Trading the SPI

[Bronte]

There are signs of a bottom in the metals/oil futures (short term at least) which will be a positive for the ASX (short term at least)
A good case for being long for the next few days imo

Interesting comment Wayne

 

[Bronte]

Yes iSPI we have a timeframe day today as well.
If this High holds 5105 we will have some fun.

Comment from 10.53 this morning
Todays SPI chart:

 

[wayneL]

Interesting comment Wayne

Especially if it tanks

 

[iSPI]

Yes iSPI we have a timeframe day today as well.
If this High holds 5105 we will have some fun.

I'm no time Guru but this one was as plain as the nose on my face.

Hope you fun !

 

[iSPI]

Despite todays plummet looks like we still a little bit more on the upside.

I'm not buying it though !

I'm waiting for the short.

 

[Bobby]

I'm no time Guru but this one was as plain as the nose on my face.

Hope you fun !

Now for tomorrows opening ~ gap up ! Just a guess.

 

[iSPI]

Now for tomorrows opening ~ gap up ! Just a guess.

We got as low as 4997, looks like a get a day off for me today.
No matter what "suppose if" scenarios I put in no entry showing.

The open should interesting for those who get a chance to watch it
and look for at least a quick scalp.

 

[Bronte]

Dow down -14.1
Sycom down -27 points

 

[Bronte]

Especially if it tanks

SPI is tanking Wayne
5020 Open
Now 4992
Gapped DOWN

 

[Bronte]

5020 Open
Now 4992
Gapped DOWN

This is what we call fun

 

[Bronte]

Yes iSPI we have a timeframe day today as well.
If this High holds 5105 we will have some fun.

GANN Timeframe
(issued Dec'05)

 

[Magdoran]

This is just my musings, but…

The current pattern is consistent with my hunch yesterday at close that it was a false break, confirming a very bearish lower high in the context of the pattern. If the close looks anything like today’s low, this would be very bearish.

The pattern could yield a very fast and strong move down, panic style…. Researching now…

Agree with Wayne’s appraisal. If the banks go (XFJ seems to be the main sector index that has held the XAO/XJO up) we may see a lot of red…

 

[Bronte]

GANN Timeframe
(issued Dec'05)

19th September was our GANN Timeframe
21/22/23 September is The Vernal Equinox.

 

[Magdoran]

19th September was our GANN Timeframe
21/22/23 September is The Vernal Equinox.

Bronte,


You (or Battman) must have some pretty amazing Gann abilities to find a valid time cycle recently for the XAO/XJO. None of the time cycles I know in either the weekly or the daily charts are lining up very well.

There is a bit of correlation, but I would argue that the recent moves in the metals and oil, not to mention US bond markets stuffing up the currency markets, have thrown the previous dominant cycles into disarray for me.

So, what is your prognosis? I’d say if we can get a decent close below XAO 4927.8 (12/09 low), we may get a brief rally off this new low if it eventuates, then I’d expect a bearish drive down. If the metals roll over, resources are going to really take a bath…

But, we’ll have to see.


Magdoran

 

[wayneL]

The Vernal Equinox.

Sounds like something you need to take penicillen for

 

[wayneL]

Bronte,


You (or Battman) must have some pretty amazing Gann abilities to find a valid time cycle recently for the XAO/XJO. None of the time cycles I know in either the weekly or the daily charts are lining up very well.

There is a bit of correlation, but I would argue that the recent moves in the metals and oil, not to mention US bond markets stuffing up the currency markets, have thrown the previous dominant cycles into disarray for me.

So, what is your prognosis? I’d say if we can get a decent close below XAO 4927.8 (12/09 low), we may get a brief rally off this new low if it eventuates, then I’d expect a bearish drive down. If the metals roll over, resources are going to really take a bath…

But, we’ll have to see.


Magdoran

Copper is the key IMO.

The banks rising is nothing more than the old "flight to quality".

Once copper, and to a lesser extent the other base metals, break support, it's all over red rover. The banks will get sucked down with the undertow.

I can't help thinking that the ultimate driver is the state of the R/E market. Though an extremey blunt measure, reading between the lines of VI spin could throw off some handy signals.

******************

There! That should signal the commodity market bottom!! lol Back up the truck boys!

 

[Bronte]

Bronte,
You (or Battman) must have some pretty amazing Gann abilities to find a valid time cycle recently for the XAO/XJO. None of the time cycles I know in either the weekly or the daily charts are lining up very well.
There is a bit of correlation, but I would argue that the recent moves in the metals and oil, not to mention US bond markets stuffing up the currency markets, have thrown the previous dominant cycles into disarray for me.
So, what is your prognosis? I’d say if we can get a decent close below XAO 4927.8 (12/09 low), we may get a brief rally off this new low if it eventuates, then I’d expect a bearish drive down. If the metals roll over, resources are going to really take a bath…
Magdoran

Thank you Magdoran, many years of study are paying dividends.
We trade into and out of our Gann Timeframes 19th September was a High.

 

[Bronte]

Todays SPI chart:
Opened on its High
Closed on its Low
There is a bit missing.
5020 Open

 

[wayneL]

19th September was our GANN Timeframe
21/22/23 September is The Vernal Equinox.

Questions:

Why would the sun passing over the equator effect stock markets.

Does the autumnal equinox also have an effect

Does it effect other markets eg grains, metals, coffee, cotton, cocoa etc

 

[Realist]

It got beaten like a cheap pinyata today.

I will be interested to see how the US goes tonite...