It's an impressive recovery from its lows. We haven't seen such huge swings in a long time. The DJIA bounce was even stronger, though still have to see if it turns slightly greenish. Who would've expected that,,,
Even the White House is giving a briefing now, perhaps this will reassure the markets today and tomorrow. Still waiting on China though.
Well i had my quickest profit in history. 5 seconds lol {image}
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Nice One
Here we were few weeks back - trading range of 150 -300 points a day and could carve out a nice profit - now get that in 4-5mins. freeking annoying - until the VIX gets back below 20 I assume we can expect much more of this...
Does anyone know during which period the Ifo business climate was taken? I guess the ones that would have been surveyed yesterday would have been several magnitudes gloomier than the ones that responded in the rather sunny days of early August.
The rally is more about sentiment after the US and Asia sessions that signaled some sort of relief and disassociation from China. There's also more confidence the rate hike is off for a few months. 10000 will be a nice psychological barrier to break today and also technical Fibonacci Daily R2. I guess 10200 will be quite a stretch for today. I remain cautious until next week, we still need to wait on US GDP and Durable goods numbers.
{quote} Doesn't look like enough I am afraid, rate cut by end of the week I expect as the market still struggle to find a floor - I will try a trade off the overnight low of 9614 when the US market opens and slaps this market back down again. however I just feel as if there is a lower low this week - could be wrong - low may be in as of today... if not, then 9500 - 9614 range, and a break of this range would probably mean low 9000 - this week and fingers crossed a bottom for now... bounce back to 10000 + over September and then more down into end...
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Well here is the PBOC rate cut after they killed everyone yesterday... BLAH BLAH.. Now US rethink US rate cut.. BLAH BLAH - after every retail trader that had a stop on got raided yesterday in flash crash - Seriously this must have been one of the biggest market scams for years.. and who called who on the weekend to ask the PBOC to delay the rate cut by 1 day. desperate measures by desperate people to steal from Jo public.
@atraderfx I think your prediction is plausibe, that we're going through a short bounce before China fizzles into recession dragging the rest of the markets with them.
I also think the PBoC didn't want to do the RRR cut and interest rate cut initially, because that one sparked a huge selloff last time. But after seeing that the Chinese markets crashed the last 2 days initiated the same recipe. But I'm sceptical if that'll work if it didn't last time.
@atraderfx I think your prediction is plausibe, that we're going through a short bounce before China fizzles into recession dragging the rest of the markets with them. I also think the PBoC didn't want to do the RRR cut and interest rate cut initially, because that one sparked a huge selloff last time. But after seeing that the Chinese markets crashed the last 2 days initiated the same recipe. But I'm sceptical if that'll work if it didn't last time.
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it is possible we have seen the initial crash like in China equities then rally and then back 50% - then a small bounce then crash lower and lower to the Apr-14 level - so if the US markets follow suite then it would mean that the SP500 would trade down at 1750-80 range in 1-2months time as a floor, rally and then possible new low into Christmas - 1650 SP500 possible.. heck who knows. .... as the China crash started in April it has taken 4months.
Short DAX at 10176 - out +80 (while writing this - LOL) damn should have kept it for 10050 range - done with this crap shoot show for today.
this pop was a great short entry opportunity. Hopefully everyone shorted here from this point. Today should be another bloody day although not too bloody.
this pop was a great short entry opportunity. Hopefully everyone shorted here from this point. Today should be another bloody day although not too bloody.
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The Dax futures are edging up during the Asian session which is surprisingly muted. Dax recovers from 9800 to 10000, on its way for a neutral opening instead of a big drop. We'll need to see if the Chinese indices hold after their munch break.
Oil is also rising but I expect a drop after the oil reserve numbers at 16:30 CEST, the pattern of the last few weeks.
this pop was a great short entry opportunity. Hopefully everyone shorted here from this point. Today should be another bloody day although not too bloody.
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I shorted the top and yesterday and annoyed that I got out yesterday with +80 and should have kept the short - Looking again today for same or similar scenario. looks to me that some more market down to let the punters get in again at lower levels that they missed on Monday.
{quote} I shorted the top and yesterday and annoyed that I got out yesterday with +80 and should have kept the short - Looking again today for same or similar scenario. looks to me that some more market down to let the punters get in again at lower levels that they missed on Monday.
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Short 10054 - lets see if this hold and the DAX falls back down under 10K and stays below for the rest of the day
Carpe diem: Intraday tactics for Dax and Dow
