Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

Looks like a wild week ahead

Reply
_nova
Super Contributor
This could go anywhere as there is an amazing number of indicators that are at important technical levels. With the DOW at the psycho 8k level, USD Index threatening an upside breakout, S 'n P below 840 and eyeing 800 (DOW TRAN has broken down already and heading for the 2909 low), FTSE is a hair away from 4000 and DAX heading there fa*****. But, these are also support (or decision) levels. Which way is it going to be? In my opinion it's going to be *****raight through and *****raight down, no dallying about. Ok, so it's a considered guess but if I take ju***** one chart as an example... AMS daily... now if that isn't a dead kitty bounce, then what is?
0 Kudos
10 REPLIES 10
_nova
Super Contributor
fa***** *****raight ju*****
0 Kudos
SimonPB
Valued Contributor
nova, what did you do to the nanny ??
0 Kudos
_nova
Super Contributor
Simon? Sorry mate but this is just ludicrous! Those words are for VINNIG (FAST), REGUIT (STRAIGHT) and NET (JUST). Your net-nanny is on steroids man!
0 Kudos
Amar
Contributor
Sorry but I had to see this for myself faster, straight, just
0 Kudos
_nova
Super Contributor
ja nee, Simon fixed it. I thought I was seeing things. I think the net nanny remembered some of my long gone late night whiskey induced ramblings and decided to put one over on me. Either that or the nanny's been smoking the lawn hehe
0 Kudos
dookie
Regular Contributor
Ja. I think she didn't get enough fibre!
0 Kudos
Not applicable
Nova, U care to share more views on the USD/ZAR? In principle, I suppose lower interest rate announcement later this week should weaken the Rand because the current account becomes worse? ... but lots of volatility though?
0 Kudos
_nova
Super Contributor
You know mammon, your question is loaded with so many variables it's quite the contrite quandary for us. There are so many things right now that can lead us either into deflation or inflation it's impossible to guess where it's going. Which leaves us with guessing as the only option. Will we get 100bps? I seriously doubt it. Is the ZAR on thin ice? oh yes! I don't even monitor the USDZAR since the USD Index and EURUSD moves (EUR has quite an impact on our consumer imports/exports) pretty much do to the ZAR as they please. Here's the one sure thing: If the USD Index goes up then the ZAR will go down (weaker) since stronger USD means lower dollar prices for commodities. And it's the USD Index I watch since it's a true reflection of dollar strength as a reserve currency against a currency basket, and not just an isolated move against a single cross. If the USD Index does break out to the top then we are going to get clubbed like Robben Island bunnies
0 Kudos
Not applicable
0 Kudos
CrownA
Super Contributor
If the S&P goes below 800, it would have completed a massive double top formation from over 1500, to technically this means it should go 1500-800-700 down from 800 == 100. The end of the world as we know it. Weee - everyone get your shorts on!
0 Kudos