This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
Tuesday, 4 September 2012
Ftse
Although the weekly evening star pattern is bearish bears need to be a bit careful here.Maybe a "Draghi bounce " from support here ?
Fugly day today. Second backtest of the upper triangle boundary / IH&S neckline? Right down to and bounced off the 200dma. Uptrend trendline still technically intact. But there is NOTHING at all on the momentum technicals that I like other than a minor bullish divergence on the oversold Stochs, and that ain't near enough to get me goin'. On the other hand, late trend continuation buys often happen on spikes lower with little or no help from the technicals - high risk stuff.
Nice article here http://solarcycles.net/2012/09/04/final-quarter-2012/ mentioning the "confusion in assets, indicators and analyst calls". He's mentioned this various times in the recent past, mostly with regards to sentiment readings, but also with other indicators. In so far as the analysts go, the 11% of hedge funds exceeding the SP500 return speaks for itself and is well known. Tough markets to trade translate into reduced risk.
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Fugly day today. Second backtest of the upper triangle boundary / IH&S neckline? Right down to and bounced off the 200dma. Uptrend trendline still technically intact. But there is NOTHING at all on the momentum technicals that I like other than a minor bullish divergence on the oversold Stochs, and that ain't near enough to get me goin'. On the other hand, late trend continuation buys often happen on spikes lower with little or no help from the technicals - high risk stuff.
ReplyDeleteIm pissed,I shorted FTSE at the close last night and covered this morning.Its really hard to get the rhythm of this market.
ReplyDeleteNice article here http://solarcycles.net/2012/09/04/final-quarter-2012/ mentioning the "confusion in assets, indicators and analyst calls". He's mentioned this various times in the recent past, mostly with regards to sentiment readings, but also with other indicators. In so far as the analysts go, the 11% of hedge funds exceeding the SP500 return speaks for itself and is well known. Tough markets to trade translate into reduced risk.
ReplyDeleteInteresting,thanks High Rev
ReplyDelete