professor_frink said:the opening gap was 215.
the gap from today's high to yesterday's low is 179.
Currently the nik is dn 700
Bronte said:Todays Gap down:
Notice 6000
Howdy Ed.Edwood said:some nice action today, you wouldn#'t think there was a major sell off o/n (other than the fact that ASX is a little more lively today)
whats the view in Asia?
There hasn't been any kind of reaction in the U.S to today's trading here....unlike yesterday. Dunno bout it retracing 100, but a definate short squeeze is on the cards me thinksEdwood said:thansk Prof - seems to be stablising for the moment then
would like to see Dow retrace a 100 or so myself, but might just be biased given the the way ASX recovered out of its open
professor_frink said:There hasn't been any kind of reaction in the U.S to today's trading here....unlike yesterday. Dunno bout it retracing 100, but a definate short squeeze is on the cards me thinks
And it can't fall again too much- it's gotta rally a little to squeeze out the weak shorts, and suck some more people into thinking it's gunna rally again- only then can the real move down develop
professor_frink said:Howdy Ed.
Take away the size of the gap, and it looked like business as usual
We are doing a little bit better than the rest of Asia-
Nikkei dn 3.3%
HSI dn 2.85%
H-shares dn 4.8%
Kospi dn 3.5%
XINA A50 dn 4.9%
And for some reason the U.S futs are up slightly-but not by much.
I tend to agree with this scenario as the highest probability...professor_frink said:There hasn't been any kind of reaction in the U.S to today's trading here....unlike yesterday. Dunno bout it retracing 100, but a definate short squeeze is on the cards me thinks
And it can't fall again too much- it's gotta rally a little to squeeze out the weak shorts, and suck some more people into thinking it's gunna rally again- only then can the real move down develop
Cheers TI. I'm still not entirely sure exactly what I'm looking at with the XINA A50- thought yesterday it had A-share components in it. It still might- It's quite thinly traded, so may not reflect reality too well.Trade_It said:Frink
China exchange is up selling has stopped
if you want to see then web address is http://www.sse.com.cn/sseportal/en_us/ps/home.shtml#
could be over quite quickly
Magdoran said:I tend to agree with this scenario as the highest probability...
I wonder if this is another one ?Bronte said:The SPI has given us plenty of "Tops" around this time of year Edwood.
16th February 1983 was the SPI's birthday.
24 years :birthday:
Cheers TI. I'm still not entirely sure exactly what I'm looking at with the XINA A50- thought yesterday it had A-share components in it. It still might- It's quite thinly traded, so may not reflect reality too well.
dodgers said:Here the t/a view from macquarie..
Today’s sharp decline likely signals the start of wave 4 within the sequence from the 4758 June 2006 low. This should involve sideways to lower trading over coming weeks, with downside risk to the 5486 January pullback low. The 38.2% retracement point of wave 3 situated at 5601 stands as a likely objective. The technical picture will remain clearly negative providing we do not see gains through resistance at the 5904-09 region.
dodgers said:and another today...
It remains likely that wave 4 within the sequence from the 4758 June 2006 low is underway, implying sideways to lower trading over coming weeks, with downside risk to the 5486 January pullback low. The 38.2% retracement point of wave 3 situated at 5601 stands as a likely objective and as important support. Whether the market moves immediately lower or consolidates more of the recent weakness first is not entirely clear. The 5903-09 region should cap gains if tested and the technical picture will remain clearly negative providing it does.
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