SPI200 Chat - What will happen next?? *suspense music*

[moXJO]

You shorts are braver than I. I thought it looked bullish breaking above that old resistance and above 200MA?(so long as it closes above)

I'm long like Donkey kongs prong on some US stock though. So I hope you guys are wrong:

 

[CapnBirdseye]

When or if the XJO gets to 4000, will it stop raining? Hope so.

 

[skc]

I guess the problem with getting fixated on lagging indicators is that,,

What are you talking about? Clearly with balls of steel and holding onto my position I am now break even!

2 more points to 4000. I have party popers in hand.

 

[Mr J]

I don't like the terms overbought and oversold because it only refers to whether the market seems out of balance, and not to whether the market is turning.

 

[ivant]

Bagh its not letting me upload. i'll post a link in a sec

 

[beamstas]

Bagh its not letting me upload. i'll post a link in a sec

Its ok we can just go to your blog

 

[skc]

There we go! Merry Xmas everyone.

 

[beamstas]

4000 next stop 7000

 

[korrupt_1]

There we go! Merry Xmas everyone.

... followed by Easter decorations the very next day

 

[Mr J]

4000 next stop 7000

Great. Good ride up, and it'll be an even better ride down. GFC #2. I missed the first.

 

[beamstas]

That was short lived

 

[Trembling Hand]

That was short lived

That was a SPi breakout.

 

[moXJO]

While everyones here what is the e-mini symbols for dow, s&p 500 and xjo?

 

[ivant]

There we go. Otherwise http://2.bp.blogspot.com/_Wyd5_hNpg30/SiX6rWKpYrI/AAAAAAAAABs/OEOOQwVcW3Q/s1600-h/img_12440024174699.gif.

I don't use RSI that much, I prefer Chande's. Overbought/oversold indicators often do unwind and consolidate, without doubt. That's why it is good to use them with support and resistance lines, as well as fib levels. They do often fail. But you still never see a market rally 200 points in the face of massively overbought levels without a stop.

 

[Trembling Hand]

While everyones here what is the e-mini symbols for dow, s&p 500 and xjo?

YM
ES
SPI or AP

And of course you mean futures not emini!!

 

[nomore4s]

But you still never see a market rally 200 points in the face of massively overbought levels without a stop.

I thought we just had a break and consolidation? And now it is now pushing up through resistance?

 

[moXJO]

YM
ES
SPI or AP

And of course you mean futures not emini!!

Ta TH, you can tell I'm a futures nub

 

[skc]

But you still never see a market rally 200 points in the face of massively overbought levels without a stop.

Stop <> Reverse is what everyone's saying.

And despite SPI now being 4010, it's still raining in Sydney

 

[beamstas]

I don't use RSI that much, I prefer Chande's. Overbought/oversold indicators often do unwind and consolidate, without doubt. That's why it is good to use them with support and resistance lines, as well as fib levels. They do often fail. But you still never see a market rally 200 points in the face of massively overbought levels without a stop.

You have so many indicators i can't even see the price

 

[Frank D]

SPI Weekly and 5-day pattern

Ivan,

You are like a great system, works perfectly when the market allows it
to work perfectly, but when market conditions change all great systems experience drawdowns or go into the dust bin

You just need to work on your ability of understanding when those
conditions change, and at the moment you’re simply not reading the
market correctly.

This market is going to go to 4400, and if you are short you better hope
the JUNE highs @ 4042 stop this up trend this month, otherwise you need
to stop shorting the market above 4042 regardless of what you think.

Just my 2 bobs worth