This blog intends to reduce the noise from the markets by the use of Market Profile as well as studying inter-market associations and their relevance to the short-term trend.
Happy Diwali to all Vtrender mates and blog followers!
JG - 5400 may be a bit too much but I did mention on Tuesday that the zone of 5330-5220 was covered in a gap down and there's no reason why it shouldn't be retraced by a gap up.
The only thing to watch out for is ES and Euro are near resistance now. The market was going up for the EU news and now there is a chance of "sell the news" event. If there is no sell off now, I am thinking that this market might keep grinding higher till year end.
@JG what an opening today (5399 high on spot in first hour). The gap down area is covered with gap up. Newton's third law of motion happening without any emotions:)
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17 comments:
Dear Vtrender and Team,
Wish you a very Happy & Prosperous Deepavali
Dear R M,
Wish you and your family a very Happy & Prosperous Deepavali
Happy Diwali to all!
Thanks Prabakar!
Wishing you a Very Happy Diwali.
regards
rm
Wishing all vtrender member and blog reader very happy diwali
Wish you all a very happy Deepawali
Dhanasekaran
Bangalore
Happy diwali to you shai.
Rgds
Rahul Goel
looking at the asia/eu today - tom we might open above 5400 and all 5100pe guys will be in trouble?
Happy Diwali to all Vtrender mates and blog followers!
JG - 5400 may be a bit too much but I did mention on Tuesday that the zone of 5330-5220 was covered in a gap down and there's no reason why it shouldn't be retraced by a gap up.
The only thing to watch out for is ES and Euro are near resistance now. The market was going up for the EU news and now there is a chance of "sell the news" event. If there is no sell off now, I am thinking that this market might keep grinding higher till year end.
@Janak
SGX was trading 5300+
When we opened for Muhurat, we barely saw above 5250
I think we jump the big gap - thats all that happens...
And very likely we will jump it again to the downside a week or say later...
Potentially today's big gap up open could also mark an end to this bull run...
We first have to see how the US markets close the day.
All those who were looking for Diwali day to mark a major top (like last year) need to be punished :-)
Gap over 5400 cash is almost a certainty now...
@JG what an opening today (5399 high on spot in first hour). The gap down area is covered with gap up. Newton's third law of motion happening without any emotions:)
regards
Vinod
Vinod,
Seems like there's not much to do for someone who didn't carry any longs or shorts overnight.
Expect some amount of gap fill but still a strong close today. May be now your 5550 is next to come...
Those who bought into close on Friday will likely be underwater for possibly years to come.
We will traverse 5220 - 5330 with a gap yet again... LOL
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