
Please be careful. Notice that almost not many currencies were making the new and extreme highs against the $Dollar, this is another hint that $ will find a strenght, even if temporarily, around these levels of low 76 and 74. While we could eventually get to 70. For now I do not see how one can plunge into $ shorts, if not there already.
GOod Trading
Hello Boris......
I'm no chart guru but my reading of the tea leaves suggests that much below 75 and the buck could very well be big time panic sold.....
I hope I'm wrong and we get a good bounce like you suggest.....
Dear Xerxes, 1.5 % is not such a good bounce, but that should do any time now.
Good Trading
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