07/03 Week, page-2

My take on things this week..

US markets failed to break downtrend last thurs night
They will have another chance tonight or tomo (running out of time before the xjo gives up entirely. Looks like it's trying to consolidate between 7000-7400. 7200 is my equilibrium point between bears & bulls)

I expected the xjo to gap down this morning
Now I think it might even gap up to backtest
Depending on how it opens changes my trading choices

7105 holds & I target 7150 (failing here & it's safe for me to short)
This is the most bullish option if it gets above 7150 again, as I would target 7270 again this week (unless US markets break out sooner, then I will change my targets higher)
If I suggested 7430 next week I'd sound crazy. Haha

7105 fails & it could drop to 7040 by midday (7025 if there is no bounce all day or if it drops faster than expected)
Ftse futures opens at midday so should control the games xjo bosses can play this morning
If this channel doesn't hold, then it could get messy

I could use these numbers all week if the xjo has fallen into some consolidation range (even if the US break out & we choose to ignore it)

Good luck