Archive for September, 2010

Thurs Sept 30

30 September 2010 - 12:15 am UTC

Preferred trends (still bullish)
EURCAD
EURNZD
EURGBP

Update: have closed these longs due to bearish intra day signals.
EURCAD
EURNZD
EURGBP

EURUSD gives bearish intra day signal and opposite for USDX.

The (bearish) rising wedge scenario for DOW etc. may be confirmed
soon unless we get more market intervention inspired short covering
rallies.

Update:
SP500,DOW,NASDAQ,FTSE,DAX futures intra day charts give bearish
warnings but will wait for confirmation as signals remain choppy.

Update:
Long EURGBP again, daily and weekly are still bullish.

Update:
SP500,DOW,NASDAQ,FTSE,DAX intra day bearish warnings return,
now that today’s short covering spike has finished. The rising wedge
on daily and weekly chart looks ok so far – is bearish when
confirmed.

XAUUSD intra day and daily overbought warnings have increased,
was 1316 an important top for this leg ? Will post a chart.

Today’s market movements are important – more later.

Tues Sept 28

28 September 2010 - 4:57 pm UTC


DOW daily charts Mon Sept 27 inclusive showing rising wedge
scenario.

Mon Sept 27

27 September 2010 - 9:29 pm UTC


SP500 Financial Index weekly chart Fri 24 Sept inclusive shows
this important index is basically flatlining and hasn’t been bullish
for some time.

Fri Sept 24

25 September 2010 - 12:08 am UTC


DOW weekly chart Fri 24 mid session showing rising wedge scenario.

Fri Sept 24

24 September 2010 - 10:40 pm UTC

Due to another short covering rally SP500,DOW,NASDAQ,FTSE,DAX
intra day charts are bullish to neutral and daily is neutral.

Preferred trends:
EURNZD
EURCAD
GBPAUD

Thurs Sept 23

23 September 2010 - 6:43 pm UTC

Yes, short signals detected yesterday have now increased for
SP500,DOW,NASDAQ,FTSE,DAX futures. Intra day charts are
bearish and daily are neutral. DOW futures last price 10650

Trending well atm:
EURNZD
EURCAD
GBPAUD

Wed Sept 22

22 September 2010 - 2:08 am UTC

Gold [XAUUSD and XAUEUR] gives some bearish warnings – daily
chart is very overbought but need to do more analysis on this.
XAUEUR daily is bearish and weekly is neutral.
XAUUSD analysis later.

Update:
EURGBP / EURCAD daily and weekly trends remain bullish.

Update:
Short covering spikes yesterday aside, today the downtrend signals
once again that it wants to resume and my NASDAQ target was
spot on so far… and is now looking shortish.

Update:
DAX 240 min chart gives bearish warnings @ 6224

Tues Sept 21

21 September 2010 - 11:20 pm UTC


EURUSD 8 hr chart close up suggesting impending breakout of triangle.

Have just realised that NASDAQ reached my 2360 target on
Sept 20. So NASDAQ daily chart is due for a retracement …

Tues Sept 21

21 September 2010 - 3:49 pm UTC


EURUSD 8 hr chart showing price bouncing off resistance on the
downward sloping trendline. Price is now converging and potentially
bullish: maybe due to QE expectations.

Similar to a few years ago, conflicting market signals can be caused
by market intervention or rumours of market intervention in addition
to the ongoing market dislocation and uncertainty.

Long term monthly EURUSD chart continues to give bearish warnings
and opposite for USDX.

Update:
Long EURGBP: daily chart is bullish and weekly is bullish to neutral.

Mon Sept 20

20 September 2010 - 9:35 pm UTC


DOW weekly chart Fri Sept 17 inclusive showing megaphone wedge
and key resistance around 10,700

Have been away from charts again.
A brief reminder: short and medium term trends have been choppy
and conflicting due to the longer term monthly trend going
sideways. This is called distribution and is bearish. It’s the opposite
to accumulation which is bullish.