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aussiebear

World Stock Markets Trading Discussion - Rattling rachets

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All Ords 5-day chart

big.chart?nosettings=1&symb=AU:XAO&uf=0&

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

 

All Ords drifted down for the rest of the day to close -0.5%.  Sectors ranged from Energy +2.4% down to Gold -4%

Over in Asia, China -0.1%, Hong Kong flat, Japan +0.4%, India closed.

A touch of red around in UK/Europe: FTSE -0.2%, DAX -0.1%, CAC -0.4%.

 

big.chart?nosettings=1&symb=UK:UKX&uf=0&

big.chart?nosettings=1&symb=DX:DAX&uf=0&

big.chart?nosettings=1&symb=FR:PX1&uf=0&

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

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Intraday head and shoulders breakdown results in an overshoot of 2 day cycle projection  of 2958 and 3 day 2960. 

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That  bounce came from a support cluster around 2960. Bears need to take that out to get anything going, otherwise bulls in charge. 

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The double bottom this morning could be a 5 day cycle low but the 13 day cycle is headed into a down phase. That should cap any rallies below 3000. Clearing 2974 would signal a 5 day cycle up phase. 

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OK, that was enough to trigger the 5 day cycle buy signal. Now whipsaw time. If it doesn't happen, up  up and away. 

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2958 should not be violated on this pullback. If it is, it will be a colossal failure.  

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3 hours ago, DrStool said:

OK, that was enough to trigger the 5 day cycle buy signal. Now whipsaw time. If it doesn't happen, up  up and away. 

 

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Another 5 day cycle buy signal at the bell. Tomorrow at the open, the 13 day cycle line will be at 2993. If that's cleared, it will be a very bad day  for bears. 

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