This Week's Market Action

I have been very busy the last week or so, mainly because I have started renovations on my place. Running up & down, trying to co-ordinate the work. We are working on a very tight budget, so am doing the work of the main-contractor. The wet-work is almost done, so the "dry" stuff will be more or less starting the end of this week. We are attempting to do plastering on our own - will definitely be a challenge! Do hope that my daily blog comments will be minimally disrupted.

04:32pm Globex PRICE movements have resulted in a PRIME PPF on the Trading chart. But with the TREND chart still pointing down, we need PRICE to move away from 1401.00 & take out 1408.00, as Leg 2 of the Bull Break. Leg 2 MUST NOT breach 1411.25.
But if we do not take out 1408.00, and instead come back down to clear 1401.00 & 1400.00, then this Leg 1 of the Bull Break is still not done.
09:59pm Folks, it looks like we are not done going down. As noted in my afternoon post, we failed to clear 1408.00 (only managed to touch 1406.00). We have just cleared 1401.50 & now, 1400.00 looks very much in danger.
10:31pm SHORT 1400.75 / STOP 1401.75
10:35pm Moving STOP to 1401.50
10:37pm Out at 1401.00 / -0.25pts. PRICE taking too long to break down.
10:38pm Now you know why I got out...If the breakdown takes too long, I would normally get out of the trade.
10:40pm We have just created 2 PRIME PPFs on the Trading chart. Are we done going down? Let's see what PRICE is telling us...
10:45pm SHORT 1401.75 / STOP 1402.75
10:48pm Moving STOP to 1402.50
10:50pm This is more like it.
10:51pm Watching closely. We are now in PRIME, on the Trading chart.
10:53pm Out at 1400.00 / +1.75pts
11:01pm Wow ! What a strong down move..Never expected it. I had my plan, and I stuck to it.
11:30pm A possible pause in the down move here. TREND chart has just turned up, and we might see a Minor PPF on the Trading chart.
11:40pm No go. 2 Minor PPFs in a row. No trade taken.
12:37pm A very trending day. No trades after the first two. 2 trades tonight / One loser, one winner. G'nite all.