I commence with my humblest gratitude to The Most Benevolent, The Most Magnificent, The Ultimate Knower of known and unknown, hidden and obvious, The infinite Glory and Praise are Exclusively and Entirely for His Graciousness
QQQQ is setting up and gathering its energy to hit the next higher profit targets, (With God's Willing). Markets need to balance the previous strong move to get ready for next BIG UP move (in the direction of the trend, which just started)
6 comments:
Luc
said...
Is current sudden decline an ocassion to get more calls or its changing the "game plan" ?
Thank you. I do not think anything that Mr Syed has foretasted has changed. Nothing moves straight up and down spikes are needed to clear off longs with tight stops. Most tops will give some sort of distribution before a change of trend in order for smart money to sell off to dumb money. That is my take at least. Thank you again Syed.
I heard on CNBC that one of the reasons the market turned down today is because Spain's ratings were cut today by Fitch. And this happened after the European markets closed so the assumption is that Europe and Asia will absorb this news on Mon/Tuesday. I am curious as to what you are forecasting for Tuesday for the N.American markets. A big intra-day move down before moving up on Wednesday?
Thanks again for all your insight and sharing your knowledge.
yes, you're right but at one point neckline of reverse H&S pattern on SP500 was broken so i was worried.
but it survived so i didn't closed any long positions.
but it looks to me that market need to go up on next session (tuesday) to confirm that reverse H&S is in action (with target 1130-40 but who knows maybe more)
6 comments:
Is current sudden decline an ocassion to get more calls or its changing the "game plan" ?
Thank you. I do not think anything that Mr Syed has foretasted has changed. Nothing moves straight up and down spikes are needed to clear off longs with tight stops. Most tops will give some sort of distribution before a change of trend in order for smart money to sell off to dumb money. That is my take at least. Thank you again Syed.
Your friend Reed
Hi Mr. Syed,
I heard on CNBC that one of the reasons the market turned down today is because Spain's ratings were cut today by Fitch. And this happened after the European markets closed so the assumption is that Europe and Asia will absorb this news on Mon/Tuesday. I am curious as to what you are forecasting for Tuesday for the N.American markets. A big intra-day move down before moving up on Wednesday?
Thanks again for all your insight and sharing your knowledge.
Patrick
yes, you're right but at one point neckline of reverse H&S pattern on SP500 was broken so i was worried.
but it survived so i didn't closed any long positions.
but it looks to me that market need to go up on next session (tuesday) to confirm that reverse H&S is in action (with target 1130-40 but who knows maybe more)
hmm so far market is only going lower and lower (eurusd also)
i hope that no update on blog means that everything is on the right track...
NO good news. How can market rally? What is the trigger for rally absent good news?
Thanks
Susan
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