Short DAX at 7740

Quote from JSSPMK:

yes, I am out of light crude trade. I did ask on ES thread whether higher oil prices need to have a reflection in indices trading lower, I mean higher oil valuation=lower profits in the end of the day, unless busiesses adjust at the same time.
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Of course ! It has negative implications on transportation index within Dow ! But at the same time it supports Oil-related stocks !

And not to forget : it supports also higher import prices and at some point it hurts consumers ...

Second round effects will occur if we stay more then a couple of weeks or month above 80 USD...
 
Quote from ASusilovic:

DAILY ES SMA at 1551.75...it´s up to you to draw your conclusions...:)
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you know last year I believe, there was a similar scenario when 4 hour chart formed a classic very extended divergence, I was waiting for it to start retracing...it did a bit & then train full of bulls went through all resistance levels, hence I have now lost faith in that divergence that I kept posting. Instead, I am looking at the hourly chart and histogram is starting to climb on lower time frames, so yes, ImO we won't head much lower, we haven't already & that means something, doesn't it?
 
Quote from JSSPMK:

you know last year I believe, there was a similar scenario when 4 hour chart formed a classic very extended divergence, I was waiting for it to start retracing...it did a bit & then train full of bulls went through all resistance levels, hence I have now lost faith in that divergence that I kept posting. Instead, I am looking at the hourly chart and histogram is starting to climb on lower time frames, so yes, ImO we won't head much lower, we haven't already & that means something, doesn't it?
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Amazingly enough, lower 60 MIN BB is just running at 7974.00...funnny enough it´s the supporting DAILY 7976 area I talked of in the morning...
 
Quote from JSSPMK:

you know last year I believe, there was a similar scenario when 4 hour chart formed a classic very extended divergence, I was waiting for it to start retracing...it did a bit & then train full of bulls went through all resistance levels, hence I have now lost faith in that divergence that I kept posting. Instead, I am looking at the hourly chart and histogram is starting to climb on lower time frames, so yes, ImO we won't head much lower, we haven't already & that means something, doesn't it?
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completed bullish divergence on 60 minute chart

<img src=http://elitetrader.com/vb/attachment.php?s=&postid=1643455>
 

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