LONG TERM CHARTS

With all the "China Trade War tweeting" being done by TRUMP (makes you wonder if he is gaining financially from this ;) ?)

There will never be a deal that satisfies both sides.

However, with the markets dominated by Autobot trading - it has made for difficult trading conditions especially if you look at longer-term trends.

So LOOKING at very long term charts can help with the BIGGER picture

DAX  weekly
A bit speculative but price action so far is playing along.

Even LONGER term below

Next posts DOW, NDX and FTSE

Today

Bad news out of Europe and bears get sucked in again !

FTSE 30 minute chart

possible inverse head and shoulders neckline 5920 target 6000

NDX daily chart
The Nasdaq has been a leader in the equity rally.
Looking at past rallies on the daily chart we can see that we are either nearing a top (UNLIKELY)  or (MORE LIKELY) a minor correction of 5-7 % before the rally continues up

Especially as we have come out of a LARGE consolidation lasting almost 8 months.  A 5 % correction would retest the break out level.

Strategy: take profits on longs, wait correction for re-entry
Nimble : short on strength, for short term trade

Quiet Xmas markets

With Xmas only 4 days away things are quiet but mildly bullish...

here's a 4 hr chart of the DOW with a bullish inverse head and shoulder Neckline at 12230.. and if we bust through that and a possible retest, target could be +1000 points higher...

Maybe not before Xmas but could be for Q1 2012

DAX and FTSE have also broken out of recent down trend which could have been FALLING WEDGES..

SOME more negative divergence CABLE

Shorted at 16210 stop 16320 open target...

If we do break higher could be an IHS formation ..
best seen on weekly chart

Of course being weekly chart important to see a confirmed break out and retest of theneck line..to avoid false breaks.