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Topi 30,000 resistance

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DEP
Super Contributor
I think we are going to find lots of resistance at this level. I think we can only move remain above 30,000 if Greece receives more than 75% of bond swaps by tonight dead line. However, Talks of QE3 coming early to the party - maybe the FED knows something we don't (i.e. Greece will default).
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24 REPLIES 24
Fredsed
Super Contributor
Oh what a tangled web they weave since first they practiced to deceive.
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Electrox
Super Contributor
might just stick around 30k here for a while probably squeeze till 15:30-16:30.
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BC02
Super Contributor
Seems on the 30m charts theres a H&S, over past 2 days. Neck to head +- 400 points, target 30,200.
Thoughts?
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Rams
Super Contributor
pattern on one hour chart also
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DEP
Super Contributor
hmmm a short is in order here!
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BC02
Super Contributor
what makes you say that?
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Not applicable
You mean Inverted H/S ?
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BC02
Super Contributor
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DEP
Super Contributor
... reasons - my initial post!
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BC02
Super Contributor
sorry, forgot bout that, personnally I just trade the charts, not very good with trading news. Everytime Greece has come out with news good and bad, either I called it wrong or nothing happened. So sticking to my targets and stop losses.
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DEP
Super Contributor
We closed just below 30k resistance. Tomorrow should be an interesting day... Greece and jobless report.
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SimonPB
Valued Contributor
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DEP
Super Contributor
... well they are going to activate the CAC - i.e. force the remaining bond holders to accept - this might be a credit event!
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DEP
Super Contributor
QUOTE: HONG KONG (MarketWatch) -- The International Swaps and Derivatives Association Inc. said Friday that it has received and accepted a question related to a potential credit event concerning Greece. The ISDA EMEA Determinations Committee will discuss and determine whether a credit event has occurred, requiring a payout to those who held credit default swaps as insurance to protect themselves in the event of a Greek default. The Committee will meet at 1 pm GMT (8 am ET) on Friday, ISDA said.
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Rams
Super Contributor
it all sounds like Greek to me: whats the impact on the ALSI today, before 1pm, at 1pm and after 1pm?
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richardw
Super Contributor
I think it's 99% certain that it *will* be a credit event,. The only question is what the result of the credit event is to the rest of us.
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DEP
Super Contributor
...worrying factor Euro/$ drops 1% today!
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Fredsed
Super Contributor
Sell rumour buy fact. Market confused which is what.
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Rams
Super Contributor
when market confused, stay out! this might be DEFConfused(DEFCON)!
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