Well the DOW certainly is not pretty tonight, Down over 2% so far with Europe over 4% down.
I assumed this would happen and it is starting to look like a very feasible ABC correction. There was a Gann Turn date yesterday on the 14th of May and certainly does look like that was a short term market top or a lower swing that has now been made on the DOW and most indices. Panic stations should we break the lows, at the moment i am hoping my analysis is wrong and we will make a lower swing bottom and will be nice set up for the longs or if we do break lower that we get some nice divergence on the indicators i like and any strong charts might have a run.
Wishful thinking maybe but again i am holding very little over night now and i am still short focused. Markets are very volatile right now as it looks like the bulls and bears fight it out. Winter months my call is the bears are gonna have this one hehe.
EUR/USD is going $1.20 crazy markets!!
Ill post some charts tomorrow :)
About Me
- Scott Williams
- I am a young invester/Trader, i mostly focus on Short term or Intra day trading on the equities or Forex markets. I have recently completed my Bachelor of Commerce double major in Finance and Property. I have also completed my RG146 in securities and Financial planning and while trading is a passion my desire is to work within the stockbroking industry or as a trader for an investment bank. This blog I have set up to help share ideas to others on trades and tips i have picked up from my time in the market. I hope you enjoy my blog and some of my ideas :)
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