Where is the Dow & others heading in 2005?

[User]

We had to break the range when I just popped out!

So we're moving lower!

A quick couple of questions:

Do we hit 10100? Do we close above 10100? Do we close below 10100?

 

[kriesau]

Go out for an hour and the market drops 50 pts !
I'm not paranoid but I'm sure it was just waiting for me to do that before it started it's journey south :-(
Got my last short in for the day at 10139 but I think that I missed the boat !

 

[Racer]

'm not paranoid but I'm sure it was just waiting for me to do that

They have cameras in your trading room didn't you know that?

 

[User]

Go out for an hour and the market drops 50 pts !

Same thing happened to me!

Oh well...

 

[Racer]

Yesterdays futures move out of hours was a real cheat.. make the shorters cover and then get people to buy as well yesterday and today, wait all day long then wham...

 

[Bluewave]

...and.....101 points. That'll do me. Have a good weekend all

 

[Racer]

2/3 of yesterdays nas gains now wiped out,
50% of S&P
and 50% of Dow

 

[User]

Yesterdays futures move out of hours was a real cheat.. make the shorters cover and then get people to buy as well yesterday and today, wait all day long then wham...

Sounds about right....

We've hit 10100...but do we close below or above....

 

[Slapshot]

Strike a light! I suppose that answers the questions as to whether we're heading to 10360! But then again....after the last 3 days anything is possible! LOL!

 

[Racer]

The more I look the more that futures move yesterday really stinks!

Get the suckers with a small amount of money.. easy to move the futures out of hours like that so you can get the market higher

call me paranoid now!

 

[tradesmart]

Earlier:-
the futs have observed support today at the 190 ‘W’ apex for now…..but let's see how things develop - more "morphing" could occur.......

Yes - morphed into a descending bear triangle with only one outcome possible....a big tanking..

This is going down to test 10000 again imho, to fill that huge gap left from yesterday's bullishness....The third test down there could well fall straight through and uphold the 9700 target mentioned previously......

I'm a bit cynical about these mega rallies now - that's the second one in 10 days that has just provided the big boyz with higher prices to sell into........

 

[kriesau]

Same thing happened to me!

Oh well...

Got 2 more shorts in at 10107 and 10067.

 

[Racer]

This is going down to test 10000 again imho, to fill that huge gap left from yesterday's bullishness....The third test down there could well fall straight through and uphold the 9700 target mentioned previously......

I'm a bit cynical about these mega rallies now - that's the second one in 10 days that has just provided the big boyz with higher prices to sell into.

Yes, and a real dcb, we are going a lot lower and yes 9700, but we will no doubt get more suckers rallies to lure the buyers so they can sell to them

 

[counter_violent]

Seems clear T S , also ties in nicely with Chartmans views on expanding wedges , when he says breakouts from these can be vicious.....in this case basing at 10,000.....should almost certainly hit 9,700 if broken to the downside ........ so maybe next week we see a significant break from 10,000 .... should be some nice easy money to be made short !!!!

 

[Racer]

Push through 200 simple then test the exp 200 on the S&P, fail and fall through simple.. ouch

 

[trendie]

Yes, and a real dcb, we are going a lot lower and yes 9700, but we will no doubt get more suckers rallies to lure the buyers so they can sell to them

for a dead cat, it is surprisingly lively !!

 

[User]

I asked the question....will we hit 10100 today....maybe I should have asked if we will hit 10000 today....

The media is great as well....It was all so rosy yesterday... I'm not complaining I had an incredible day...today though I missed my entry as the market had to move when I popped out....oh well I got out of Google and that was a smacker of a trade....Tradesmart you did excellent on that one!

Yesterday 200point rally but nothing changed the actual picture as racer said....everything was still the same....so what is different from yesterday in comparison to today?

Nothing really....

People were saying yesterday that this inflation and rate talk is over exaggerated....well what are they saying today?

Definitely was a 'dead cat bounce' and yes we probably will test 10000 again.

On the first test of 10000 I said that we will travel in a range from 10000 to 10200.

When we test 10000 again what will happen? Bounce up again or 9800? :arrowu: or :arrowd:

 

[tradesmart]

As CV notes, we have an apparent expanding triangle setup; inherently bearish and very volatile as the attached detail.........

 

[counter_violent]

On for the Turkey next months DOW COMP ......anyone gonna stop me !!

regs counter

 

[tradesmart]

oh well I got out of Google and that was a smacker of a trade....Tradesmart you did excellent on that one!

Well done User - I didn't think that it was going to stay above $225 for very long - now $215ish..!