Day Trading & Forex Forum

gkron

Hi,
Are these indicators for the Dow Futures or the actual Dow Indicies. I trade the Dow futures on the floor of the CBOT.
Thanks in advance,
gkron

indrajit_16

Hi GKRON
This is for the Dow spot. As future the spot, u can use them safely.

Regards

Indrajit

indrajit_16

Sorry for typo error. Read - as future follows the spot

indrajit_16

Stocks witnessed resistance at higher levels to close mixed on the day. Fears of an imminent rate hike and confusion regarding TARP payback findings counteracted great earnings news from Texas Instruments. Moreover an unclear sentiment emerged from a House Panel appointed to approve derivative regulations and signals from the Treasury pit of a pending rate hike further weighed on stocks. The DJIA closed down marginally to 8763.06. The mid-range close sets the stage for a steady opening on Wednesday.

Dow Pivot Levels For Wednesday 10th June:
R3 - 8880.65
R2 - 8841.95
R1 - 8802.51
Pivot - 8763.81
S1 - 8724.37
S2 - 8685.67
S3 - 8646.23

Dow Quick Technicals: Cheers to the bulls, it was the third consecutive day that the Dow closed above its 200 DMA. Trade Triangle too shows a strong uptrend in the Dow as it has scored +90 points on the rating parameters. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends this spring's rally, the 233 Day EMA at 9072 is the next upside target and above it the Dow will target last January's high of 9175. Closes below the 21 DMA at 8528 would confirm that a short-term top has been posted. First resistance is last Friday's high at 8900. Second resistance is 233 EMA at 9072. First support is the 5 DMA at 8729. Second support is the 200 DMA at 8682. Overall, the Dow posted an inside day today, it indicates an explosive move may take place either side on Wednesday. So far I cast my vote for that move to be on upward side .

Regards

Indrajit
Analysis On Indian And US Stock Markets, Free Nifty Trading System, USA And UK Index Charts

kaisen

Any thoughts after the event?

indrajit_16

Sorry, Kaisen, was out of my desk for last 7 days. So could not reply u in time. The result is already in front of u in the mean time.

Stocks opposed a three day losing streak on Thursday on the back of positive economic news from the job, confidence and manufacturing figures. Jobless claims had the first decrease since January, the Confidence Board's index of leading indicators climbed, and the Philly Fed Report indicated a slowing in the decrease of manufacturing. These positive signals triggered wide spread buying among the sectors. However, President Obama's financial reform measures were met with resistance as Treasury Secretary Geithner, struggled with direct answers to the law makers questions. Stocks closed mostly higher with the Dow advancing +58.42 to 8555.60 due to short covering as it consolidated some of this week's decline but still remains below the 21 DMA at 8591. The high-range close sets the stage for a steady to higher opening on Friday.

Dow Pivot Levels For Friday 19th June:

R3 - 8628.75
R2 - 8603.97
R1 - 8579.78
Pivot - 8555
S1 - 8530.81
S2 - 8506.03
S3 - 8481.84

Dow Quick Technicals: Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible in near-term. If the Dow extends this week's decline, the last swing low at 8221 is the next downside target. Closes above the swing high at 8911 would confirm that a short-term low has been posted. Friday's first resistance is the 21 DMA at 8591. Second resistance is the 13 DMA at 8616. First support is Wednesday's low of 8461. Second support is the last swing low at 8221.

Regards,

Indrajit
Analysis On Indian And US Stock Markets, Free Nifty Trading System, USA And UK Index Charts

indrajit_16

An extremely pessimistic economic forecast for 2009 from the World Bank smashed stocks to lower levels on Monday. The bank is expecting growth to decrease by 2.9% shaking confidence among traders. The volatility index VIX surged up over 13% intraday as traders started hedging to protect their holdings with derivatives. The Dow closed 201 points lower on Monday as it extended last week's breakdown below the 21 DMA. The low-range close sets the stage for a flat to lower opening on Tuesday.

Dow Pivot Levels For Tuesday 23rd June:
R3 - 8677.99
R2 - 8608.41
R1 - 8473.71
Pivot - 8404.13
S1 - 8269.43
S2 - 8199.85
S3 - 8065.15

Dow Quick Technicals: Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If the Dow extends today's decline, the last swing low at 8221 is the next downside target. Only closes above the 5 DMA at 8492 would counter the bearish outlook in the market. Tuesday's first resistance is the 5 DMA at 8492. Second resistance is the last swing high at 8877. First support is today's low at 8335. Second support is the swing low crossing of 8221 .

Regards,

Indrajit
Analysis On Indian And US Stock Markets, Free Nifty Trading System, USA And UK Index Charts

indrajit_16

Existing home sales missed analyst's optimistic estimates leading stocks to a choppy, uncertain session after yesterdays aggressive sell off. Boeing (down by 6.2%) led the selling after announcing a delay in their new 787 aircraft. The home building sector climbed despite the lagging existing home figure. The U.S. stock indexes closed mixed but mostly weaker today with the Dow losing 0.19% to close at 8322.91 with a narrow range-bound trading.

Dow Pivot Levels For Wednesday 24th June:
R3 - 8451.56
R2 - 8411.23
R1 - 8367.07
Pivot - 8326.74
S1 - 8282.58
S2 - 8242.25
S3 - 8198.09

Dow Quick Technicals: Bulls are fading. Uptrends on the daily charts under serious threat. Traders will closely examine the wording of the Federal Reserve's FOMC meeting minutes, which are to be released on Wednesday afternoon. Stochastics, ADX and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If the Dow extends this week's decline, the last swing low at 8221 is the next downside target. Wednesday's first resistance is the 5 DMA at 8435. Second resistance is the 21 DMA at 8530. First support is today's low at 8286. Second support is the last swing low of 8221. Overall, expect some quieter trading in the stock market in the coming weeks, amid summertime doldrums .

Regards,

Indrajit
Analysis On Indian And US Stock Markets, Free Nifty Trading System, USA And UK Index Charts