Gear up for the South Pole trek…
Just look at this market take off…
The financial indices are as awkward as a middle of the back itch right now!
They do not want to show any weakness, because deep down, they know the sellers are there to pounce! With this continuation rally (mostly in the U.S.), there is a lack of volatility and volume.
This means that it is just a matter of time before we see a correction.
Of course, if we see a minor correction, that leads the market back below the previous high, and it remains there for 1-2 weeks – we could range!
However, I think when the market turns, possibly 1st or 2nd week in April; it could be a quick fire round catching most contestants off guard.
Levels that I think as of now, that could be the final top.
Dow: 10975 – 11050 (no higher)
Ftse: 5775 – 5800 (no higher)
S&P: 1182 – 1186 (no higher)
GBP/USD (£/$): 1.51 – 1.515 (no higher)
All the above levels are for the next 7-10 days.
For cable (£/$), I see no upside momentum beyond 1.51. The selling was aggressive as it sold off below this point, so any upside resistance will drain very quickly.
The short term target for this market (before the indices will sell-off) is 1.46, but first we must wait for 1.48 to be seen. If so, then even 1.45 could be tested within the next 10-14 days!
Also, BOM have now updated their website.
Everything is still in the same place and not a great deal has actually changed. However, it is looking a lot smoother.
We don’t care, as long as they keep paying out. They can afford to with all the losers they amass from Asia and Australia.
Tens of millions are being thrown away by ‘Gamblers’ all over the world. And us ’10 minute traders’ pick up the left over’s!
Until next Wednesday/Thursday
Get in touch with any queries you have before this point. Let’s keep dong this; everyone can make their living, however ambitious.
Thank you for all great comments to date also, you know who you are!
God bless
Matt $haw
P.s. Since writing this alert, the markets have hit a brick wall. 10950 will be resistance moving forward. If not hit by 5th April again, then 11050 will not be seen and 10,000 will be the next big target… Cable is heading for 1.45!
P.P.S. Please get in touch if you have £1million euro and want to trade a private platform, for guaranteed return of 5-6% per month!? Email: fixedoddstrader@aol.com
P.P.S. Personal Training, 1-1 mentorship, please email: fixedoddstrader@aol.com
I will mentor you for 12 months, after meeting personally for the day!
