Yes I am impressed also. BTW DAX not reacting to ES decline that much... ES 60 minute chart ready to bounce/reverse ImO...divergence & very nice looking one <img src=http://elitetrader.com/vb/attachment.php?s=&postid=1645068>
I am lost today. Not seen such strange Dax behaviour in weeks. Confused, not trading any more today. However, my ZB long gave nice profits now after days and days of waiting.
Great job on ZB, sorry I didn't have time to look properly at charts. I think as amateurish as it might sound DAX is waiting upon ES to complete fills to get high together, now that sounded wrong
Selling part of my ES longs at 1554.50... By the way, JSSPMK : The UK is among the countries most at risk of a steep housing market downturn, with property even more over-valued than it was in the US before the recent correction, the International Monetary Fund said on Wednesday. The IMF cut its forecasts for world economic growth next year and warned that if tight credit conditions persisted, their effect on US and European housing markets could be a significant drag on the global economy.
Yes, property is overvalued, so many people can't afford to get onto the property ladder. We have recently lost £20k on a property that was purchased off plan, we sold in time as now these flats are being marketed for £90k less than the original asking price, imagine that for negative equity! And they weren't overpriced if looking at other similar properies, simply demand went out the window and builder marked prices down together with estate agents. Government keeps saying that housing sector still short of properties, what they don't say is that property IS NEEDED AT PRICES PEOPLE CAN AFFORD!!!
That's US housing composite monthly chart, clearly no conviction shown in chart. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1645678>