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US futures looking very down

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Not applicable
Wonder if they have some of this misserable winter weather hanging ove JHB? guess we can expect a good 30 minute trading session late afternoon again...... Me is gonna go for a quick long GAP but will see when it opens. I expect a open of 80 points down and then close to later fall overall 100-120 for the day....OMO, John wheres your pointers? Ninja hows FTSE treating you?
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21 REPLIES 21
kwagga
Super Contributor
There ain't gonna be no gap close if jobless claims comes in higher than expected.
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Not applicable
I was just wondering that. I did say i wold look closer to open but those job number do bug me so lets wait and see.
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Not applicable
505k, not bad and naot far off estimates so we could see some action after all.
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richardw
Super Contributor
You wanted action? Seems there's a taste of it...
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barry_1
Super Contributor
Tomorrow morning the market is likely to jump in the first hour.Thing is should we use the opportunity to lighten further or should we hold.I have sold half my TOPSKB at a good profit this afternoon,of course,i still ask myself why i did not get out entirely this morning? Traders dilemma,any way keeps the brain cells active!
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Not applicable
Well that GAP close did not come so I stayed out but the 1-2-3 showed a continued down and so far so good 120-130 down so in range of the short
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_nova
Super Contributor
nice evening star on the ALSI this am...
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john_1
Super Contributor
Hozit Nova..nice to see you. remind me about a morning star..jap candles have never been my thing
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_nova
Super Contributor
hey John, good to speak again. Evening star is a very strong reversal pattern. Up day - Doji - Down day with confirmation on the close (morning star is the inverse). It doesn't always play out but it's statistacilly almost a sure thing for a healthy pullback. What gives this one some oomph is that the reversal is off the top of a rising wedge...
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SimonPB
Valued Contributor
so are we goign up or down ??
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richardw
Super Contributor
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Electrox
Super Contributor
hey Nova_ .how you doing there.. yes im seeing a nice reversal swing here.yesterdays close below the doji low confims this retracements happening.. how do u work out targets for these moves? Im also watching the Dollar index.. interesting play setting up.
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_nova
Super Contributor
You know better than to ask such a glib question Simon :-) I trade my system and the candles say reversal with a chart pattern confirmation. If I'm wrong then I cover... simple
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SimonPB
Valued Contributor
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_nova
Super Contributor
hey Electrox! TOP is target around 23,000 and you're right, the USD Index is key as 75 seems to be holding and it's quite possible we could see a poke towards 80 instead of 70. But, if it heads below 75 then all short bets are off. I'm watching the USD Index, EURUSD, XAU and Oil for hints. Though I reckon we are seeing a correction in the making here
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_nova
Super Contributor
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SimonPB
Valued Contributor
well depends what time frame you're lookign at .. hence the Q ..
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_nova
Super Contributor
that makes good sense. Sorry, thought you were goading me :-) I'm looking at daily charts for candles and chart patterns (but I also consider weekly). I only use shorter time frames for "excitement" and the 1 min streamer for good laughs. Have found that patience and daily charts are far more reliable. Anyway, if the daily chart on the TOP can be "trusted", then we should see a pullback to around 23k though a break above the top of the wedge cancels all shorts or if the USD Index goes below 75 again
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Electrox
Super Contributor
wats your email address Nova_ wanna ask you something
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