Alsi Today

[#1]

Dow futures are building up..........

[HateGauteng]

What time is the options close out in the US?

[#3]

No idea, but look how the ftse recovered now !!!

[#4]

Hey all the alsi traders.I have 2 Elliot wave counts for the medium term for the dow jones.U can call the one the bearish count and the other the bullish count.At the moment because of the recent wave structure i am starting to to think the bullish count is starting to play out.Al depends what will happen today and maybe tomorrow. The bullish count. ----------------- On the 4 hr graph of the dow draw trend lines of the recent highs and lows.U will note a possible ending diagonal in play, and at the moment we are in wave 4 up of the diagonal.This wave should end at about 10300 to 10330 for the dow.We then go down in wave 5 of the diagonal to just below fridays low.(the bottom trendline at +- 10090 also the 50% retacement level of the previous diagonal up.)This will be the end of the diagonal and we then start a new impulse wave 3 up and maybe making new highs in the coming months. Note.Breaking of the top or bottom trendlines will negate my bullish view and bring the bearish count into play. Verskoon my engels ek is afrikaans sprekend.

[HateGauteng]

Thanks Christos, Morning everyone. Nice gap today!

[earlyret]

Morning....looks like it.

[HateGauteng]

Long after the gap close?

[earlyret]

will wait n see

[earlyret]

closed nicely!

[HateGauteng]

To long or not?

[earlyret]

hmmm, that is the question. Got enough for today. gonna sit it out till this afternoon.

[#12]

go long to 10300 then wait for the short.

[#13]

Christos. Do you think it will make 10300? I am thinking more at 10270 - 10275 to be res and pivot point. Your thoughts?

[#14]

It depends whether it is making the diagonal triangle.I still think it is and busy making a small correction now before the last move up.I am watching the trendline.To me it looks like 10310 to 10330 at this stage.

[#15]

Ok. Thanks Christo

[#16]

RL13 maybe u right.looks like this correction might go further maybe to 10150 maybe then up to trendline and then down for a shorter wave 5.

[#17]

Good movement up with the Dow. Looks like the res will be tested soon?

[#18]

What a great day to be long!!! :) looking like we going to have a nice bounce this week.....

[HateGauteng]

Thanks chaps. Been sick as a dog the whole day. Can barely make it out of bed to my desk. To make things worse, last night there was some bugger in our yard scoping out the cars. So spent some time with my favourite pet panga (traders should not get guns, its all too easy when the big loss cames along) hoping to run into him. Didn't get to sleep much. Anyway courteousy of you okes, I caught most of the play today. Now lets see what the afternoon holds.

[#20]

Well some sensus are saying that we need to look for short below 10340. I tend to look to close out at 10300.