A rather odd day, stocks got hammered again today indicating a risk off sentiment , but it was the risk on currencies that held up the best
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CADJPY is absolutely nuts today. I’m glad I got on the train early enough!
I don’t see it right now. With high inflation yet no significant recession it points to things going up.
UK has seen high wage rises across the board. Energy prices are due to come down before winter so inflation should slow.
3 months ago they were predicting FTSE100 to hit 9000 this year. I think both are unlikely, but FTSE to hit new record highs rather than crash is where my money is.
We ended the week with a big rally in stocks and risk-on currencies
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For the week, Risk-on currencies all had gains will European currencies lost ground
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NZD from worst to first in just 8 trading days
Unless I missed it, I don’t think we have had a long NZDJPY trade in a year
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A mostly red day but very little movement, it is like the market is waiting for something
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Another red day, only the NZD is still positive for the week
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Down day for Yen pairs, things did rally a bit in the final 4hrs and #1 NZD held up best
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Bad day for risk-on currencies but stocks are leaning towards risk-on
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Is it just a pull back or has the market changed direction?
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a mixed day but still very small movements.
I am trying to get a read on stocks, all major indexes are down from their highs
NAS -25%
S&P -15%
Dow - 11%
In 2023 the NAS is up a little, while the DOW is flat
This chart looks like a bear trap, what does everyone else see
I’d agree, that chart looks set to breakout downwards. Maybe it’s that stock market crash we’re hearing increasingly more about.
Gdp in the UK was disappointing, inflation is stubbornly not moving even though it should now. Maybe there’s legs in the prediction, but I don’t see it
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All yen pairs except USDJPY were down for the week
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Hi Dennis. Just discovered this thread and very interesting as someone trying to learn about trading. Thanks for providing the resource. I have a couple of questions and hope these haven’t been asked repeatedly.
What is the timepoint you use for calculating the strong/ weak analysis- is it close of the NY exchange?
Also I was wondering what your approach is to big movements in the strong/ weak index? For examnple with the NZD moving from worst to first in a short space of time- would this lead you to reverse from short to long on the NZD, or do you look at the rankings over a longer time period? Or is the strong/weak index more for assisting with entry points?
Kind regards
Let me see if I have this right, you are that interested in the method / system that you are curious enough to ask a question (spoon feed me) but not that interested or curious to bother to search or read the thread to find those answers?
Good Luck
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Some big green numbers to begin the new week, The market is in a rising stair step pattern, so this could be the start of the next step up
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NZD has been in a trading range for over a year, price is currently in the middle of that range with a current bias to the upside. Right now it is pretty much a coin toss where we go from here. Breaking that range up or down might open up a long term trade opportunity. I like trades I can stay in for weeks, even months
no day trading here
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AUD is leading all Yen pairs today, this current stepping pattern higher is mirroring the same thing we saw earlier this year, that ended in a shart 600+ pip drop. be careful if you are long AUDJPY
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That is a whole lot of green, it must be spring
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