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SPX and DAX - CFDs are the place to be

  • #461
  • Aug 4, 2014 4:12am Aug 4, 2014 4:12am
It seems the last week that all the news coming through has been bad news.
Economic news, Europe, USA NFP, sentiment index again this morning, plus with a background of war and threat of war in many arenas, disease concerns (ebola), politics (Scotland referendum, EU etc).

Seems like we need a dose of better news to underpin equities, until which there will be nothing more than short lived rallies.

Dax: A new low this morning got tested but it bounced up again about 40 pips in a matter of as many minutes. We'll see
  • #462
  • Aug 4, 2014 5:14am Aug 4, 2014 5:14am
DAX: i think 9200/9000 area will prove to be supportive today and this week. SPX on the other hand, is due for more drop. My trade plan levels are now coming into play. 1880 and 1865
  • #463
  • Aug 4, 2014 5:21am Aug 4, 2014 5:21am
Also, I think the excessive down moves were due to a number of reasons: geopolitical implications for one, causing risk-off sentiment. Then we had FOMC more tapering, finally taking out the endless supply of electronic cash FED has been pumping into the banking system. And of course, end of month profit taking / new month positioning and fund allocation. When things like these combine, you can get a lot of movement in a day or two. And then, back to the daily grind. I believe the panic is over for now.
  • #464
  • Aug 4, 2014 5:24am Aug 4, 2014 5:24am
Quoting doggette
Also, I think the excessive down moves were due to a number of reasons: geopolitical implications for one, causing risk-off sentiment. Then we had FOMC more tapering, finally taking out the endless supply of electronic cash FED has been pumping into the banking system. And of course, end of month profit taking / new month positioning and fund allocation. When things like these combine, you can get a lot of movement in a day or two. And then, back to the daily grind. I believe the panic is over for now.
That's an interesting analysis. It does feel like the market has oversold, and that when buyers recognise value it will settle. Unusual to have more than 4 down days in a row.
  • #465
  • Aug 4, 2014 6:00am Aug 4, 2014 6:00am
Quoting doggette
Also, I think the excessive down moves were due to a number of reasons: geopolitical implications for one, causing risk-off sentiment. Then we had FOMC more tapering, finally taking out the endless supply of electronic cash FED has been pumping into the banking system. And of course, end of month profit taking / new month positioning and fund allocation. When things like these combine, you can get a lot of movement in a day or two. And then, back to the daily grind. I believe the panic is over for now.
Yes I also believe this is absolutely correct but still see a leg down probably around 9100, if you look at the bigger picture with ECB taking more measures to ease and with talks of QE on the horizon, I do not think it should go down a lot but one need to be careful and assess the situation with good MM. Also with plans of Fed finishing QE in October, there can be a bit of squeeze.

Anyways equity has been overdue some correction and I think this can be seen as that. Hopefully we should be going up soon and don't get stuck at 9100-9200 level for long.
  • #466
  • Aug 4, 2014 8:15am Aug 4, 2014 8:15am
Anyone's looking at 9,175 / 9.150 to go long if we will have on more bounch from that area?
I Don't Like To Talk Too Much
  • #467
  • Aug 4, 2014 9:57am Aug 4, 2014 9:57am
Quoting workingforex
{quote} Yes I also believe this is absolutely correct but still see a leg down probably around 9100, if you look at the bigger picture with ECB taking more measures to ease and with talks of QE on the horizon, I do not think it should go down a lot but one need to be careful and assess the situation with good MM. Also with plans of Fed finishing QE in October, there can be a bit of squeeze. Anyways equity has been overdue some correction and I think this can be seen as that. Hopefully we should be going up soon and don't get stuck at 9100-9200 level...
Yeah, I agree that 9100 should be the level to keep an eye on. Closed half (bit more) and running the rest. About to close the shop for today.
Attached Image
"A handful of patience is worth more than a bushel of brains"
  • #468
  • Aug 4, 2014 10:03am Aug 4, 2014 10:03am
SPX500 See if we can leave this area we going to 1900 easy target. Also got a short on brent crude. CFD's are the place to be!
Still cant post images....
All posts are my personal opinion
  • #469
  • Aug 4, 2014 10:11am Aug 4, 2014 10:11am
Worst performing component in dax today, down 2.37 %
Dax itself down 0.51 %
Attached Image (click to enlarge)
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Hear the music before the song is over ...
  • #470
  • Aug 4, 2014 12:03pm Aug 4, 2014 12:03pm
Today clear deceleration of indiscriminate supply of the past two sessions

but no tangible floor as of yet

overhead resistance 9300 , 9400
Attached Image (click to enlarge)
Click to Enlarge Name: 1DlyDx.png Size: 15 KB
Hear the music before the song is over ...
  • #471
  • Aug 4, 2014 2:05pm Aug 4, 2014 2:05pm
Crazy rally higher there on s&p… on thin volume and a day like monday. So clear that this will be sold off this week.
  • #472
  • Aug 4, 2014 2:23pm Aug 4, 2014 2:23pm
Quoting GlobalMacro
Today clear deceleration of indiscriminate supply of the past two sessions but no tangible floor as of yet overhead resistance 9300 , 9400 {image}
in for a quick scalp:

long off 9208 SepFutures contract
Hear the music before the song is over ...
  • #473
  • Aug 4, 2014 2:41pm Aug 4, 2014 2:41pm
I don't really trade the DAX, neither my broker has it - but today i was watching it, and i have to say: This is quite an interesting index.

Now, i'm trading SPX and probably will do so till December 2014. I still think the correction on S&P 500 has not finished yet, and it might be heading towards $1800 the yearly open. I don't scalp or enter positions on intraday, i'm in the process of building a long position with an open target.

* $1913 has more chances to hold from now, i might add on a retrace for a smaller move targeting a new lower high near / at 198x
"It's the Margin, Stupid."
  • #474
  • Aug 4, 2014 3:37pm Aug 4, 2014 3:37pm
Quoting Rtm
Markets are just going to keep going down for rest of the year, stay short!
Any support for this view or just guessing?
Be water, my friend
  • #475
  • Aug 4, 2014 4:09pm Aug 4, 2014 4:09pm
Quoting spocktrader
{quote} Any support for this view or just guessing?
I rub my crystal ball and tarot card algo
All posts are my personal opinion
  • #476
  • Aug 4, 2014 5:11pm Aug 4, 2014 5:11pm
Quoting Rtm
{quote} I rub my crystal ball and tarot card algo
Got it. Just for curiousity: you haven't got anything to do with readthemarket.com, i.e., those guys who ask traders 10.000€ to teach them forex?
If so, are crystal ball and tarot card algo included in the course fee?
Be water, my friend
  • #477
  • Aug 4, 2014 6:43pm Aug 4, 2014 6:43pm
Quoting spocktrader
{quote} Got it. Just for curiousity: you haven't got anything to do with readthemarket.com, i.e., those guys who ask traders 10.000€ to teach them forex? If so, are crystal ball and tarot card algo included in the course fee?
I thought thats what all traders do? The harder you rub the more likely you get a clearer forecast?! HAHA No no and you are not the first to ask that.. My intials are Rtm that is all.
All posts are my personal opinion
  • #478
  • Aug 4, 2014 10:20pm Aug 4, 2014 10:20pm
Dax
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Money Makes Money
  • #479
  • Aug 4, 2014 10:22pm Aug 4, 2014 10:22pm
Spx
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Money Makes Money
  • #480
  • Aug 5, 2014 12:35am Aug 5, 2014 12:35am
Morning all !!!
The best thing that can happen to you is to find out where you're wrong.
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