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30/09/22
10:16
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Originally posted by TheFadz:
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I'm not sure how to digest last night's data Gdp was as expected (no miracles) The 28th sept looks worse than last night in comparison for most charts AUD is stronger Dxy is falling 10yr bond yields all still lower US vix is lower (slight downtrend & actually closed on the bullish side of the fence on the hrly chart) DJ & Spx futures didn't make a new low XJO could close 7490 or 7430 (depending on how much panic selling they can extract from retail) 7510 is the bottom of current channel at the open (7490 at the close) As soon as that breaks it opens the path for 7430 bottom (7490 top) 7570 is the top of the current channel at the open (7550 at the close) In case they try to setup a trap this morning Obviously everything could still get a little worse tonight but if it doesn't, we should repeat the July/August rally & go again for the next quarter Lots of covering still needed to close out this shorting campaign before the next trend 6720 is now my new target & we will get there asap (gets slightly lower the longer we sit down here) Bull bus just needs to drop off as many passengers as possible before jumping onto the motorway for the next express stop (unfortunately driver seems a little lost atm & might need some directions)
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Just for clarity the 7 should be a 6? XJO could close 7490 or 7430 (depending on how much panic selling they can extract from retail)7510 is the bottom of current channel at the open (7490 at the close)As soon as that breaks it opens the path for 7430 bottom (7490 top)7570 is the top of the current channel at the open (7550 at the close)In case they try to setup a trap this morning