One point here also....With most of the western world, could even say the whole world effectively shut....

i don't think the markets will bottom until we have some sort of medical breakthrough...it could just keep hitting and breaking below support level after support level imvho...

atb,
trendfriend

Well was i looking at this just now(can't resist!)
Things always look much clearer if there's no pressure of actually trading it!

dow - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...ljpaReB/+rUZEsYaVVs=

Is that a bear flag which we broke below today??
Very close to this key 18,000/18200 support area...
OK, Its not very clear....so what about the ftse and dax?

ftse-daily
uk.advfn.com/p.php?pid=chartscreenshotsh...zreByRCmnsQe9snjU%3D
pretty clear bear flag here....imho..

Dax - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...%2FICR3FMqxK74TdA%3D

again to me that's a pretty much a bear flag...
sometimes it can be a fine line between bear flag and a bottom and rebound....but it has to be said all of these indexes are still making lower lows.....

I think a break below 18,200....or make it 18,000 to eliminate doubt....with some kind of gap type technical event....could well be the momentum trigger for the next leg down on all the markets imvho...

atb, wdik, dyor,
trendfriend

I lost 2 k in 2 mins....lol...I was short and stop was miles away and then the feds made the announcements and it took my shorts out.....then it went lower than my initial entry....which was painful to watch... I also lost 1k on longs which I took after my shorts were taken out...so double double whammy for me today...very painful....
So now just on the sidelines watching the markets go lower as don’t want to give any more money back today so taking a break for today as lost too much in one day...Will continue tomorrow as it will be a fresh day and emotions will be in check..

How about this for a wild ride....

The Fed effectively promised unlimited support and the market punishingly turns its back.

Jeez it’s been while, Hope u gals n guys are all well and safe in these turbulent times...

As for the Markets, Stay calm, don’t over leverage and be sensible.

I will post a chart later this week for what’s is worth, I like 18156Dow.

Tech is lagging would really like to see below 4646 dailyclose, key us market will all align to confirm the bear. Nas, spx, and Dow

Bottom line as I see it - major 1 at the top, that’s my preferred view anyways, current in m2 bear, with an outside chance of this being cycle top correction , either way line in sand lowest daily close in feb 2016.

All imho.
take care

Ws

I’ve closed my longs on the Dow....
Gone short but may sit on sideline due to witching ....very crazy volatile trading today...

I’ve noticed a bullish pattern on the Dow and even ftse...
The Dow, if it breaks above 20500 it could signal a possible move of 1500 points higher to 22000.....
The pattern is a rounded bottom....it’s clear to see on the hourly...
Ftse 100.... has similar patterns in different time frames as well...rounded bottom on 1 hour and also 5 min....
The main trend is still down so bear that in mind ,also due to corona virus it’s kinda risky going long .
I will be going long as I always watch the markets and will be ready to close my longs in a hurry..
Also bear in mind it’s Friday and I would not be holding positions during the weekends due to corona virus...







Also it’s triple witching day today...loads of shorts contracts will be closing out so may add to bullishness ....

Well, we got back into the 18000s today but with quite a strong rally into the close. Lots of support around the 18000 level which coincides with the 50% Fib:





Whatever you do, be careful.

remo wrote:
Exactly Remo - The problem is, all the stimlus packages smell of panic and cronyism.

With regards to "our" government - they need to take a leaf out of Trump (werid I know!) and just give the cash to the people directly.

why? well:

1. We the people bailed out the banks a decade ago, and a fat lot of good it did for everyone (decimated the health and justice systems to name a couple of issues!)

2. A universal "cash drop" won't discriminate. Think about it, you'll give a mortgage holding landlord relief, but won't give a rent payer (who actually might need it more perhaps?) any help? That's messed up.

And I speak as a guy that can retire now, some 30 years before I have to (not that I want to), but I can't live in an ivory tower whilst fellow human beings - through no fault of their own - get ripped to shreds - again.

This stimulus package can be exploited - dangerously. We've recently had non-tax-paying billionaire luvy Branson asking for a bail out (from the tax payer), as he put his staff (i.e. tax payers) on 12 weeks unpaid leave.

Just my two cents (in the wrong forum I guess!)

I'll go back to my cave, trading fish and chip money

The Dow has resumed the down trend again...lol..
Every time the Dow makes a huge day gain, the next day it seems to reverse with more power..it’s like a pattern...lol..

