Things have been a bit frantic since the last Blog post, both for myself and the markets! As well as speaking at the IX Investor Show and the Trading Symposium I have also finished the first draft of my up-coming book; “Candlestick Charts. An introduction to using candlestick charts”. I just hope there isn’t someone round at Harriman House right now pulling their hair out wondering how the heck they’re going to make it into a book!
The events were well attended and both pulled in a crowd of around 200 people to listen to my ramblings on Candlesticks.
Having spoken in front of these sort of numbers in seminars, surely today’s appearance on CNBC would be a walk in the park.
But my first appearance on TV turned out to be a rather nerve-racking experience! Let’s hope that was just because it was the first time, and let’s hope they invite me back again.
The other thing I hope is that the calls I made work out okay!
In the Eurostoxx 50 Futures I (rather nervously, with a waver in my voice) said that last weeks break of 3387 spelt trouble, especially since this level turned resistance and capped upside subsequently. This is a key line in the sand and if we can retake this level the hounds can be called off. Otherwise things still look very bleak.
In CME Group Wheat (still called CBOT Wheat by most people despite the recent merger) we’ve seen a failure at a key Fibonacci level (955) in recent days and this now looks set to head lower to retest the year’s low at 730 (trading 845 at the time of writing). I had managed to gather myself a bit by this time and was even starting to make some sense!.
Finally I looked at the Eurex Bund (by this time I was breathing normally and everything) where the short term has been a tad messy, but the Medium Term outlook remains firmly skewed towards the Bears.
Overall I think it went well, and I’m looking forward to the next time I get on there, and this time I’ll tell people beforehand. Today I was more than happy to keep it quiet!!!
Here’s a link if you want to view it…