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Big gap down but within yesterday's range so not sure if the gap will be filled.
Double Top or not on Global ES, let's see if bears are able to push down below the thick blue line, otherwise it's just an imaginary pattern, not real.
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the previous push up was strong so GENERALLY, bulls will at least try to fight back somewhere. Usually the previous breakout point ( around blue line) is the pullback target, so guess bulls might wait around there to fight back.
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In my trading software, the SPY p-bar is visible only when I activate my software to show the Data outside regular trading hours.
Otherwise the p-bar is not visible.
IMHo this P-bar is a fraud similar to Lie -Bar (LIBOR) and one day it will make headlines, but by that time we will be hitting 2000SPX and 20000 dow, so it may not matter
euro : yesterday's rebound was corrective, ideal target is 1.33 for c-wave
not updazted
not updated
first 5waves are likely completed now is time for rebound
not updated
BTW I see broadening tops across the world, looks like DAX is a leader in BT formation we will see GL
My satisfaction always came from beating the market, solving the puzzle. The money was the reward, but it was not the main reason I loved the market (Jess Livermore)
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euro : yesterday's rebound was corrective, ideal target is 1.33 for c-wave
Euro.png
first 5waves are likely completed now is time for rebound
E.png
BTW I see broadening tops across the world, looks like DAX is a leader in BT formation we will see GL
Yes agree thanks, we are now at 7560 and I am looking for 7500 to close 1/2 swings then reload higher after retrace
My satisfaction always came from beating the market, solving the puzzle. The money was the reward, but it was not the main reason I loved the market (Jess Livermore)
2 trade ideas out of my favorite type of setup - a inv H&s under a gap for anyone who is interested. I don't have positions in either, but if they trigger I'll be long:
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a little resistance here, so need a little time here. wait.
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Net Long. Carrying long and short.
Sold some ES last night (1508).
My composite trend signal is bullish.
My summation index signal went to sell last night. With the MO around zero, I am not viewing it as conclusive.
So, I am treating the signal more like a neutral than a sell, but will watch the action for confirmation or denial and proceed accordingly.
I have two signals now that suggest the market wants to correct.
With the trend soundly up and continuous infusions of liquidity ongoing, it is unclear how far a correction could go.
Could be down a bunch or a sideways chop sort of thing.
I am trying to honor the signals by moving toward neutral selling highs but will adjust as things unfold.
If the bulls keep trotting along, the hedge will be closed.