There were tons of stimulus packages around the world today so hence the markets bounced a bit.

Even our government joined in for once, even thou late to the party.. ...Busineses getting 330 billion in loans backed by government..Thats 25k per business......sounds good but still a dept thou......I like the 3 months Morgage freeze for everyone...Let’s hope they do that as that will help people a lot....they should throw in free council tax for the rest of the year as well....lol...

doh....of course Libero...sorry...my bad(like my son says to me!)

Trendfriend wrote:
You mean Libero.

(I mean I know all internet nicnames might look the same, but....)


Cable is playing out nicely - will look to buy some sterling soon.

brilliant Libero...i like that

Did you take on Cable??...hit 1.20

i missed...so not chasing now....

Maybe go short if it breaks below 1.20....lets see...

atb,
trendfriend

I got my fish n chip money for the afternoon.

"He who hits and runs away, lives to fight another day".

It doesn't always have to be a big / massive amounts - I'm content that I've got my capital and a small profit. Don't forget, for this £40-odd quid, I had to stake over a grand.

IG ain't gonna get me, but I'm going to juice them slowly.

I wish everyone the same and better.

phew...
the indices are actually a blue colour today ....how good does that look then??...

it feels like i have just seen the northern lights!
(may well look to see some nice places to get short later on tonight)

atb,
trendfriend

wow...wow..wow...

These markets are like West ham utd...can't buy a win atm...

Without doubt "the fear is here" and its very real...
So many stocks at key levels...its shocking...and the potential here for things to get very very nasty now...

Amazing things no one wants stocks, no one even wants gold...
Just cash....and even that only dollars!!

atb, wdik, dyor,
trendfriend

Main trendline running from 2009 main low through 2015/6 correction low broken today on close. Will it backtest tomorrow at around the 20860 level?

Looks like the dow, closed below the trendline.

Where will this open today?? 2000 points down or 3000 points down!

Perhaps more importantly where will it close?

atb, wdik, dyor,
trendfriend

Looks pretty desperate form the Fed imvho...but then these are desperate times...
If this was a financial crisis then it may have had an effect...but this crisis does seem unique in that nothing like it has been experienced by the these markets in history imvho...

The dow looks suspended....and that will nit help the panic...seems as though the supermarkets is not the only we have panic atm...oh dear...
Some US cities shut down...A lot of Europe is shut down...Uk most likely will follow...

I thought 18,000 dow may well be the low...this now looks far worse....if 18,000 fails...nothing to stop a slide to around 15,000

stay safe all...

atb, wdik, dyor,
trendfriend

AdeMcG wrote:
The markets have made up their minds that this fall needs to be flushed out before we base and start again.

This isn't about markets, or prosperity, this event is "real lives" (whatever that means), the world over (we know what that means!); so, one might say that FED dropped rates too early the first time, and this is an attempt to resolve things.

However, we know that monetary policy without sound fiscal policy ain't going to do jack.

Trump may or may not be toast - after all, if he's up against sleepy Joe, he's got a good chance.
I have to say though, it would have taken a Global Pandemic to defeat Putin's Agent Orange - in a democracy.

Think about it.

As I type Dow Futures are 1150 points or so down, the FTSE is looking to about 30 points to the good. Cable got some juice back (well a rate cut like that has to do something - but I don't think it's enough - I reckon Cable goes back to 1.20 - but that's for another thread).

Be Safe Folks - not just in the markets - but in life and with your loved ones.

Futures down nearly 5%
Kitchen Sink thrown at an issue it can't help = panic
Trump is a dead duck

Big news just now.. 0.7Tn of QE and zero interest rates, plus a load of other banking restrictions lifted. What's this going to do for the Dow tomorrow?

The Dow seems to be doing this quite a lot recently, it flys up just before close only to tank after market hours (also called the taliban hours). It generally sucks in the buyers only to cane them after market hours - wonder why this is happening - i think its traders just closing the positions before new ones are opened (all on the short side)

Yes it was the trendline i was talking about...but not the standard trendline...connecting the bottoms...which off course is perfectly good t/line....
I'm drawing the main t/line differently...Not competing in any way here...or anything. like that...i just think this is is a better trendline imho....
Yes it has a bear trap break the t/line in 2016 ...but that break still held the 200 day ema line....so the uptrend remained....but wdik....

