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aussiebear

World Stock Markets Trading Discussion - Tenacious tentacles

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http://bigcharts.mar...com/default.asp

 

 

A joyful jog today with All Ords closing +0.6% led by Gold +2.5%, Utilities +2.1% and Miners/IT +1.3%.  Energy -0.2% was the only down sector.

Over in Asia, China +1%, Hong Kong +1.3%, Japan -0.7%, India closed.

 

 

On to UK/Europe:

 

 

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big.chart?nosettings=1&symb=DX%3ADAX&uf=

 

big.chart?nosettings=1&symb=FR%3APX1&uf=

http://bigcharts.mar...com/default.asp

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 Elliott 5 wave impulsive decline pattern for first degree wave down. it broke 2-4 trendline 

now so we are in first bear market rally. Looks like we consolidate a while in here then another wave up in correction.  As long as a new all time high does not happen the bear market scenario is intact (as far as EW )  This first wave has happened at hyper speed compared to the start of the last two bear markets, it may just be the first of an even larger degree first wave down of a hooooooge Trumpian debt induced crash. Will be interesting to see of the 10 yr yield breaks 3.0 on this rally,inducing the next wave down. 

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Long ES at 2641.25

Stop at today's lows at 2633.

 

Looking for 2655.

 

Trade safe.

 

Sold half at 2648.25 for +7.

Moving stop for the other half at 2639.

 

Will exit the rest if we get to 2655.

 

Trade safe.

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