A bounce tonight?

[Bush Trader]

6% could be just a correction, but 8% would confirm it. The past 'corrections' have lasted 3 to 6 weeks before steadying and/or heading higher, so we might have a couple more to go. This could be one of the dead cats....

I’m with the Dead Cat Theory, however with shedding so much so quickly the market could rally over a number of days especially if we see Asia, Europe, and the US pick up over the next 16 hours. All arrows point to 5400 ish (another 3.5%). Sorry to sound like a bear, I am a bull at heart.

Cheers

 

[Dr Doom]

Sorry to sound like a bear, I am a bull at heart.

Cheers

Call it as you see it Bush Trader, no need to apologize.
I'm seeing a dead cat bounce, bull trap, pump & dump day today, call it what you will. A double top as we speak, er type

The US market eg DOW had a similar pattern develope before fading into the close this morning. I can see more downward momentum this week at least with crucial announcements on the US economy this week. It's funny how these things all seem to align. Anyhow, wait to see if this uptick today has legs, but I doubt it?

 

[>Apocalypto<]

Call it as you see it Bush Trader, no need to apologize.
I'm seeing a dead cat bounce, bull trap, pump & dump day today, call it what you will. A double top as we speak, er type

The US market eg DOW had a similar pattern develope before fading into the close this morning. I can see more downward momentum this week at least with crucial announcements on the US economy this week. It's funny how these things all seem to align. Anyhow, wait to see if this uptick today has legs, but I doubt it?

Agree with you DR this looks like a sucker rally.

waiting for a bottom and new break out on the weekly chart before I make any moves on the long side.

 

[nizar]

Even corrections have updays.
Check previous corrections.

 

[Dr Doom]

Here we go - could be start of the dumping???

 

[PhoenixXx]

Here we go - could be start of the dumping???

I'm expecting the worst now.

 

[Teddy Bear]

Dr Doom & Pheonixxx,
- 'could be the start of the dumping', Dr D
- 'I'm expecting the worst' - Phoenixxx

Will the dumping be fast and furious over the short term (next day or two) or happen over the next few weeks. If you could expand on the roll out of the possible events that will happen in this type of market I would appreciate your experienced views as I am but just a toddler in the play school of trading. Pls anyone else who wishes to add to this would be good.
Tks
TB

 

[PhoenixXx]

6% could be just a correction, but 8% would confirm it...

I agree, yesterday was a significant bounce, don't wanna see the index slump again today, but be prepared

 

[KIWIKARLOS]

New Highs here we come.

US up over 1.5% and most asian indices up around 2%. Dead Cat bounce before the end of world crash I think not.

I'm thinking this will be a minor correction and this oscillation recently is mearly a leveling out.

I agree there are underlying problems with some major economies, namely the US and China. But there is also alot of strength, these problems will show their effects later this year unless something can be done to avoid it.

Who knows maybe the US has a plan to comabt these ARM's , declining housing market etc.

I wonder what the next bubble will be :

 

[nizar]

I'm thinking this will be a minor correction and this oscillation recently is mearly a leveling out.

Minor correction?
Most corrections take at least 3-4 weeks to play out and lose 8-10%.

This has lasted a week and the markets lost about 6%.

History tells us a bit more to go.

But im on the sidelines and id love to be wrong.

 

[Sean K]

New Highs here we come.

US up over 1.5% and most asian indices up around 2%. Dead Cat bounce before the end of world crash I think not.

I have the perception the average ASF member has factored in a correction, and then resumption of the bull. There are some more bearish, but I don't think world crash is a concensus thought.

Looks like we could have another good day today, but I doubt that the skittishness of world investors has disappeared overnight. Another excuse to take profits might appear in the comming days. I don't think it will take much.

 

[nizar]

I have the perception the average ASF member has factored in a correction, and then resumption of the bull. There are some more bearish, but I don't think world crash is a concensus thought.

Looks like we could have another good day today, but I doubt that the skittishness of world investors has disappeared overnight. Another excuse to take profits might appear in the comming days. I don't think it will take much.

If i had was still long some stocks i would take profits today.
In my opinion.

 

[theasxgorilla]

Does anybody need more proof than yesterday and last night that it is not simply a given that the Aust market always follows the US?

 

[rico01]

This dead cat sure has some bounce!!
But i,m sure its dead

 

[Struzball]

This dead cat sure has some bounce!!
But i,m sure its dead

cats have 9 lives....

 

[Uncle Festivus]

Hi all,
This is probably a bit premature, but does this count as a 50% retracement?. The chart is from a cfd providers (IG) synthetic values but are pretty close to real market XJO?.