DOW

Ronmould wrote:

Libero wrote: Hey folks,

I've got a short bias only because of what's going on right now. I also have a sneaky "feeling" that Trump will a second term or Biden wins the White House, but Republicans will retain control of the senate. Both scenarios will annoy the markets for the short term I suspect. Who knows!

N.B. link to chart won't show the gaps discussed, only the trend-line.

...I was pondering if we could see wave C play out before the election and then overnight between voting and results would see the bottom come in.

Hey Ron, hope you're well and keeping safe.

I don't know much about waves to be honest - where do you see Wave C heading?

Also, the election is a big factor (when the markets want it to be), but there's the small matter of rising cases and hospitalisations too, and resumption of trade wars et al....

But on the election itself, Biden is "tipped" to win (I'm not convinced - and i have noted early voting numbers). The senate remains a GIANT prize, and only 1/3 of the seats are up for grabs.


VIX and DXY time!

Libero wrote: Hey folks,

I've got a short bias only because of what's going on right now. I also have a sneaky "feeling" that Trump will a second term or Biden wins the White House, but Republicans will retain control of the senate. Both scenarios will annoy the markets for the short term I suspect. Who knows!

N.B. link to chart won't show the gaps discussed, only the trend-line.

...I was pondering if we could see wave C play out before the election and then overnight between voting and results would see the bottom come in.

gaps

Hey folks,

Really good to see you all involved! (I do miss the old days of "speed-trading" via the chat room, but this will have to do for now! )

I've attached my daily take of the Dow - respecting the trendline and pointing out visible gaps (will they ever be filled?) - let's see!


Hig-Res Dow Chart

( www.tradingview.com/x/hFzWcUAO/ )

I've got a short bias only because of what's going on right now. I also have a sneaky "feeling" that Trump will a second term or Biden wins the White House, but Republicans will retain control of the senate. Both scenarios will annoy the markets for the short term I suspect. Who knows!

N.B. link to chart won't show the gaps discussed, only the trend-line.

I expect the gap to be filled up before we see more selling resume and revisit 26,724 area.

Please note that a rebound is possible after the gap area is filled up so watch for bullish or bearish signal before you take your next action. Sometimes, we let our initial wins and become a little over confident.

A look at the Day chart would tell you that the main trend line is still super bullish so this is a short term sell ONLY.

bang bang i shot the dow,. bang bang 27200 watch if below 27523....