Dow 2006

what happens next?

what do you think should happen?

anyone like to guess on the outcome of this chart?
 
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Racer said:
what happens next?

what do you think should happen?

anyone like to guess on the outcome of this chart?
Click to expand...

I would guess there is an upwards correction but it looks like an unusual chart to me :)
 
Mombasa, i have a short at 1118.5 June ct. Looks like we both shorted around the same time.
 
both dow and sp running out of steam and looking a bit toppy to me

edited: within ten minutes from posting the above the markets took off with sp currently making new highs, clearing convincingly the 1293-94 area. Will we see 1300 tonight?
 
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solentsurfer said:
Further fall in prices on the cards, well over due IMHO... and in the UK too. Too much 'artificial' wealth, too much credit, high imports, low exports.. we're all doomed!!
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Well, you may be right but don't forget that the market can remain illogical longer than you can remain solvent !
 
thats pretty much what I have for today and I would like it to hit 11223 this week
 
dc,

I don't like it when we are on opposite sides, you're right more often than I, but I see the dow go below 11050 today to test 11,000, and if that gives, than 950 is the next stop
 
mark twain uk said:
dc,

I don't like it when we are on opposite sides, you're right more often than I, but I see the dow go below 11050 today to test 11,000, and if that gives, than 950 is the next stop
Click to expand...
The fact that it keeps testing this stubborn 11150 area looks like a break up is on the cards.. but the fact it is taking so long to get on with it could also indicate it's not going to. For the time being you could easily both be right!! :cheesy:
 
FTSE tumbled today as expected. DOW may take a hit too. I am not suggesting FTSE is the lead here but since FTSE had traded extra one day ( last monday ) it might be worth watching where its going. Having said that testing 11130/60 aread could lead to a new top.
 
leovirgo said:
FTSE tumbled today as expected. DOW may take a hit too. I am not suggesting FTSE is the lead here but since FTSE had traded extra one day ( last monday ) it might be worth watching where its going. Having said that testing 11130/60 aread could lead to a new top.
Click to expand...
hope we're going down today leo, been short for a few days now as we're still overbought at the moment and i had a turning point in friday, hopefully if everything goes according to plan its 10985ish and if that breaks the low 900's then back long for the next leg up.but things never go that smoothly do they?
 
houdani said:
hope we're going down today leo, been short for a few days now as we're still overbought at the moment and i had a turning point in friday, hopefully if everything goes according to plan its 10985ish and if that breaks the low 900's then back long for the next leg up.but things never go that smoothly do they?
Click to expand...

Same here - been sweating it out since the w/e. Still of the opinion that if it does break 11,000 it's another 500 point drop after that.

Tempted to add to my shorts but ......
 
mombasa said:
Same here - been sweating it out since the w/e. Still of the opinion that if it does break 11,000 it's another 500 point drop after that.

Tempted to add to my shorts but ......
Click to expand...
brave man...always follow what you think, im fairly confident there's some strong resistance waiting in the 900's if it does start to fall,but we're still at that stage where it could quite easily jog on up to11200 without too many problems. hope your holding a decent stop/loss ifany, im out if we go above 11150 :|
 
houdani said:
brave man...always follow what you think, :|
Click to expand...

nah - used to do that 'cos I though if i fell into some kinda trance I magically make the right calls :)

Now I just follow the TA. As for decent position, can someone lend me 50k so i can do a £100 a point?
 
mombasa said:
nah - used to do that 'cos I though if i fell into some kinda trance I magically make the right calls :)

Now I just follow the TA. As for decent position, can someone lend me 50k so i can do a £100 a point?
Click to expand...
you mean the magic trance doesnt work? hmm you're obviously not "searching deep enough inside" to find the true power of enlightenment like me. when you do find the power to know for certain every single market turn 100% it all become a breeze, now i wouldnt get out of bed for £100 a point :LOL:
 
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