15 Apr

Stellar week for the DAX

Good morning,

China’s GDP roughly came in line with expectations – IF YOU BELIEVE the numbers are in fact true.

Dow chart 150

Dip buyers are keeping DAX higher

It has been a stellar week for the DAX, adding plus 400 points. The dips have been very moderate, about 40 points. I suspect I will focus on buying DAX dips. Its Friday, so I am not expecting anyone to change the trend majorly on a big up-week.

The BIG PICTURE looks very interesting. I have a FIBONACCI TIME CALL for a high in stock indices. The chart below would suggest that I will be right or wrong very quickly. Its simply a matter of taking your pick, chose your side.

Are we continuing up or are we headed back down again? I have made my longer term call, but in between I will carry on trading during the day, AND KEEP THE TWO CAMPS (INTRA-DAY and LONG-TERM CALL) SEPERATE.

Dow chart 149

Dax Daily – its make or break time

The last chart is the FTSE. It is the kind of chart that makes me wonder if my BIG CALL is right. This looks like a great BREAKOUT TRADE to me. It has a pretty decent target on it too. We are talking another 450 points higher in the next few months. It is for this reason that I am not breaking out in a sweat over my big call. There will be plenty of time to jump on board, if we don’t see markets back off in the next week.

FTSE 100 BREAKOUT???

FTSE 100 BREAKOUT???

HAVE A GREAT WEEKEND

Tom Hougaard
Tom Hougaard

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