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Stochastics sitting at overbought territory at the moment, any more upside from here. Looks like the bulls are loosing it?
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38 REPLIES 38
Regular Contributor
agreed....everybody awaiting jobs numbers out of US to get some more direction...but I dont think its going to be good. Feel the markets have had a good run over the past week (with Greece bailout), but reality is the global economy still on a knife's edge....
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A yes true, the question is how far down the road did they kick the can..
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Exited my longs yesterday, and more positive today, no clues for me. I'll stay in cash or rather pick something safer while waiting to see what friday will offer. Thanks
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I have taken a short at 29000 for various reasons only known to my system, would like to see 28750 level but will take profit as we go..I do have a tight stop on this one
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Super Contributor
Bounce on jobs data. +157k
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Frost, don't forget that there is a massive gap still to be filled to the upside from June 1st. We are half way through it
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Thanks skaaptjop, yes I saw the bugger wanting to get filled..just a small short as Im unsure of what the malsi wants to do in the week to come..sideways for now so just trading the range plus we are at massive resistance, ..July August is usually not a nice month for TA..data earnings ect.. so trade with tight stops and expect wild swings..my line in sand is 29050 and taking profit every 100 points reentering at 29000..
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Thanks guys, was on the same boat and nice to see others thinking the same. I also think we are high at the moment, time will tell!
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Nice bit of red today, broken out of channel..gap up this morning closed gap on daily..key levels are 28850 and 28755, not precise levels but a close below these say on the 15min will indicate much more downside..p.s big job numbers out of UsA later..expect wild swings.
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Was short and took my small profits, out now as unsure what news will cause. interesting to hear thoughts. Think it could swing both ways.
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What time jobs report?
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I think if the jobs report is negative close gap at 28000 over the next vew days.Also 61 % retracement of wave 1 of wave 5 up.
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neutral till after data me thinks
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Hell thats some red bar of death!!! 18k payroll!!!
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Oh my hat!! Something, a little birdy, call it what you want - made me exit my long at 28960. Thank goodness! When the futures market gets a little ahead of itself in situations like news releases, or premarket opens, it is usually a good shorting opportunity, or at least a good time to close all longs.
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300pts in 30 seconds - that has got to be some kind of record!
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that was fast! mine went straight through my stop loss but hoping for a small recovery. At least a good buying opportunity!
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Highlighted
Super Contributor
in 2008 the market jumped up over nearly onethousand 500 points against trend in about a minute when the FED first entered the market during the crissis...it then took about another 5 minutes to fall back down to the same level. nearly 3000 points round trip in less than 10 minutes.. ask Chartist about it If memory serves he was short 10 contracts at the time when it spiked up.
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