$BBUS $BEAR both slow to get going, monday should see a kick with them, theyre a small surrogate, worth tracking
with these instruments i find the entry and exits are best as lags, in other words, when a crowd is chasing an idea/sentiment
they likely have the most activity after a turn (or significant rotation) has already printed in the underlying instrument, so if i see
the xjo make a turns - a resumption to major bull trend - we should expect to see these laggards to have the opposite reaction on the next
kick against that resumption as the crowd thinks/feels theyre now getting more of the same, in reality theyre being trapped in a position
that is contrary to whats actually printing
4pm thru 4.10pm friday
asx cash closed (xjo) at 7403, yet in the SPA the cfd was already printing 10 points adrift, a good signal that
players were already leaning on bids
this morning
the cmc cfd close at 7329,
rarely leave positions open on xjo over weekend, when i shut my platform the construct was clean so left the lots open
the index would have to pop 60 points to take me out, scaling suits this, this is also based on the prior posts on the construct
and channeling, this week we should see some red days, all in the task of the bull phase we're going thru
i have set any targets as we do not yet have enough construct to work with, point to point are useless targets without a construct of reference to provide levels of context
went out on a limb calling for a truncation at the recent pullback high (zone) for xjo, just a question,
it still looks valid, am assigning the validation now based on the lack of impulse since and the clean sell signals printed so far
which lends itself to the idea we have several days n weeks of this chop south
the small operating channel (blue) looks validated too now
likely targets (yellow) i dont place a lot of merit in, theyre part of the ratio reaches common but i think we have different
ballgame at hand, not a significant rotation, more an arduous series of non-events before the uptrend resumes
and the larger channel is not that far away, that itself is a probable cause for action from larger technical players
coffee !
as a reference point this is the $spx