Posted in: spread-betting
RE: Trading/Spreadbetting board13 Dec 2014 13:11
Well , by any stretch of the imagination , the last couple of weeks on the Dow have been nothing short of " miraculous " -- a never before seen rise to lofty heights of 18000 ( RSI 83.7 --extremely overbought ) ---to fridays 17253 ( RSI 24.8 --well into oversold ) ---the drop occurred in 7 trading days ---absolutely astounding ---again, never before seen in such a small time-frame . Where to next ?? ----Well, since 2009 there has always been a rally ( santa or otherwise (lol)) over the Xmas period and into the new year !! ---will this year be different i wonder ?? --- OIL in freefall has "spooked " the markets this year at the "wrong time" i suspect but i would not be ruling out a rally of some sort again this year , esp. as Indicies are in that oversold bracket at the moment !! ---------support now comes in around 17100 ish from back in July/Aug/Sept but an intraday test of the big round number 17000 may be seen ---well below EMA 20,and 50 , smack on EMA 100 and EMA 200 interestingly comes in at around 17000 ---after that , well, pick a number --16600 then 16400 look as good as any to me !!! ---of course , hopefully , we get some sort of stimulous in the news etc. over the weekend to start the rally on monday ----far from all over yet but as i pointed out in a previous post , Santa is leaving it a bit close to the wire this year (lol) -- F4 looks to have been closer than me with his " prediction " of 17000 ---oh well , can't win 'em all --will be giving the "wise ones" a piece of my mind when i can find where they are "holed up" ? (lol) ------GLA . interesting week ahead----