International Index Trading

[wayneL]

US Indices, FTSE, DAX, Hang Seng, Nikkei, whatever.

Discuss it here. Normal rules apply;

No hindsite trades.

No solicitation of education services.

The posting of dollar sums of profit or loss is discouraged.

Do not post information or discussion on technique if you are not prepared to answer questions. Preservation of intellectual property is fine, but please, no teasers. This will be viewed as backdoor solicitation.

DO ask questions and partake in discussions for mutual benefit

DO respect peoples time and opinion.

Cheers

 

[Edwood]

cheers Wayne - and the SPI too of course!

big spike up on the futures pre-open for Dow, looking like 70+ gap at the moment. Caterpillar beat estimates, as did Honeywell, on top of Googles results. hard to believe just over a month ago we were below 12,000!

 

[reece55]

cheers Wayne - and the SPI too of course!

big spike up on the futures pre-open for Dow, looking like 70+ gap at the moment. Caterpillar beat estimates, as did Honeywell, on top of Googles results. hard to believe just over a month ago we were below 12,000!

Yep, nothing short of incredible.

I looked when the DJA was 50 points up and contemplated a long, thought I may have missed the boat however. Hrmm.... Now 93 as we speak..... It is going to be a big night on the NYSE......

However, Wall Street is looking pretty overbought at the moment. The thing that interests me is that structurally, the US economy is in big trouble. Their $ is down so much and the yen free carry is still on everyones lips. But their stock market is in serious bull mode..... As always, we need to trade on price, because its what pays us in the end. The shorts would be getting very hot under the collar by now and tonight might be a time where they close out.

Cheers

 

[wayneL]

cheers Wayne - and the SPI too of course!

big spike up on the futures pre-open for Dow, looking like 70+ gap at the moment. Caterpillar beat estimates, as did Honeywell, on top of Googles results. hard to believe just over a month ago we were below 12,000!

The only question is Gap & Trap, Gap & Stall or Gap and Run.

Spooze (SP500) is already well past 24 hour r1. Prolly open at r2

Places yer bets.

 

[>Apocalypto<]

Watching the pre market build as well as i type now 94

I am so tempted as well right now, to go long on the dow and aussie 200 but it does not meet my entry criteria.

It is so far away from its trend this is also confusing me i thought we would see a little more weakness.

I am thinking i will sit it out till the next dip.

 

[wayneL]

Notable in this rally is that it is all large caps driving the action. Small/medium caps aren't nearly so strong (as measured by Russel 2000)

This is apparently a bit ominous according to "experts".

dow at r2 atm, russel at only r1

 

[wayneL]

Longs don't have a good enough risk/reward for me. Will be looking to jump in front of the freight trai... err short opportunities

 

[Edwood]

me too Wayne fwiw - dangerous game, but we'll find out soon enough if it has legs or not

 

[>Apocalypto<]

Notable in this rally is that it is all large caps driving the action. Small/medium caps aren't nearly so strong (as measured by Russel 2000)

This is apparently a bit ominous according to "experts".

dow at r2 atm, russel at only r1

I am not getting in on the long side, I am starting to think more on the correction side

 

[Edwood]

he he - good stuff this hey! picked a good night to stay up for Dow! coming off quickly now, was under water for a bit there

 

[Edwood]

well looking at the hourly candles we are well outside the upper bolly and a long tail above plus RSI > 80 so we should drop back from here - could be 50+ pts in it, stops in & off to bed for me

cheers for the new fred Wayne

 

[reece55]

well looking at the hourly candles we are well outside the upper bolly and a long tail above plus RSI > 80 so we should drop back from here - could be 50+ pts in it, stops in & off to bed for me

cheers for the new fred Wayne

Trading in a tight range at the moment - resistance @ 12,934~, with buyers supporting at about 12,918. It will be interesting to see if it holds the gains.....

I think we might give them back however...... Good luck in your short Edwood

 

[wayneL]

Some good signals of the pivots on the SPooze fwiw.

Bit of a zzzzzzzzzzzzzzz really.

 

[Edwood]

aye was a bit in the end, at least I got some sleep & wasn't stopped out. nice chart Wayne - excuse my ignorance but whats the green band?

here's another picture for those who prefer them to lots a words! yes those period separators show the rise is < 6 weeks in the making

 

[wayneL]

aye was a bit in the end, at least I got some sleep & wasn't stopped out. nice chart Wayne - excuse my ignorance but whats the green band?

It's a slightly different way calculating pivots I pinched off fibonacci trader. Instead of the traditional calcs, it calculates 50% and 61.8% of yesterdays range above and below the pivot and fills in the space in between as a band of possible supp/res. (hat tip to Frank D)

I plot it as well as the traditional calcs.

 

[Edwood]

ah ok, looks useful!

they were still buying it up after cash close so thats me stopped out, apparently this week is statistically one of the strongest of the year in the US with average gain >1% but wasn't expecting a rise like that today. maybe next week we'll see a bit of profit taking - altho SPI will no doubt have a good start

have a good w/end!

 

[Edwood]

long term FTSE

 

[Edwood]

Dax. similar pattern on Hang Seng & ASX fwiw, ie possibility of a decent wave 4 when the next correction gets going, back to last June lows, but not looking like the 'top'

 

[Edwood]

From The Times
April 21, 2007
CITIC Bank raises $5.4bn in largest IPO this year


Nick Hasell, Banking Correspondent

China’s CITIC Bank, the country’s seventh-largest bank, has raised $5.4 billion (£2.7 billion) in the world’s biggest initial public offering (IPO) so far this year.
Shares in the Beijing-based bank were priced at the top end of their range before the start of dealings in Shanghai and Hong Kong next week. The fundraising, which values the state-owned bank at $28.9 billion, is only the second simultaneous listing in Shanghai and Hong Kong since last October’s landmark $21. 9 billion debut of Industrial and Commercial Bank of China (ICBC), the country’s biggest lender.

 

[Edwood]

Technical Market Report
by Mike Burk


The good news is:
• All of the major indices closed at multi year or all time highs on Friday.
Short Term
The Dow Jones Industrial Average (DJIA) completed the 7th of 7 consecutive up days on Friday for the second time this month.
In the past 20 years there have been two similar events in 1987 and 1996, but, none this close together.