Where is the Dow & others heading in 2005?

[FetteredChinos]

erm, declining dollar and a crude oil spike upwards.

together not great news for the US economy.

also something of a technical sell off on the breach of 10730 (last weeks low)

 

[mpjordan]

Today? up or down, answers on a postcard...

 

[FetteredChinos]

dear MP.. weather is lovely here. kids are enjoying the waterpark, and 'er indoors has sunburnt her shoulders.

Dow is going up today, after an early dip.

but after yesterday's misbehaviour, who knows...

 

[bast3k]

imho the big sell off has just started. every bounce i'd try to open new short positions

 

[User]

Down.

 

[User]

I agree with bast3k, any bounce in the market and I'd just be looking to sell more.

 

[roguetrader]

We do have trendline coming into play on the Dow from Oct 04 though I wouldn't like to rely on a lot of buying coming in to defend that.

 

[FetteredChinos]

oh, dont get me wrong, i still think this puppy is going down.. but for today, im looking for a bounce up to 10680-10700, and then down...


fc

 

[peterpr]

just wondering.. the decline on the dow caused by some sort of bad news?

Well, as we should all be only too well aware, news can influence price disproportionately to any intrinsic content. - as they say. But nothing of real note yesterday - just the world digesting last week's Big Al testimony on the US deficits and interest rate + further news about prospective Asian diversification away from US Dollars. Net result - Dollar down, US Bonds down, US Equities down, Euro up, Gold up, Oil up - and more of the same to come if you ask me. There's mounting evidence of serious problems ahead for the US economy (and that means the UK and everyone else too) It's beginning to threaten all that 'irrational exhuberence' about the US stock market me thinks.

 

[FetteredChinos]

off we go again...

fastest finger first..

 

[FetteredChinos]

looks pretty much like a long off the open for this 1st stochs gubbins..

mechanical strat still -60 underwater (sigh)

 

[FetteredChinos]

long 10654...

fingers and everything else crossed..

 

[jonnyy40]

It's all these people using your systems.They've put the mockers on it

 

[FetteredChinos]

i hope no-one is using them after yesterday lol....

im only fwd testing this 1st stochs stuff...

the mech strat is pretty solid, IMHO.

famous last words..

 

[bast3k]

long 10654...

fingers and everything else crossed..

it's going to be very difficult to cross 10660 imho...

 

[FetteredChinos]

its giving it a damn good go though

 

[User]

True, but it seems like its got a handover from yesterday...

 

[DarthTrader]

True, but it seems like its got a handover from yesterday...

I know how it feels!!

It definately appears to be trying it's hardset to get up to 10660 or is it hanging on by it's finger nails before it falls off the proverbial cliff??

 

[FetteredChinos]

ok, 10680 is danger zone time...

if it goes, we may see 10716 before early tmr...

from then on, i would favour a short above 10700..

 

[frugi]

Looks like a 2B on the 5 min. Will she drop from 675 now?