Alsi Setup

[#1]

I think this is a setup 20000 is on the cards. But i still think we are going to turn soon

[_nova]

You could be right. I'm watching the EURUSD as lately it's become an amazing leading indicator of where the DOW is going to follow. EURUSD has broken down from a steep up channel around 1.3050 and now in the middle of a less steep up channel (on the 60min). Targeting 1.28 which is the bottom of the channel. If that breaks then the DOW goes into freefall. OMO

[_nova]

1.30 breaks but 1.2960 to 1.2980 putting up a big fight. This thing is getting momentum and I risk a prediction that we'll see 1.28 pretty soon. DOW will range around 9200 but will start dropping if 1.29 is reached. And that will spill over to us within minutes. OMO

[#4]

I believ we'll go down from here. Maybe a drop in the next day or two could be the formation of a right shoulder for an inverse h&s on the alsi.

[#5]

the market feels weak to me, no more vooma left...

[_nova]

1.2950/60 holding for now. Below 50 and it's a fast leg down to 1.29 and probably faster to 1.28. DOW will then drop 200 to 300 in short order. Alternative if EURUSD bounces from 1.2950 then the DOW will range 9200. I think this is going to be another of those classic ambushes where the move only happens after our market and Europe closes.

[_nova]

1.2950 breaks. I reckon we'll see a quick leg down to 1.29 and the DOW will follow. OMO

[venice]

How was that after the bell trading, moving at a 100 points a second off the fricking hook.

[#9]

told you, no vooma left here... lucky i was short in the last hour. I'm thinking we'll drop like a stone tomorrow no matter what the DOW does.

[_nova]

well I got my EURUSD short ride right to the channel bottom at 1.28 and the the EURUSD bounced so for now the up channel is intact. If it reverses and 1.28 drops then the DOW will accelerate in a downspin.