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aussiebear

World Stock Markets Trading Discussion - Jittery jungle

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Red across the board for the early openers: Kiwis -0.3%, Aussies -0.8%, Japan -1.5%, Sth Korea closed.

Mostly down for Aussie sectors: Gold +0.5% down to Energy -2.1%, Telecomms -1.4% and Miners -1.2%.

 

 

All Ords

xao_1d.png

http://www.abc.net.au/news/business/

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big.chart?nosettings=1&symb=AU%3AXAO&uf=

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

 

 

Lotsa sellers lurking in today's market..  All Ords closed -0.7% with sectors ranging from REITS +0.4% down to Energy -2.2%, Utilities -1.6% and Miners -1.4%.

Over in Asia, China +0.4%, Hong Kong +0.7%, Japan -1.6%, India currently -0.1%.

 

 

On to UK/Europe:

 

 

big.chart?nosettings=1&symb=UK%3AUKX&uf=

 

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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SP Elliott Wave Update :  Wave 2 appears complete, it hit precisely the confluence where Wave C = 100% Wave A extension AND 76.4 retracement of Wave 1 down. Wave 2 also was time equivalent to Wave 1!  I closed both SPY longs and reversed trade with initial short position.  So far the patterns have been very well defined and if this is Wave 3 down should offer some places to add.  Already the first impulse off the Wave 2 high shows clears 5 wave impulsive structure,  This should continue as pretty sharp move down as 1 of 3. But the real fun will be the 3rd of a 3rd. Still need some confirmations but so far in  EW terms this has  behaved very well. Good luck and trade safe!

post-1925-0-60717600-1519909874_thumb.jpg

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SP Elliott Wave Update :  Wave 2 appears complete, it hit precisely the confluence where Wave C = 100% Wave A extension AND 76.4 retracement of Wave 1 down. Wave 2 also was time equivalent to Wave 1!  I closed both SPY longs and reversed trade with initial short position.  So far the patterns have been very well defined and if this is Wave 3 down should offer some places to add.  Already the first impulse off the Wave 2 high shows clears 5 wave impulsive structure,  This should continue as pretty sharp move down as 1 of 3. But the real fun will be the 3rd of a 3rd. Still need some confirmations but so far in  EW terms this has  behaved very well. Good luck and trade safe!

 

Great chart.

Keep us posted when you think the 3rd of a 3rd starts. 

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The 2600-2690 area is what i call the elevator zone.

You don't want to get caught on the wrong side of the trade.

 

 

post-1444-0-84762400-1519911468_thumb.jpg

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SP Elliott Wave Update :  Wave 2 appears complete, it hit precisely the confluence where Wave C = 100% Wave A extension AND 76.4 retracement of Wave 1 down. Wave 2 also was time equivalent to Wave 1!  I closed both SPY longs and reversed trade with initial short position.  So far the patterns have been very well defined and if this is Wave 3 down should offer some places to add.  Already the first impulse off the Wave 2 high shows clears 5 wave impulsive structure,  This should continue as pretty sharp move down as 1 of 3. But the real fun will be the 3rd of a 3rd. Still need some confirmations but so far in  EW terms this has  behaved very well. Good luck and trade safe!

 

Helpful BB, 3rd of the 3rd *should* put this mess in the first real Bear in 10 years....so so long....

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They're having fun picking off stops today and the past few days. I got smoked.  This is turning into a meat grinder trading range. Great for day traders, death for longer swing traders because of the whipsaws.   

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They're having fun picking off stops today and the past few days. I got smoked.  This is turning into a meat grinder trading range. Great for day traders, death for longer swing traders because of the whipsaws.   

 

At least the market is moving like a market. You know?  Up and down.  Not in those days long forced marches higher.

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