International Index Trading

[Edwood]

yeah it was full-on when we were there, we were surprised how motivated everyone seemed to be to get ahead, even way out in the country. I guess it was a case of having to or being left behind.

here's my view of the SMI fwiw - could have a truncated 5 up into the latest high so the pattern could be complete now, needs to hold that line if its going to make new highs, otherwise could soon be time to put some shorts on!

oops - edited - thats Spain!! not SMI (blame it on the glass of wine )

 

[Edwood]

have doubled up on the SMI (Switzerland) short

 

[wayneL]

I just hope we don't get a monumental gap down in the US. That will mess up the risk/reward for shorts

 

[Edwood]

aye and am well aware of the opposite happening too tho!

here's longer term Nasdaq since you mentioned it the other day Wayne

 

[Uncle Festivus]

Is that Nasdaq chart a megaphone top or bottom?

"A Megaphone Top also known as a Broadening Top is considered a bearish signal, indicating that the current uptrend may reverse to form a new downtrend."

 

[CanOz]

Is that Nasdaq chart a megaphone top or bottom?

"A Megaphone Top also known as a Broadening Top is considered a bearish signal, indicating that the current uptrend may reverse to form a new downtrend."

Interesting UF, i was wondering if there was a pattern for that!

Cheers,

 

[Edwood]

yep thats the one, usually followed by swift retreat, but watch for partial declines (bullish) and partial rises (bearish) - i.e., fails to reach the trend line on the next move. given that we are at a short term top, Nas is probably a bearish one.

fwiw Dow is in a very large one from a few years now which McHugh calls the "Jaws of Death" - gotta smile about that one

this guy is very good on his broadening patterns

http://books.google.com/books?id=Kk...GlPE&sig=63Doth0405N_I9KwhFnjh4RCJuM#PPA97,M1

 

[CanOz]

Wow, was just watching the swiss chart! What happened there? 30 point spike down...

 

[CanOz]

Lots of indexs got hit at the same time...has something happened?

The FTSE dropped 25points+ in 5 minutes...

 

[Edwood]

US GDP came in lowest in 4 years, way under target

I think consumer confidence is out today too tho so no doubt they'll buy that up

 

[Edwood]

so we have low growth in the US now then, and inflation at the same time

 

[CanOz]

US GDP came in lowest in 4 years, way under target

I think consumer confidence is out today too tho so no doubt they'll buy that up

Yup...got it.

http://www.cnbc.com/id/18339453

Cheers,

 

[CanOz]

so we have low growth in the US now then, and inflation at the same time

Yeah, its gradually falling apart at the seams, makes you wonder what numbers to believe....

This latest news may weaken the dollar more....

 

[reece55]

Yeah, its gradually falling apart at the seams, makes you wonder what numbers to believe....

This latest news may weaken the dollar more....

New lifetime highs for USD/EUR pair......

The USD just continues to bleed!!!!

And it finally looks like we may see a pull back on the Dow - even with Microsoft's numbers (and boy, they were pretty good).

Interesting Friday night!

Cheers

 

[CanOz]

New lifetime highs for USD/EUR pair......

The USD just continues to bleed!!!!

And it finally looks like we may see a pull back on the Dow - even with Microsoft's numbers (and boy, they were pretty good).

Interesting Friday night!

Cheers

You can pump up the share market but the dollar doesn't lie!!!!

bahahahahaha! To quote "chop's" laugh.

 

[Edwood]

Can

might just have to stay up for a bit of the US session tonight...

 

[CanOz]

Funny, i just saw your name as being online and i wondered if you would stay up to watch this....

Here's what i've got open...
Gold up....
Eur/USD up...
USD/JPN down...
Wall St...still bouncing off the trend line as we speak..
oh....and crude oil off a bit...
Can't open any more, i've only got one screen.

Cheers,

 

[Edwood]

got the ASX, Dow and SMI up over here - also have a short on Dax but not watching that one, it'll go when its ready.

am still wary of the risk of a rally - would look a bit too obvious though you'd have to think if they tried it on now!

 

[bean]

or those of you who like charts charts and more charts this is a person I have a lot of time for he also gives good logic
http://www.financialsense.com/Market/goldberg/main.html
He gan gave in you like for those wavers a description. But he does these one a week todays interesting but the last on Amazon most interesting

 

[wayneL]

am still wary of the risk of a rally

I'm sure we'll be seeing headlines like:

Stocks surged on news of the 16th qtr of economic contraction and disastrous employment figures.