Dow Intraday Charts 04 Oct - 08 Oct

[ChartMan]

New week off to a flying start futs up 50 or so.

 

[FetteredChinos]

hard gap close first thing this afternoon before it decides what to do this week?

hit 10,270 on the futures this morning...

 

[justyn]

Daily chart attached (looking at the longer term view). We failed to make channel bottom so maybe we're headed for channel top at about 300?

10 min RSI & CCI looking quite high though so maybe we need a rest first before we move on up?

As always I'm probably wrong

Justyn.

 

[tradesmart]

The recent ‘higher low’ seems to be encouraging the bulls and are we seeing the beginnings of a large scale triangle on the daily chart…..?

My premature ‘guess’ trend channel on the 4hr chart is holding up for now, and the rising top line, if met, will be above 10400……..

But any call for the index level at the end of this week has to take into account the notoriously unpredictable NF Payrolls data due out on Friday, which could be suppressed the effects of hurricanes etc. (pure speculation though….)

A hard call to make………

 

[trendie]

TS - 10,400, and CM - 10,300 !! All these numbers are UP !!

I triggered another sell today !!

 

[tradesmart]

Trendie.......

The trendie is your friendie imho.............

But after a lot of 'up' we tend to see a bit of 'down'......

Good Luck

 

[FetteredChinos]

dont worry trendie, im short too from 10,260...excessive overnight action. should, stress, should see some profit taking first thing. possible a pop and drop day.

lets hope so anyway...

 

[rasl]

i am short esz04 from friday, 1116 and 1127 looking to add at 1147 if it gets there.
rasl

 

[FetteredChinos]

nice action thus far.

gonna offload short at 10,200 when/if we get there.

after that, im favouring bullish bias until wednesday... but we shall see.

FC

 

[trendie]

SHORT Dow 10,244 ( discretionary ).
stop-loss of 30 = 10,274.

Dont ask !!

 

[FetteredChinos]

trendie? was that a boredom trade?

do you want me to rap your knuckles?

 

[trendie]

trendie? was that a boredom trade?

do you want me to rap your knuckles?

The trade is following rules !!
The Stop-and-Reverse rules I am following on my journal are multi-day.
The trade listed is an intra-day one.

I am using my Area-51-Reverse-Engineered-Alien-Indicator!!
I will identify it by end of week.
Please indulge me in this.

If it costs me points, you can be first in the line to give me a cyber-kick-in-th-head.

 

[FetteredChinos]

lol ok mate.

was just trying to keep you on the straight and narrow..

am curious about this new indicator. does it have a geiger-counter too?

 

[trendie]

lol ok mate.

was just trying to keep you on the straight and narrow..

am curious about this new indicator. does it have a geiger-counter too?

no geiger-counters.

But when it doesnt work, it leaves you feeling you have been autopsied !!
( bet youre gutted you didnt think of that one )

 

[nice n smooth]

Whats the take on the SP500 vs DJ over last week SP fattened up a further 0.5%.

DJ hit by Merk but 0.5% on benchmark seems to much to me ?


Buy DJ and sell SP for the downside

 

[FetteredChinos]

smooth...

S&P has broken out of the down channel, but Dow is pretty much on the limit of it at the moment..

dow leads the S&P doesnt it? i cant remember the rule.

is it Sox, Nasdaq, Dow, S&P?

or is the order Sox, Nasdaq, S&P, Dow?

either way, i think there is a smidgen more upside to come after a retest of 10,200 and a closing of the over-the-weekend gap.

 

[nice n smooth]

both below MA 200 and with Nas bouncing off earlier - so you would think the gap would close.

Though maybe thinking is the problem

 

[FetteredChinos]

if we are below 10,240 at 5pm BST, that is another bearish sign, and i would be even more certain that we are going to close this gap...

 

[Bill]

Hi

Two trades today shown on the chart. A was failrly clear but its exit never came. I rolled the SL to BE and the price went as high as +17. If it had made +20 then I'd have taken the money exit or no exit. Now if I had direct access you could immediately add another 5 point to that..... someday maybe?

The second was rather silly and broke rule 7. The motivation was an RSI & price SR switch, strong resistance @240 and to a much lesser extent the feeling that T1 from the earlier tri had not been met. How relevant that is after so many hours is debatable. To be honest I just got lucky!

+6 today

Regards

Bill

+-15 ema Rules are

1. Short if price crosses 100ema and touches/crosses 100ema+15
2. Long if price crosses 100ema and touches 100ema-15.
3. Short if nd and price is 100ema +15 [or v close]
4. Long if pd and price is 100ema -15 [or v close]
5. Don't trade in the 1st hour
6. Stop losses above/below obvious SR
7. Don't open a trade in the last hour

 

[trendie]

SHORT Dow 10,244 ( discretionary ).
stop-loss of 30 = 10,274.

Dont ask !!

CLOSED out at 10,216.

+28 points.