I think that rally into the close on Friday...was a retest of that t/line...although it did close a tad above it...with these big moves....a bit tolerance should be allowed...

dow -weekly.
uk.advfn.com/p.php?pid=chartscreenshotsh...UYA4wPXePkpvcruvyXk=

close up...
uk.advfn.com/p.php?pid=chartscreenshotsh...JKE397jWjfBUaoOxTes=

So its come back and even closed above....and now going gap back below!!
In any case as things look atm... the gap down on Monday will quite possibly be so big it may open below both trendlines...

even though it will open strongly down...i do think last weeks low will hold...and this could consolidate a tad this week...before heading lower again for another leg down....so lets see...
dow - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...MpYCWlAX1zrumduofEM=

atb, wdik, dyor,
trendfriend

Weekend Futures.....

Seriously Down.

Get Ready!

Yep it held nicely during market hours....but did go through pre-market and went down 500 points lower...lol...
This weeks coming should be crazy, as I’m sure the down move will continue as America are doing more test so there real figure may suprise them and if it does then it can turn..

Uptrend line held?

Hi TF,

Glad you're well man.

On the Dow....

I've had a brief look just now - Death Cross coming? and hardline on the RSI?

(see chart)

Hi all...
Just catching up with the days action...another crazy day i see....

Something very interesting on the technicals took place on the dow today....anyone else noticed??

atb,
trendfriend

Very strange on the Dow futures...it’s been suspended for a few hours now....but suspended on a 5% rise , normally they suspend when it’s down by 5%...
I had a perfect long activate at 21000, ,,,,then got bailed out...doh,,,,Now just watching from side lines as unable to trade the Dow due to suspension....pain...

Well my long went really well...
that's the second stop out...(good job i had a stop tbh)so while i have done quite well during these moves...i'm gonna take a little break...
I don't want to short anymore....because its already come off a lot and will rally back at some point soon...at the very least for a dead cat relief rally.....

anyway back to the charts...
dow - daily...
uk.advfn.com/p.php?pid=chartscreenshotsh...Sjc%2FTQeBfFHP7CU%3D

In all honesty i would draw the trendline like this(just me... wdik)....so we busted that t/line at the open...worst still we gapped below it... maybe that was the momentum trigger for these big moves...

The strength of this p/b seems extreme...i thought we would get to 18,000 for a bottom....this looks like it could far more ...the dax is at 9000 currently!!....

This is just crazy....is this virus really going to be that bad???

Whats even more crazy is with these big moves gold usually rallies...even gold was down today!! maybe just consolidating....but strange none the less...

be lucky folks...
atb, wdik, dyor,
trendfriend

I see The main trendline from 2009 & 38% fib support shown above on the monthly chart are both near where we are, surprised how quickly the down moves have been

38.2% Fib of the entire run up from 2009 low is at 20750. Main uptrend support (if there is such a thing as support at the moment) is at c. 20820 tomorrow. Having said that there's no point trying to be too precise as the volatility is totally nuts.

dow - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...ONbNobOhER60v4LEjN4=

strong support at 21700....now it has come back above that level....it should hold imvho....for a rally before the next leg down....but wdik...

atb
trendfriend

just gone long at 21711.
stop 300 for now!


biggy so wish me luck....bullish div on rsi...so due a bounce imvho...

atb,wdik,dyor,
trendfriend

Just had to close all my positions on the short side ...as just looked and the market just rebounded over a 1000 points ....
This was happening while I was typing...lol...
Dam....that will teach me to post while trading...dohhh...

Libero wrote:



Yes you can short this crazy market, I’ve been doing just that all day long...
But it requires constant looking as the swings are pretty crazy and will need to monitor
I’ve been using 5min and 1 min charts to short....longer time frames are to hard for day trading as the moves just don’t show up clearly on the hourly..
I’ve been shorting based of lower lows and exiting when a higher high turns up...pretty intense thou as can’t leave positions on for too long un monitored
The hardest thing now is when to close some of my shorts from the other day to bank some serious profit...
Right now I’m just adding shorts for really short term trading and may leave some of my bigger shorts open for a tad longer..
So basically banking my day trades but keeping longer term shorts still in play...

interesting times (again!)

