Anyone got a good entry? I played 270 to 282 this week but now want a solid entry for a few days. I am re-thinking the 272/275 mark and out again at 300/310. However RSI showing a possible weakness again so might hold off. STO sitting nice but MFI, ROC and DMI(ADX) showing weakness as well. I guess I might wait till Monday then to see unless others have a better reason for me to go with the gut (yes that is part of my TA and it works 80% of the time) and take an in at 272/275??
I would look at re-entering at 268 mark.....still could fall as low as 258 though. If you are keen on turning a profit whilst waiting for the set up to complete NPN is about to do an about turn. Index wise JSE and Dow both approaching resistance......can't see the dow moving through the 10400 mark, will probably reverse off 10360.
I see the DOW limping along today (about 2 hours left), basially consolidating and hanging onto the big push up yesterday. Will it fall? That is hard too call but with the Eurozone under present fire from the media (maybe deservedly, maybe just a distraction for what is happening elsewhere that should be seen but is being cleverly hidden) it could well maintain gains.
Japan is buying up US debt (treasury bonds) rather than China in the last little while and all that is happening is the media are reporting it as China trying to snub/force the US to look at their fiscal policies and other nonsense.
China is merely trying to reduce/lessen the impact of credit extentions (rather trying to slow or stop speculation in property, especially the high end markets etc, thus avoiding the creation of the same bubble the US did) to maintain or focus growth in GDP and not based it merely on artificial segemnts of the economy.
NPN, well that could start showing a little negativety but at present is still expected to goto 295/300. TA strong to the upside for a few days still. But as with everything in life it could change in minutes.