#DAX #FTSE #GOLD We’ve probably all experienced the utter horror of a “friendly” family game of Monopoly/Scrabble on Xmas day, an event which turns into a battlefield with trust the only casualty. My own Xmas trauma was different. It involved a game of chess with a 6 year old grand-daughter, so what could go wrong? Especially after being told “Don’t let her win, she hates it!”.
As expected, the game needed punctuated with common sense suggestions. “If you make that move, it means I will move this and you will lose your player.” All remained calm and peaceful for around 30 minutes until her Dad decided he could help. Then her Mum decided she’d join us at the table to help with my wife, finally, joining the revolution. Opting to stop giving suggestions to the opposing team, a true battle ensued with me facing 3 adults, a smug 6 year old, and a 9 year old ensuring everyone had fresh drinks. I think she was also on Google looking for smart moves!
What is it about Xmas Day which brings out a competitive streak in people? (they lost…)
I’ll admit to something similar, when it comes to face the markets. For a few sessions, I’ve been sagely suggesting 8750 as a probable ceiling on the Nasdaq. It was one of these inevitable things, an obvious point of reversal. And so, when the US market opted to gap the market up by 28 points at the open on Friday, it became unpleasantly clear I’d lost this particular battle. The market clearly had its own ideas, concepts which did not align with logic. The situation with this US market is a bit unpleasant. The next level, the area in which it really must show serious reversal is at 9100 points.
But if going short, doubtless it shall be wise to employ a really tight stop as opening second manipulation tends spoil every argument.
As for Monday and the FTSE, above 7665 calculates with an immediate potential at 7686 points. If bettered, secondary works out at 7698 points. If triggered, the tightest stop is at a reasonable 7622 points.
To be fair, we’d only expect any real reversal, if below 7622 points. In such a trigger, the visuals suggest an initial 7610 with secondary, if broken, down at 7592 points.
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
9:55:10PM |
BRENT |
66.98 |
66.46 |
66.3 |
66.07 |
67.04 |
67.135 |
66.68 |
Success | ||
|
10:06:34PM |
GOLD |
1511.79 |
1506 |
1502.5 |
1514 |
1516 |
1518.5 |
1506 | |||
|
10:08:28PM |
FTSE |
7630.96 |
7621 |
7603 |
7661 |
7678 |
7692 |
7601 | |||
|
10:10:16PM |
FRANCE |
6023.5 |
6017 |
6004.5 |
6045 |
6062 |
6076 |
6017 | |||
|
10:12:10PM |
GERMANY |
13297.28 |
13279 |
13260 |
13337 |
13398 |
13425.75 |
13338 | |||
|
10:16:08PM |
US500 |
3236.1 |
3233 |
3228 |
3244 |
3252 |
3298 |
3230 | |||
|
10:18:51PM |
DOW |
28622 |
28608 |
28557.5 |
28698 |
28733 |
28858.5 |
28608 | |||
|
10:21:05PM |
NASDAQ |
8763 |
8744 |
8721 |
8794 |
8817 |
8854.25 |
8744 | |||
|
10:23:17PM |
JAPAN |
23802 |
23753 |
23687 |
23897 |
23945 |
24037.5 |
23788 |
