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This is a discussion on Stock Market within the Trading Systems forums, part of the Trading Forum category; In the process, the market also closed well below the February top-side trend-line it was leaning on as support for ...

          
   
  1. #71
    Senior Member TechnoMeter's Avatar
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    DAX Ė More Selling Ahead? Keep an Eye on These Levels

    In the process, the market also closed well below the February top-side trend-line it was leaning on as support for the week or so before. So far, yesterday’s reversal day is showing a little follow-through this morning, but we’ll be quickly looking at 12660 as a hurdle to overcome if the DAX is to see the bounce grow legs and become a full-blown rally. For now, it’s resistance until it’s not. A move beyond 12660 will bring attention towards the underside of the Feb trend-line, and possibly new highs.

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    It’s still a little unclear whether this week’s down-move is all we’ll see, or whether another wave of selling will push the market lower. The thinking on this end is we will see another leg lower before making a serious attempt to resume higher. It’d be preferable, too, as key levels of support have not yet been met. Ideally, we see a move to the old record highs under 12400 and/or (depending on whether they collide for confluence or not) the trend-line rising up from December under the April swing-low.

    Getting to the point: 12660 is our focal point as resistance; maintain below there on a closing basis and the market will continue to be vulnerable to further selling. A move beyond will bring the underbelly of the Feb trend-line into play, but may also mean the market is gearing up for another run at record levels. Yesterday’s low at 12490 is our first level of support followed by much more significant support around 12390/75 and the December/April trend-line.

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  2. #72
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    Be Prepared For A Global Stock Market Correction In The Second Half Of 2017

    Stock Market-us-500-d1-g-e-b.png


    The Dow Jones Industrial Average, S&P 500 and German DAX are the only three major averages around the globe to set new all-time intraday highs this week.

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  3. #73
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    DAX at Serious Risk of Filling April Gap

    When we visited the DAX on Thursday and made note of the yet-to-be aggressive down-move which can develop as a result of a market breaking higher from a wedge formation but then failing, and subsequently taking out the bottom-side of the pattern. The idea is the fake-out to the upside catches the market leaning the wrong way. At the time of that writing, the DAX was positive in the early part of the session, but then proceeded to have its worst session since last summer. It took a few days to develop, but sellers finally showed up.

    Stock Market-de-30-d1-g-e-b.png


    The Thursday/Friday move put the DAX through the first zone of support in the 12537/486 vicinity, which now makes this once-viewed support an area of resistance. The early-week bounce put it to test, with yesterday’s high coming right at 12486. Stay below this zone and a push towards the French election gap starting at 12289 is viewed as the most likely scenario. It will only require a small lower-low from the Friday low to do so. A firm push into the gap will have the market on its heels as the likelihood increases significantly that we see a gap-fill down to 12048. The next level of support below the gap comes in at a swing-low just prior to the gap comes in at 19941.

    The technical landscape is shaping up nicely for the election-gap to finally fill. From a tactical standpoint, those looking to play for a gap-fill are offered a solid risk/reward set-up at current levels. Resistance is close by, so stops can be placed just on the other side should the market break higher, while the target lies a good distance away.

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  4. #74
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    Why International Stocks May Continue To Outperform In 2017

    Staying vigilant and looking for new opportunities when others aren't focused can have many benefits. When applied to investing, that same philosophy can eventually pay off.

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  5. #75
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    S&P 500 Approaching Record Highs Lends to a Couple of Possibilities

    There is no denying the longer-term trend is firmly higher, and finding ‘the’ top is not an exercise we are interested in partaking in. But even with that said, we could soon see another turn lower that offers shorter-term-minded traders an opportunity to take advantage of price weakness. The S&P is on approach to record highs at 2454. If we see a rejection around that level it could signal a move back towards 2405, continuing a range-trading environment, with an opportunity for shorts. If a move lower develops towards 2405 we would then become cautious on bearish bets and watch how the market responds to this important support level (it could also be in confluence with the December slope). There might be a long-trade in there as the range remains and buyers continue to keep the market propped up.

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    If, however, we were to see the 2405 level break, then it could be game-on for the bears, as we receive confirmation of the double-top. But not to get ahead of ourselves, we’ll first focus on the resistance level quickly approaching and go from there. If the S&P can gain traction through the record high on a daily closing basis, then the continued range scenario would be undermined. However, it wouldn’t necessarily be a sign that it is time to ‘get all bulled up’, as buying breakouts in equities has long had a history of burning those who paid up for new highs. Furthermore, there is a top-side trend-line extending from the March 1 high over the June high, as well as the under-side of a slope rising up from the November low. This could put a lid on the market, even if for just a short while.

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  6. #76
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    How Can I Invest in Bitcoin & Cryptocurrencies?

    Investing vs Trading

    More and more Forex brokers are offering trading in Bitcoin, and a few are also offering other crypto-currencies. This means a possible solution is to open an account with one such broker and simply buy some Bitcoin and sit tight while your investment hopefully appreciates. Opening an account with a Forex broker is usually a relatively painless process and you don’t have to worry about owning the Bitcoins or other crypto-currency. You just have a position with the broker, and many brokers will allow you to open an account with a minimum deposit of $100 or less. They also offer leverage, which means that you can take a position bigger than your deposit. This brokerage route sounds like a simple solution, but there are two problems that probably make it a potentially poor proposition.

