Nearly 300 point gap on the DOW..

[john_1]

So me thinks we are gonna tank with the gap close...or...we rally like bat out of hell as the shorts scranble...With the fed rate cut looming the second opption is not out of the question.

[#2]

Oct 24's gap on the ALSI currently busy closing, i say we rally...

[john_1]

I am also long into that gap..

[john_1]

A thousand point moves in day are becoming so common place, its scary!

[_nova]

here's the dilema I can't figure out and which has me running in circles: The major crosses are showing intraday double tops all over the place. One example the EURUSD has now a triple top on the shorter time scales at 1.2585. When the DOW goes up the USD weakens and vice versa so the FX market at the moment is predicting the exact opposite of what the DOW futures is saying. Anf the CBOE VIX at 80.06 doesn't help one little bit. If the USD keeps it's strong tone then the DOW is going to pop and drop. If the USD goes up through 1.26 to the EUR then we see a mighty DOW rally. But for now nothing is certain

[#6]

nova, you over complicate things. That's why you're going in circles. Just trade what the chart in front of you is saying for the timeframe you wanna trade in. The market momentum is bigger than any individual decision, just trade the chart in front of you... markets can be irrational, dont try and second guess it.

[Brazen]

I say rally. But now everyone's saying rally, so probably tank. Am long though too.

[#8]

any1 have any idea wher this is going, cant trade this, its all over the place

[_nova]

For the DOW to really rally the EURUSD must break through 1.2585 upside of 1.26 otherwise this rally will flop

[Wizard]

That Consumer Confidence number was a killer! The pop and now we drop...

[_nova]

This isn't complicated skippy, it's basics. The DOW pop was a no brainer and whether our market would follow it depends on whether it sustains. Now look at the chart... do you see my point?

[#12]

me thinks the current correction on the ALSI will take us to just below 61.8% at 17580, although I'm rather hoping it won't as I just entered a fresh long on BIL at 145.00

[#13]

notably, volume on the DOW in the first hour of trade is higher than usual. by usual i mean in the last 10 sessions or so...

[#14]

god ppl...so much stuff to think about...this couldnt be easier.....just short the rallies

[asylum]

ya you right and Dow on downward spiral.

[john_1]

I agree..if its the alsi you trade then take you triggers from the alsi..Removes the need to think, and we all traders are as thick as pig poo. Me included of course

[#17]

not even a spiral ...we are taking the escalator down...

[#18]

is ther stil room to short, or its ready to go back up soon?

[#19]

now is th real short!!!!!

[asylum]

well the trend is down so short the rallies, also depends if your trading an index or SSF