Cable Update (GBPUSD)

Every large move starts with a little move... Or the first step might be the first step of a tousand step journey... Or...

"Stocks moved lower as investor jitters over tightening credit markets continued and a disappointing earnings report from Wal-Mart weighed on the Dow. "The market psychology is very brittle right now," said Alec Young of S&P. "Right now we should be seeing some signs of stabilization, but we're having trouble getting momentum.""

The TROUBLE ITSELF is getting momentum LOL

Dow will test low from last friday 13057

Don't think it will get a passing grade.

where can i check Dow index?

Wait until it cross friend.

M5 for short term
H4 + H1 for medium term
and daily for Long term

52wk fibo dow jones:

low 11,098
high 14,021

23% 13,348 - cracked, failed to go back above
38% 12,910 - not cracked, well yet.
50% 12,560 - price to buy?

Thoughts?

Well, there's a bottom at 12,000 @ the Chinese meltdown. If that's the case, 13,000 is 50% fibo....

www.nyse.com

http://www.cartoonstock.com/lowres/hsc1650l.jpg

The pressure is there.... DOWN...

And we have a touch down...

I say 13,000 goes today... it's falling too fast across the board...

Dow came with 0.16 of low from friday. We'll see if that holds.

u wait me...1 more...call me crazy

Can anyone tell me why MT4 has no connection?

And there comes all who lost a lot in the subprime mortgage market... and others who lost their houses and now their fear is there loosing in the stock market and loosing the remaining of their wealths... So they wil BAIL THE *** OUT...

Down for the count http://forum.gtarena.net/images/smilies/smiley_rock.gif

"CNBC's Steve Liesman reported that Sentinel Management Group, an Illinois-based money market mutual fund for commodities, has halted redemption in its money market funds. Sentinel said it cannot meet significant redemption requests."

I dont pay attention to EW trading but, what that EW trader on Bloomberg said, is that we will not get to new highs before a third wave with at least 1100 points ends, since the first had 800. (DoW)

So considering the second wave has already happened going to near 13600 levels...

Yes.. that 12500 mark seems to be a pretty number.

But as i said before... i dont care about EW.

EW traders can confirm better if that guy is wrong or right.



By the way... another day they showed on Bloomberg the correlations graphs between Usd/Jpy and stocks, and i found out just like the reporter, that this correlations are not one way sided. Usd/Jpy moves with stocks and... stocks move with usd/jpy variations after the move.

So.. i will be watching that Weekly 100 SMA that has been rulling UJ from some time. 117.64 now. A good breakout sending UJ to 117.00 might not be seen in stocks until the next day.

DOW - 12735 is 61.8% ret of move up from March 14th swing low, but on another fib calculations (from Tom DeMark) next major support is 12508 so who knows.

stocks gonna rally out of the hole today

yen selling is being absorbed atm

"Waiting to sell 12,999. Everything under control!!!"

http://www.buxtonsubaquaclub.org.uk/ds_try%20dive.jpg