My guess is that the journey downwards will continue for another couple of weeks.

US and Euro stocks mounting one more rally before crashing?

Agreed. But from an intraday perspective, buying started at 7.30, and has been slow but persistent, with three green hourly closes. Levels for the selling to re-commence could be anywhere from current level (R1) if the buying stalls, to SMA20@1h ...

US and Euro stocks mounting one more rally before crashing?

Fair enough, but from where would the selling commence? Current levels? I'd say pullback first, then down to the 25425 area. But I may be wrong...

US and Euro stocks mounting one more rally before crashing?

I wasn't talking about DAX but about the real smackhead - the Dow - and there the grind is slow but persistent.

US and Euro stocks mounting one more rally before crashing?

Perhaps, but remember that today is ECB day. I'd expect a slow grind that accelerates during the day - on the expectation that druglord Draghi will deliver fresh drugs to the junkies. A case of "buy the rumour sell the fact."

US and Euro stocks mounting one more rally before crashing?

Agreed. This is a correction in a downtrend, whereas 14 February was a rally in an uptrend. And the sluggish grind upwards confirms that.

US and Euro stocks mounting one more rally before crashing?

Whereas I see the typical signs of a bear trap setup for a recovery during today - down to Camarilla L4 (and significant channel edge) pre-open, then not a seller in sight. Just like 14 February.

US and Euro stocks mounting one more rally before crashing?

This could turn equity markets into bullish mode again: url

US and Euro stocks mounting one more rally before crashing?

Yes, does not look convincing yet.

US and Euro stocks mounting one more rally before crashing?

In on the same, but took it off the table up at SMA400@1m. Let's see if it continues up.

US and Euro stocks mounting one more rally before crashing?

50% of yesterday. did. Out for 50.

US and Euro stocks mounting one more rally before crashing?

GM - with SMA20 and the daily pivot cleared, is there anything that could stop this one ahead of SMA50/MR1?

US and Euro stocks mounting one more rally before crashing?

SMA50 on the daily, down around 24600, seems like a likely target for this down-swing. Time will tell.

US and Euro stocks mounting one more rally before crashing?

Low liquidity? 4 points is a rip-off. Even on a morning like this, the spread in the futures market is 1 point almost all the time, and every once in a while it's two points.

US and Euro stocks mounting one more rally before crashing?

Yes, exactly. Hmm, no, not quite. Markets don't follow exponential trends most of the time. Currency and fixed income markets are notable examples. Still, they have a multi-fractal structure. So exponential growth cannot be the explanation. The fact ...

US and Euro stocks mounting one more rally before crashing?

I am grateful to parisboy for inspiring me to explore the multi-scale nature of the markets. And to cat for hosting this thread. Thus this post. Here's an example of something I discovered, which was helpful today. The drop in the Dow came off a ...

US and Euro stocks mounting one more rally before crashing?

Bonds down = risk on? The 10 year note has just broken through an upward sloping trend line But the Dow is indeed moving south. Still in consolidation mode, though.

US and Euro stocks mounting one more rally before crashing?

GM - interesting conversation I thought I'd share some of my struggles with this. What I've learned from experience is that if I approach the market by considering various scenarios as to what might happen, and try to figure out the ...

US and Euro stocks mounting one more rally before crashing?

If one looks at the current futures contract, it looks like it visited that high day before yesterday. So the high from Monday may be the high for a while now....or it may not

US and Euro stocks mounting one more rally before crashing?