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    Bitcoin Mining

    Experts typically estimate that it will be possible to mine Bitcoins until approximately 2040, leaving plenty of time for prospecting. Bitcoin mining is the process of using specialized computer equipment to create your own Bitcoins over the internet. Unfortunately, effective mining is now out of reach of the hobbyist, as it now requires a very large cash investment in a lot of equipment. There are some websites offering investment in collective mining operations. These are technically feasible, and there are legitimate mining consortiums which pool the costs, but this again is a risky idea, particularly if you do not have perfect due diligence on the offering.

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    Shares in a Crypto-Currency ETF

    Some assets are problematic to own as they incur storage costs and other issues, commodities such as crude oil, natural gas, and gold bullion being good examples. So why not buy shares in a fund which owns crypto-currency, giving you an exchangeable and easily ownable asset derived from the value of the crypto-currency you wish to invest in? The main reason why it might not be a good idea is that shares in these crypto-currency funds tend to trade at strong premiums to their underlying value because there is such heavy demand for the shares. For example, a fund owning $100 million of Bitcoin valued at the current market price might have 1 million paid-up shares trading at $150 each. If you buy one of these shares, you are paying 50% over their true value, and if the market were to cool off suddenly, you would find yourself down by 33% on your investment very quickly. Another concern with investing in a fund is the question of regulation and fraud, similar to the issue concerning Forex brokers.

    Outright Purchase

    For most investors today, the cheapest method is simply to buy the crypto-currency directly and store it, hoping to sell it later at a profit. This leaves you with the legal ownership of the asset and the responsibility of storing and protecting it. The worry is in protecting the code, as Bitcoin ownership is like a bearer share: anyone with access to the code can “spend” the Bitcoin. If you have the code on a piece of paper, and receive and store it by email, it is just as vulnerable to hacking as your email is. An alternative storage and protection method is to use a digital wallet and/or vault. These can be a third party’s server, a smartphone app, or a program you store on your computer. You can keep it in a flash drive or other device too.

    Conclusion

    Before making any investment in a crypto-currency, please do your own thorough research into whether it is an attractive investment that can meet your long-term financial goals. Take care not to be panicked into buying in a hurry before you have thought it through. Investments that have enjoyed enormous price increases have historically shown some tendency to suffer disproportionately from huge falls in value. If you do wish to go ahead, outright purchase is probably the best idea, although a very well-regulated and insured fund trading at a modest premium could also be a good option.

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  7. #77
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    S&P 500 - daily ranging bullish; 2,437 is the key

    Yesterday, we saw some intra-day whipsaws following the release of the minutes from the July FOMC minutes, but net-net the market ended the day right where it was two hours earlier. Looking ahead, tomorrow brings U. of Michigan Confidence for August, potentially a market-mover, but look for it to have more of an impact on FX/rates than equities.

    Stock Market-us-500-d1-g-e-b.png


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  8. #78
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    Week Ahead On Wall Street: Central Bankers Descend On Jackson Hole, Whole Foods Investors Vote On Amazon Deal

    What to watch the week of August 21-25

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    Monday
    • It's business as usual on Wall Street as a partial solar eclipse casts something of a shadow over New York City.

    Tuesday
    • Salesforce shares quarterly earnings after the bell.

    Wednesday
    • New home sales in the U.S. are out for July.
    • Lowe's and American Eagle report earnings in the morning.
    • Hewlett-Packard and Williams-Sonoma share results in the afternoon.
    • Whole Foods investors cast their votes on the proposed $13.7 billion acquisition by Amazon.

    Thursday
    • The three-day annual summit in Jackson Hole, Wyoming begins.
    • Existing home sales in the U.S. are released for July.

    Friday
    • A verdict is handed to Samsung's billionaire heir apparent Jay Y. Lee, who has been accused of bribing a government official in order to secure a merger that prosecutors say was intended to consolidate control of the nation's biggest conglomerate.

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  9. #79
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    Dow Jones Industrial Average Inability to Dive Keeps Bulls Alive

    DJIA is approaching a trend line created by connecting the August 8 and August 16 highs. This line is important for the near term because a close above the line suggests the near term down trend has abated. The bullish wave labeling is that the August 8 to August 21 correction is an a-b-c zigzag. This implies a retest of the 22,178 high. If prices respect this resistance trend line and head lower, then our bearish Elliott Wave model may be taking shape to retest the 21,600 lows and possibly lower levels.

    Stock Market-us-30-w1-g-e-b.png


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  10. #80
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    Nikkei 225 Technical Analysis: Donít Bet Farm On This Range Break

    The Nikkei 225 bounced at the bottom of its trading range last week only to blow clean through the top of it
    on Wednesday in an impressive, three-day bull run.

    However, while price action has clearly validated the bottom of the range, it has yet to finally dispose of the top. Punchy though this week’s action has been – and part of a global rise in risk appetite – the Nikkei now looks somewhat short of breath on its daily chart.

    Stock Market-japancash-w1-fx-choice-limited.png


    For sure, Tuesday’s peak of 19,871 will constitute a higher high than the two previous peaks – 19,672 on August 31 and 19,834 on August 15 – if it’s confirmed. However, it will still be a lower high than August 7’s 20,000-and-change. It will also constitute another failure to breach the downtrend line in place from 2017’s high.

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