Market Outlook

[GrandSupercycle]

galvinlee888

Your long trade was foolish and you are now losing money.
Well done.

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DOW/S&P500 selling pressure increases - after substantial choppy sideways action (distribution) - leg down looks confirmed now. USD strength returns of course.

 

[S2007S]

This is only temporary for tonight, I think this will be nothing to turn around by the early morning opening.





S&P FUT
1313.00 -6.60 -0.50%
DOW FUT
12252.00 -69.00 -0.56%
NAS FUT
2298.75 -9.25 -0.40%
OIL
108.11 -1.81 -1.65%

 

[GrandSupercycle]

Selling pressure continues to confirm choppy leg down.

 

[EliteThink]

next stop 1300.

 

[luisHK]

What disturbs me is the USD not rallying, USD equities and USD both going down don't make for the prettiest picture.

 

[piezoe]

Quote from GrandSupercycle:

MARKET OUTLOOK USING T/A


DOW weekly chart shows a likely risng wedge and my USD weekly and monthly indicators still warn of a dollar rally.

So I urge caution.

Well, the dollar is at 3-year weekly (and monthly) support so please let me know whether support will hold or not, because I haven't a clue. As with LuisHK, I don't see anything yet to suggest that the dollar will rally other than the market reaction which can be wrong of course. (contrary to popular opinion, the market is not always right!, it is only always right in the sense that what ever it does, you, as an individual, are powerless to change it. Sucks.)

 

[Nine_Ender]

Quote from piezoe:

Well, the dollar is at 3-year weekly (and monthly) support so please let me know whether support will hold or not, because I haven't a clue. As with LuisHK, I don't see anything yet to suggest that the dollar will rally other than the market reaction which can be wrong of course. (contrary to popular opinion, the market is not always right!, it is only always right in the sense that what ever it does, you, as an individual, are powerless to change it. Sucks.)

EUR/USD on Feb 2nd 1.3805
EUR/USD now 1.4476

Performance of original trade ( without leverage ) :

-4.9% annualized approx -28%

 

[galvinlee888]

Quote from GrandSupercycle:

galvinlee888

Your long trade was foolish and you are now losing money.
Well done.

----------------------

DOW/S&P500 selling pressure increases - after substantial choppy sideways action (distribution) - leg down looks confirmed now. USD strength returns of course.

So What ? It hit my stop loss in the noon and I just close the position.

 

[GrandSupercycle]

DOW/S&P500 selling pressure continues to confirm choppy leg down on the daily chart.

 

[GrandSupercycle]

DOW/S&P500 bearish choppy daily chart remains dominant.