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.
Friday, 25 October 2013
Ftse
The chart I posted yesterday had not updated.Here is correct chart
Certainly, the FTSE is weaker than most of the other world indexes (I guess we can blame Cameron/Clegg partly for it), but its pretty close to a major breakout.
The current monthly candle is powerfully bullish. Any close in the 6700s would be enough to offer further upside into Nov/Dec.
Baring a swift reversal across Mon-Thursday, the FTSE is going to close October with good gains of 3-4%.
well the indicators are overbought and a pullback here could reveal this breakout to be false but I agree the monthly candle is strong. But 9000 Dax is key for me.I have a hard time believing it wont be a top given the Gann harmonics
The American Medical Association has weighed in on Obama's new health care package.
ReplyDeleteThe Allergists were in favor of scratching it, but the Dermatologists advised not to make any rash moves.
The Gastroenterologist's had sort of a gut feeling about it, but the Neurologists thought the Administration had a lot of nerve.
Meanwhile, Obstetricians felt certain everyone was laboring under a misconception, while the Ophthalmologists considered the idea shortsighted.
Pathologists yelled, "Over my dead body!" while the Pediatricians said, "Oh, grow up!"
The Psychiatrists thought the whole idea was madness, while the Radiologists could see right through it.
Surgeons decided to wash their hands of the whole thing and the Internists claimed it would indeed be a bitter pill to swallow.
The Plastic Surgeons opined that this proposal would "put a whole new face on the matter."
The Podiatrists thought it was a step forward, but the Urologists were pissed off at the whole idea.
Anesthesiologists thought the whole idea was a gas, and those lofty Cardiologists didn't have the heart to say no.
In the end, the Proctologists won out, leaving the entire decision up to the assholes in Washington.
hey CR.
ReplyDeleteCertainly, the FTSE is weaker than most of the other world indexes (I guess we can blame Cameron/Clegg partly for it), but its pretty close to a major breakout.
The current monthly candle is powerfully bullish. Any close in the 6700s would be enough to offer further upside into Nov/Dec.
Baring a swift reversal across Mon-Thursday, the FTSE is going to close October with good gains of 3-4%.
well the indicators are overbought and a pullback here could reveal this breakout to be false but I agree the monthly candle is strong. But 9000 Dax is key for me.I have a hard time believing it wont be a top given the Gann harmonics
ReplyDeleteI really thought 1745 would stop the S&P but this could be an overshoot
ReplyDeleteI see your Gann Harmonics.... and raise you QE of $85bn a month..every month, until the end of time.
ReplyDelete-
10% correction minimum....mark my words :-)
ReplyDeleteInteresting that no one mentions the dollar soars ^any day now and how that effects the markets.
ReplyDeleteThere should be a rule of thumb for those tight bottom right hand corner wedges. http://stockcharts.com/h-sc/ui?s=uup
ReplyDelete