Its been a while

Time I got back into the groove of things

Well the DJIA hasn't done to much....its been in a very nice uptrend since i last blogged.

As you can see it has bounced of the upward trend line for about a month now, some nice trading opportunities. it has also found some resistance.

Market is now trading above long-term resistance. I was calling short about a month ago and we did get some counter falls but all seems 'rosie' at the moment.

More to come shortly.....

safe trading

nice trade

Still in range

The DJIA keeps on hitting resistence of a L-T trend line.

A couple of scenarious could play out here.

-sharp sell-of into xmas
-or a breaking of the L-T resistence, possible 400+ points on the upside (outlined in red)

I've also been watching the AUD/USD. I see weaknes in the $AUD - possible target 0.86c



safe trading

UPdated DJIA Chart

You can only hit your head so many times before you get a headache and give up

The XJO is starting to form the same pattern

The issue for me is that the longer it takes to break these resistance lines, the more it validates them as possible pivot points (reversal)

Safe trading

A very BIG move is coming.......

This could go either way.....

The first chart is the DJIA on a long-term chart



The next is a close up of the action. We can see the expanding megaphone (in Blue) and the L-T resistence line (also in Blue). Also the 50% Fib line is coming back into play.

All very interesting, going to wait for a defeniant move then 'pounce' - LOL

I'm still favouring the short side.... time will tell

Safe Trading

Goodnight and Goodbye

Its time to look at those 'short' positions.....

the DJIA has stormed ahead of the XJO, it almost seems as if the Aussie market knows that the US is bluffing.

the below charts show what i have been looking for

Wider shot

Close up

Also the XJO is looking prime for another touch and rejection of the overhead resistence.



Safe Trading

Looking to Short 'soooon'

Well what a call....this baby ran like a man being chased by his 'lovers' husband - LOL

But the 'brakes' are starting to be applied....for the meantime

this could be a 'rest' period before another leg-up or result in a Lower top on the XJO.... BUT note; we have now re-entered the up-trend - very similar to June/July.....interesting times

Important to note is that the DJIA has gone on to make new highs while the XJO seems to be caught in a 'rut' - seems like the bulls are running out of cash or cashing in their profits....very interesting

Now this chart is why i'm looking to short. I think this rally - especially the DJIA still has legs to run...will be very interesting

safe trading