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.

Friday 19 July 2013

Dow Jones

So what was the best trade there then? the 100 pips up yesterday or the 100 pips back down? Both of course, although I continue to favour shorts until we get the 25 day low, which seems to be some ways a way at the moment. I  have banked the overnight drop given positive divergence appearing in the MFI and weakening momentum study and will see how matters lie at the New York open, hoping for a pull back to the Daily Pivot or more to short again. Overall though, yesterday's new peak does not dispel the feeling I have we are playing out an expanded flat in a 4th wave rather than the 5th.

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