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ALSI

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sponono
Super Contributor
Rams - looks like a close above 29,800 would complete the reverse head and shoulders. the target would be 34,600. what's your take?
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21 REPLIES 21
Rams
Super Contributor
I see the pattern on both daily and hourly charts.The pattern started at around 28/10/2011-fits in with double flat corrective patterns(waves) and accompanied by good volumes.Agree with your projections. But bit concerned that there is not much of trend on daily for this pattern to be "corrective". If does not close above 29800 with good volume should be a triple flat corrective pattern. Elections looming...
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sponono
Super Contributor
looks like the Bollinger Bands are doing what they always do: capping further upside in a side ways pattern.
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Rams
Super Contributor
yes all the technicals seem to conform to a sideways pattern for now...need something big to move up or down....wartalk/elections?
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Rams
Super Contributor
29800 this week?
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sponono
Super Contributor
that would be nca. sideways would be over then, right?
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sponono
Super Contributor
and hopefully EXX can also close above R180
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Rams
Super Contributor
ALSI almost there...lets see if it closes above the 800 level
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Rams
Super Contributor
eh maybe not this morning.
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Rams
Super Contributor
yeah, so that coming when we reached 700....
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sponono
Super Contributor
maybe next time. hey?>?>
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Rams
Super Contributor
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andre20
Contributor
Alsi has not got close to 29800 yet, highest was 29597.
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Rams
Super Contributor
todays high was 29735
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andre20
Contributor
Yes, that was the ALSI futures based on the Top 40. But, to compare apples with apples and resistance levels, you have to look at the Top 40 resistance levels. ALSI futures start trading at about 200 points above Top 40 at beginning of 3 month period and moves gradually to par when futures close out happens.
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Rams
Super Contributor
so when you trading ALSI futures, do you track the TOPI..
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andre20
Contributor
Correct, the TOPI, being the Top40.
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Rams
Super Contributor
okay a misunderstanding, but i track ALSI futures when i am trading ALSI futures.
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Rams
Super Contributor
and you cant compare green apples with red apples...if you buying red apples why check the price of green apples?
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Xan
Not applicable
34600 lol, u got to be joking. Trade the range dude, good resistance at 29550/29650 and at 1288/1300 on s&p, decent short at 29650 gets you 200 pts intraday to 29450. Why are u trying to predict a 5000 pt move when even the best analyst and traders dont know where this market will be tomorrow
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