This is a mobile optimized page that loads fast, if you want to load the real page, click this text.

Trading The SPI - NON-Gann Techniques

Jump to new
Mkt rallied well the last 2 hours,if and only if the correction has bottomed, was a 457 pnt fall of 7.10%, which is 57.7% of the last advance, the average for this present long bull mkt.
Lets see what happens. porkpie
 
Trade_It said:
Hats off to you Frink looks like you have called it to just about the price as well.

well done!
Click to expand...

cheers TI. Make enough posts on the topic, and I'm bound to get one right eventually

porkpie324 said:
Mkt rallied well the last 2 hours,if and only if the correction has bottomed, was a 457 pnt fall of 7.10%, which is 57.7% of the last advance, the average for this present long bull mkt.
Lets see what happens. porkpie
Click to expand...

nice work porkpie. Looks like you had it sussed well before the market opened today. Have you done any of those kinds of stats going back before the bullmarket started?
 
My data only goes back to 31/03/2000, if I had more historical data I could doe some analysis, porkpie
 
Interesting how the daily S2 was also 6130 ish support....If this does not hold then 6000 will provide a little support surely. And after that 5900?

Cheers,
 
CanOz said:
Interesting how the daily S2 was also 6130 ish support....If this does not hold then 6000 will provide a little support surely. And after that 5900?

Cheers,
Click to expand...

is that a CFD index you're looking at canuck?

6000 has been tested this morning on the SPI and rejected pretty quickly. Currently @ 17. Have no faith in a long from here even though it looks to have found some support.

But I would say that, I have shorts on elsewhere
 
professor_frink said:
is that a CFD index you're looking at canuck?

6000 has been tested this morning on the SPI and rejected pretty quickly.
Click to expand...


Well thats it then, i can't learn anything with IG it seems. I had no idea they were that far out. So what is it, CASH mkt during trading hours and SPI after hours that it tracks...silly really.

Looks like i best finish my InterActive Brokers application.

Thanks Frink, good trading.

Cheers,
 

Yep they are very messy in that way. You also miss out on seeing the volume and order flow with the CFDs. get onto IB its pretty good
 


IG have a cfd called the " Australia 200 forwards " which tracks the SPI and has a 3 point spread. The " Australia 200 cash " also tracks the SPI but with the premium or discount built in.
 
If this correction takes as long to get over as the previous corrections during this bull run it could take 3 to 4 months to pass, last years correction took 5 months and 7 months to pass the previous high. So hang on to your hats it could be of a bit roller coaster ride for while.porkpie
 
The long term trend line which started during March 2003 for this present bull run is still in place, infact with last nights ASX200 close at 5941 the trend line is at 5755 still 186 points clear.
This present correction at the moment is 491 points 7.63% when compared to last years correction a 648 pont fall 11.98%. The average correction for this bull run is 56%. Until this trend is broken convincingly the bull run still holds. porkpie
 
I cannot see how this most recent violent decline could just evolve into another sideways phase....in my view the distribution is nearly complete and prices will fall from lack of demand....then perhaps a consolidation period...but i just can't see it at the top again.

Or where you just having us on?

Cheers,
 
so the bull lives! diamond top would be fine with me TH, so long as it doesn't drop 1,000 pts in a day that would be a real shame
 
CanOz said:
but i just can't see it at the top again.

Or where you just having us on?

Cheers,
Click to expand...
Yes a little play around. but Its is a possible pattern that could form. Lower highs higher lows. To make a Diamond pattern but not back to the Highs.

Edwood said:
so the bull lives! diamond top would be fine with me TH, so long as it doesn't drop 1,000 pts in a day that would be a real shame
Click to expand...

Not an expert but I believe that they are more common at major tops rather than consolidation points!
 
not sure really TH, I remember looking at diamonds at one stage but they didn't seem to be very reliable so didn't make a habit of hunting them out. if we do consolidate I hope its a nice wide range.

like today - all you need is a 1min chart & 50sma - long may it continue!
 
Lookout below!!!!!

I gotta go to lunch, but i don't this this index will be above 6000 when i get back!

Cheers,
 
You must log in or register to reply here.

Similar threads

Trading The SPI - Gann Techniques
2 3 4
Replies
65
Views
17K
Freddo
International Index Trading
67 68 69
Replies
1K
Views
158K
Edwood
E
J
The official James is going to take the plunge thread
Replies
10
Views
5K
divs4ever
The best I've seen on ANY Forum!
2 3
Replies
50
Views
22K
frugal.rock
Menu
Log in
Register
Cookies are required to use this site. You must accept them to continue using the site. Learn more...