Disclaimer

Disclaimer: This blog should be read as a 'whiteboard' of my daily thoughts and ramblings and specifically not, in any way, advice to trade. My interpretation of the works of Gann, Goodman, Fibonacci, Elliott, Hurst et al; is entirely my own and should be read as such. Any opinions, news, research, analyses, prices, or other information contained in this report are provided as general market commentary, and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Thursday, 30 May 2013

Dow Industrials

For now, the triangle/diagonal options are looking good but the 12.5D fld is just above again and price would need to get through this to confirm. On my 10min chart I have a gap at about 15390 and this is where the 12.5D fld sits. What am I worried about: the possibility of 1-2s to downside, but that momentum cluster continues to suggest that the aforementioned triangle or diagonal should be kept on top table. I am however, closing my final 'short cover' for profits on this spike up, on the basis that AUDCAD seems to be suggesting that will spike up - if so, on recent form, that would mean the Dow would go down. I am light on the Dow anyhow, so going naked short at 15360

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