Can we even short this market - IG was having problems with logging in a few times....

In any case, stay safe people - and dare I say, some stocks look good for picking (or at least watching!) - not all of them find a base at the same time an index does.

wow

this has effectively gapped below 21700....which was a key support level...
it now looks like the US market has been suspended...

this is going down....way down...

18000 door has been opened imvho...

atb
trendfriend

It’s going to be a crazy day again....
I’ve added to my shorts on Dow and expect the main trend line to be tested very soon...That’s at around 21000...it may even get tested today lol ...
I’ve been trying to trade both ways in the markets and have got burnt in the process...doh....Now I’m just going to short on any ralllies and try and build up short positions......As my previous methods have clearly not worked as well as I thought it would...so stick to trading the trend.....
I will go long on a first attempt of main trend line while having shorts still open if it gets there just Incase....I don’t want to be out of my shorts for the time being as media are now telling everyone it’s a bear market...They are always late to the party so people will really start to panic...

Take care and be safe.....
Ps....stock up on dry foods just Incase the worst happens....

Wow...

big move yesterday....and today looks like it could be the same....suddenly that 21700 looks to be in sight....
dow - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...QfsY5PkF2GzrNf6Qiy8=

have to see how the rsi is looking at dow open...but at this moment we do have a bullish rsi divergence...
so i may take a long on at 21700...with very tight stops....which is against the trend...but lets see...

atb, wdik, dyor,
trendfriend

dow - weekly.
uk.advfn.com/p.php?pid=chartscreenshotsh...7zHWe1aIkxBcme9WrZw=

side stepping this today....especially after yesterday roller coaster day...

looking to get short buy only if get below 941....and restest and hold below imvho....
i think we will spend another day or two bouncing of that area....and then a big move straight down to 21700....but wdik...so lets see...

Maybe tomorrow, Friday or Mon....a big down day...coming soon imvho...

atb, wdik, dyor,
trendfriend

Looks like a 1-2-3 low, is forming on the hour chart.

Can’t post a chart, till morning.

doesn't look to be in the mood for gap filling today....

So looking at shorting into weakness....so 23930 the 200 day ema line on the weekly....if we go below that i'm order to short there... with a stop above todays high

with a second short at 23705....yesterdays low...

lets see..

atb, wdik, dyor,
trendfriend

Links are working fine for me

could you check as Your chart link is not working for me, thanks

dow - daily. *sorry... this link should work*
uk.advfn.com/p.php?pid=chartscreenshotsh...8gYYEdzD7PxWp83QUZQ=

surprise rally??
suddenly the virus is not so bad....
i think a few stops got smashed overnight! that's why i think always bank on dow after a big move...

that 200 day ema line feature on the weekly chart is always going to tough to break....but i do think at the very least this will have another crack at it...

looking to short at 25224...gap fill...during market hours...with tight stops...
lets see...be lucky all...

atb, wdik, dyor,
trendfriend

something really interesting took place on the dow today....and it seems no one has picked it up so far..

dow - weekly.
uk.advfn.com/p.php?pid=chartscreenshotsh...uqbSc43yLq9kdY6dZZg=

see the 200 day ema line on the weekly chart? when was the last time we broke below it?
well it happened today!!

closer look here.
dow -weekly.
uk.advfn.com/p.php?pid=chartscreenshotsh...KbEdHH05GVNZB6KSo%3D

It could be a bear trap right....a small dip below....catch all the bears out and up we go...
so a break below the next key support is (for me) the key...so 21712 needs to get taken out to confirm the bear market.....not just another correction imvho....

if that number goes....i posted at the start of this fall that the broadening triangle has a target of 18,000/18,500.....and i think that could well be the bottom of this fall imvho....but wdik....

one more quick point 21712....worth a long with tight stops....possible relief rally there....before down again imho...(very tight stops)...

be lucky folks and stay safe
atb, wdik, dyor,
trendfriend

Medium term trendline broke today. and its a biggie as this goes back to 2016 . Next is the main trendline from 2009 bear market low and that's hovering around 21000 for the dow.



Bear markets normally head towards 50- 61.8 fib levels. and key levels of fibs are at

24131 (23.6%) Hit already....
20737 (38.2%)
18035(50%)
15300 (61.8%)