I'm long stocks on a rising I1 (accelerating after today). The stock market is still below both the SP futures 30-minute M/A and the DJI critical M/A, which must be broken to the upside by 1.35%. This threshold will not change as long as price stays above, so this computes a 12,326 all-clear for longs.
Being long NQ I have a stop in place, computing and adjusted to the 15-minute, 67-unit M/A(green line) minus .2%. The longer M/A was the reason for my choosing NQ to go long last night.
I'll be leaving for Albuquerque at 11:30 ET for Margie's doctor appointments. I'll post until then.
Please state again how long I1 will rise. Thanks.
ReplyDeleteMike
Steve
ReplyDeleteIs the long dollar, short EURO worth looking at?
It appears that we saw 5 waves down on the five minute chart overnight with the dollar (2am), just wondering if that is the final push lower and we can expect a higher dollar.
DennisP
Mike, the current I1 chart is in the Weekly Commentary (first chart).
ReplyDeleteDennis, I'll post a 10-minute M/A chart of DX and the envelope to generate a buy signal.