The Cable stopped at 1.5023 exactly at intersection of two key lines from weekly/daily timeframe,
That might be it for a couple of days, but I wouldn't exclude further move down to about 1.1460-70, so as to hit obvious SL, before some correction.
I'm looking at 1.5140 and 1.5220-40 levels as interim AOCs for bearish correction.
JI
jimkane
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Interesting how weak the breadth is on this market. Although the headline here catches the eye, if you look at the chart, it's not as significant as it sounds, it's really that the market isn't up that much year-to-date, and what it is up is from these big eight stocks. All in all not good, but not quite as bad as they make it sound.
http://www.zerohedge.com/news/2015-11-10/if-it-wasnt-these-8-companies-market-would-be-down-2015
http://www.zerohedge.com/news/2015-11-10/if-it-wasnt-these-8-companies-market-would-be-down-2015
JI
jimkane
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Anyway, look at another auto parts stock (like my old pal AZO), ORLY. Up almost 2,400% off the low. For an auto parts stock! Is that just stooooo-pid, or what?
JI
jimkane
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So, one more pump to the 80 area, or a blast to the 85 area? I'm thinking it would be impressive if it set a new high here for this move at all, as it seems done at that 78.75. That's the low end of the first area, so it's done its thing minimally. But, I'd like more...
MA
MarcinO
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Low of that crazy 40 pips bar at 23 and a nice reaction off that zone so far.
JI
jimkane
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I actually logged back in to make one more post. Look at how the ES finished in the little after futures Friday session! Another dump down, closing just off the new LOD, which was set at 2011.50! Sure, 'they' may come in like gangbusters on Sunday, but wow, is this weak. That change in tenor I got, it was no joke. I am so glad I posted that when I sensed it. I think the 1950's might be next.



