End of Day Dow forecasts

[Pat494]

OOOps got it badly wrong yesterday. More of a poop and scoop day. Back to paper trading for a while.

 

[roguetrader]

Interesting setup this morning, futures holding steady on good employment data. Gap and crap or gap and go?

 

[maxpain]

Interesting setup this morning, futures holding steady on good employment data. Gap and crap or gap and go?

Think this is over for some days at least. Retest of TLs, oil up, dollar up, - DAX, ES04Z including several sector indices are all in a top formation. (short)

 

[Epsilon]

The Dow is very over bought at the moment. A wave 4 Elliott correction looks probable with a wave 5 thrust up to roughly 10470 before a larger correction is seen.

 

[Pat494]

Most of the weekly competition bods favour up this week.

 

[Epsilon]

The Dow has formed a corrective pattern encompassing waves A and B. C will be the drop - possibly tomorrow before it has a go at 10450+

 

[Pat494]

Analysts see some upward movement in the Dax and lower oil prices.

 

[axthree]

I really did not expect the recent generosity of the dow.
I had convinced myself that a small surge would be followed a couple of days after the election by a drop.
Consequently I only took about half the profit I could have done. After three days I told myself "This can't continue".
NEVER TALK TO YOURSELF AND BELIEVE WHAT YOU'RE TOLD.

 

[jackjones]

hi, can anyone tell me what would be the best settings for cci and rsi on the 1 hour chart?

 

[Pat494]

Jack Jones
Usual settings are rsi 14
cci 150
There are loads of posts on this subject on the search facility.

 

[Pat494]

Another sideways day I anticipate. With a bit of downside hopefully (Dow comp??)