Hi all, just a newbie but figure in the scheme of collective thoughts my opinion still adds to the big picture.
I have been learning and trying to apply the "Dilernia" method for some time now. The Dynamic levels of support and resistance in relation to time frames seems to work well in general for any market.
I tend to focus more on the longer time frames for obvious reasons, less noise etc. Also, having a day job limits the time you can spend in front of the screen.
I also follow the news a lot and have followed this thread for ages. PJ's links are always an interesting read and the comments of posters like Robbbbbb, Volt, Redbacka's reviews, the likes of sanfelipe, ninelives, Mrs Bear, mongo etc are all priceless for someone like me trying to find his feet in the markets. There are also many others too few to mention.
My point being, technicals, from my observations seem to carry more weight than fundementals, at least in the shorter term. And cycles as well seem to carry great importance.
This post is really more of a thankyou than anything, coming from a newbie trader experiencing modest but far from stellar results.
I believe the there is strong resistance above, both the spi and the aussie. American and european fundamentals seem ordinary at best but here in the land of oz, we seem to be travelling fine. Again, the more I look at fundamentals, the more confusing it seems.
Getting back to the point, technically resistance, price wise is obvious across the board and my short term position is short.
At the moment to me, the only salvation equity markets have is a bull market driven by FED inspired inflation, rather than real growth.
My two cents worth but again, thanks to all the experienced posters on this thread.
Cheers
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