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Trading The SPI - NON-Gann Techniques

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why don't you give them a call RK?

lots of good out of hours action again, anyone else here participating in it or only 'market hours'?
 
morning Ed,
looks like the o/n action found a bit of support at the Jan 3 highs. I've put a couple of potential support levels that could be tested if it manages to head lower over the next couple of days. Over the last couple of days, the market has made a couple of failed attempts to break through 5850, looks like any move up is going to have to work it's way through the supply at that level before any rally can be considered sustainable.

In regards to this morning's rally, keep an eye on the nikkei when it opens-we were going well yesterday until it stalled in early morning trade. If the nikkei starts tanking again today, it could be a good heads up to any rally coming to an end.

Cheers

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professor_frink said:
nikkei drilling down to new lows as I type- If anyone's long- be careful :eek:
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thanks for flagging that Prof! was long earlier for the gap run, but now short. looking at the weekly chart earlier, MACD isn't close to crossing over yet on this move. if we get a similar reaction to May 06 at cross we have plenty of downwards to come :)

how you getting on with Hang Seng??? brave man!
 
Edwood said:
thanks for flagging that Prof! was long earlier for the gap run, but now short. looking at the weekly chart earlier, MACD isn't close to crossing over yet on this move. if we get a similar reaction to May 06 at cross we have plenty of downwards to come :)

how you getting on with Hang Seng??? brave man!
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no worries mate :)

Nik is off about 1.2% now. Our market has held up pretty well considering.

HSI is great, but it requires a lot of time to manage, it can turn on you in an instant. I can post in here whilst I've got a trade on with the nik, but there's no way I'll be doing that with the HSI!
 
Head and shoulders on 2 min spi ,5770 ish if comes off as per regulation pattern ,NAthan
 
hi yes could be right about h and s patterns thou till in hind site how does one know it was a top or bottom ,it looked so obvious on the 2 min i thought worth a go ,not too much harm done ,as always the market has the final say .Nathan
 
nat said:
hi yes could be right about h and s patterns thou till in hind site how does one know it was a top or bottom ,it looked so obvious on the 2 min i thought worth a go ,not to much harm done ,as always the market has the final say .Nathan
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yep tops & bottoms are tough & can be expensive trying to pick them! imo the shorter the timeframe the less reliable the pattern so if you want to use something like H&S you should aim to back up your decision to trade with other indicators. might pay to do some testing on ASX
 
RichKid said:
Who is the main EW guru at macquarie guys? or names of the main EW analysts there.....just curious, pm me perhaps...I like the analysis though favour it atm, corresponds to a re-test of the previous high/breakout level.
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RK, its Frank Bongiorno. Good luck trying to get on their email list though. I tried for a while with no luck. Once I signed up for a futures account with them though I've been getting everything.
 
OOOOPS....I've left a short on the ASX200 open to try to get some more out of it tonight and I've just been told I'm going out to dinner tonight... :eek:
 
Kauri said:
OOOOPS....I've left a short on the ASX200 open to try to get some more out of it tonight and I've just been told I'm going out to dinner tonight... :eek:
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Kinda glad I settled for Kentucky Fried Duck in front of the monitor.. :)
 

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nice work Kauri! :)

this from the US, no doubt if they bounce we will join in. altho it doesn't mean we can't go lower first!

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Hi Edwood,
I was lucky I think, at least to get away with putting some Puketutu Teagle on the table instead of going out for dinner. :D
The call/put ratio at market close on the XJO would suggest a gap down opening?? After that.. I think I will spectate for a while and see what develops. :)
Kept the trade open due to call/put ratio on the XJO at close of market. (Also took an intraday short earlier on on CBA on a pattern and the ratio, WOW looks shortable on the close put/call ratio too but will possibly gap down on open too much for an intraday trade :( ).
Cheers
Kauri
 

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ahh, cheers for that Kauri - I was wondering where I could find put:call for ASX - is that info readily available??

I'm thinking 60-ish gap down from Fridays close, we'll see how it plays out, anything could happen in this market!

(edited - started rabbitting on & posted a chart - then looked at yours again & its pretty much the same data by the look of it so have deleted)
 
nice work Kauri :)

It will be interesting to see if there is any follow through after the open tomorrow- folks have had all weekend to think about what's happened the past week.
 
The first hours call/puts....
 

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