Where is the Dow & others heading in 2005?

Oil trading near support of 5387 if this breaks we could see a 200point move which should be bullish for the Dow and co.

Finger crossed. That'll be perfect as I'm long Dow and heavily short on oil.
 
good you are still hanging in on crude user, there could be another $1 in it for you! would be a little worried on the dow- all the indices are down now. where's your support level? I'm short since 950 but I'm buying a little option protection as we speak!
 
out of 10840 long at 10800..

just the mech strat left.. plus a short on FTSE and BAE systems (dont ask why!)
 
Yeh thanks but the only thing is its starting to stabalise above $54 as we speak. Not good.

I did get stoped out of one positions but I've got the rest of them and I've added. The Dows not looking good. Might test 10750 and then end flat on the day.
 
Lemput i think I'll put it at 10745.

Its not showing much strength. The S&p and nasdaq are even worse!
 
Nine waves down with much decreased selling on the last two lows. Time we went up to 870? Got to break that falling wedge and then back into the big channel first mind. 810-820 to watch.
 

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Frugi, i'll go with that, i think it will get walloped with vol on the way up though?
 
Oil travelling near the lows of the session as it goes below $54 a barrel again. But the Dow isn't reacting!
 
Oil just near the lows but holding onto support. If this breaks this could ignite a move further south and hope stocks will rise.

I was just about to post that then I got a phone call. When I got back (15mins) it had happened!

Wow

wonderful
 
There's 870 as hoped. My previous chart is Mar when it should have been June - that's why volume is so low. So my point "3" on tiny vol is actually more of a climax, although still less than points 1 & 2. There's a 50% Fib at 878 (Mar).
 
Excellent stuff!

Closed out four of my crude oil positions all at 5290.

Got one more position to go.

What a day!

The DoW not reacting aswell as I would have liked. The nasdaqs reversed from the days losses. Will we stabalise above 850 and poke 10900. Hope so! :devilish: Oils done wonders for me today. Exactly as I expected although it was worrying when it started creeping back a little!
 
crude probably a buy at $53. funds would be reaquiring if they missed the first leg up. watch 52.50 as support though to prevent a deeper move tomorrow.
 
5250 would be rock bottom for todays move!

Probably should have bought some at 5290 although it only flashed at that price for a split second! My orders went through because I had a limit! Not a bad place too have a limit! At the low of the day! Only if I could do that everyday! Dow not reacting as well as I would have liked. Its now having problems with 10850 area. I'm thinking if I should take my 50point gain considering I've had a great day on oil aswell...
 
A test of 10900 will come tomarrow. It will atleast touch that level I feel.

Intel should help the market.

We closed above 10850 which is positive.

Nasdaq doing well if you take in account that we came extremely close to testing1500.

Should be a positive day tomarrow.
 
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