Racer
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https://secure.marketwatch.com/news...764-49F5-8B58-5DE23EC523B1}&siteid=mktw&dist=
TOKYO (MarketWatch) - Alan Greenspan has apparently joined the chorus of voices calling for China to let its renminbi yuan appreciate "sooner rather than later."
TOKYO (MarketWatch) - Alan Greenspan has apparently joined the chorus of voices calling for China to let its renminbi yuan appreciate "sooner rather than later."
Racer
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kriesau I don't know where you post has gone, I can't see it?
http://business.timesonline.co.uk/article/0,,8211-1581924,00.html
Death Cross
A crossover resulting from a security's long-term moving average breaking above its short-term moving average or support level.
As long-term indicators carry more weight, this trend indicates a bear market on the horizon and is reinforced by high trading volumes. Additionally, the long-term moving average becomes the new resistance level in the rising market.
http://www.tradingday.com/c/tatuto/movingaveragecrossovers.html
http://business.timesonline.co.uk/article/0,,8211-1581924,00.html
Death Cross
A crossover resulting from a security's long-term moving average breaking above its short-term moving average or support level.
As long-term indicators carry more weight, this trend indicates a bear market on the horizon and is reinforced by high trading volumes. Additionally, the long-term moving average becomes the new resistance level in the rising market.
http://www.tradingday.com/c/tatuto/movingaveragecrossovers.html
User
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I've been evaluating the situation over the weekend. I feel the Dow will move higher this week from Fridays close. 10,000 is good support currently. I do not know how high we could move but 10200 is immediate resistance and then 10370-400 is next level of resistance.
User
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Great charts posted....thanks.
This week should take us higher and we then may fail at resistance of 10370-400 which then should lead us lower towards new lows for the year.
We are seeing increased volatility which does imply that the direction is undecided for the short term. Current range 10,000 to 10200
Great clarification given Joules MM1. Are you suggesting we move slightly higher then sharply lower?
This week should take us higher and we then may fail at resistance of 10370-400 which then should lead us lower towards new lows for the year.
We are seeing increased volatility which does imply that the direction is undecided for the short term. Current range 10,000 to 10200
Great clarification given Joules MM1. Are you suggesting we move slightly higher then sharply lower?
Racer - what's your take on next week ?
The Dow has risen by 54% from the start of this cyclical bull run in Oct02 to its peak on March 7th this year. Over the last 6 weeks it has fallen by 8% from this high and we are back into bear territory. The market is highly volatile and the Consumer Confidence Index on Monday and the 1st qtr GDP figure on Wednesday are likely to be very influential on next weeks price action.There are 6 (20%) of the Dow 30 companies reporting next week - SBC, Exxon, Verizon, Boeing, Microsoft and P & G and they will also impact the Dow.
My view is that we may see a fall tomorrow with an upswing on Tuesday if some of the results and economic stats are positive. This could test resistance at 10200 and possibly 10360 if there is some really positive news over the next couple of days, but then we should see a retracement back to test 10000 afterwards.
I still think that we will see 9850 tested although it is difficult to establish the timeframe.
The Dow has risen by 54% from the start of this cyclical bull run in Oct02 to its peak on March 7th this year. Over the last 6 weeks it has fallen by 8% from this high and we are back into bear territory. The market is highly volatile and the Consumer Confidence Index on Monday and the 1st qtr GDP figure on Wednesday are likely to be very influential on next weeks price action.There are 6 (20%) of the Dow 30 companies reporting next week - SBC, Exxon, Verizon, Boeing, Microsoft and P & G and they will also impact the Dow.
My view is that we may see a fall tomorrow with an upswing on Tuesday if some of the results and economic stats are positive. This could test resistance at 10200 and possibly 10360 if there is some really positive news over the next couple of days, but then we should see a retracement back to test 10000 afterwards.
I still think that we will see 9850 tested although it is difficult to establish the timeframe.
Impact the DOW, well yes I rather think that they will.
Exxon, will most likely have an excellent Q1, with oil prices having been high.
P&G had the Gillete aquisition, however, still a good Q1
So that could nullify any positive or negative earnings, uncertainity and Wall St do not mix
SBC, had the AT&T aquisition, & Microsoft, an unknown.
All in all, who knows.
Dow daily cash currently 17 pts above the close at 10172 - 10176.
Anyone see yesterdays ST Money section article entitled Chartists Foretell Stock Market Slump ?
Chartist Robin Griffths of Rathbones predicting that the FTSE will rise to 5100 - 5400 by the end of May, then trend sideways until the end of the year before falling to 4200 - 4600 in 2006. On the other hand David Schwartz believes that the FTSE will fall to around 4500 by the end of this year. No projections for the Dow but a comparative fall would take it down to around 9400.
Interesting !
Anyone see yesterdays ST Money section article entitled Chartists Foretell Stock Market Slump ?
Chartist Robin Griffths of Rathbones predicting that the FTSE will rise to 5100 - 5400 by the end of May, then trend sideways until the end of the year before falling to 4200 - 4600 in 2006. On the other hand David Schwartz believes that the FTSE will fall to around 4500 by the end of this year. No projections for the Dow but a comparative fall would take it down to around 9400.
Interesting !
FetteredChinos
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10,227-10,260 is my sell region for today/tmr, then down into wednesday.
half a position going on at each level.
didnt see that article Krisseau. do you have an online link flying around the place?
FC
half a position going on at each level.
didnt see that article Krisseau. do you have an online link flying around the place?
FC
Racer
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But isn't that like all analysts.. some will say up and some will say down LOL
I saw some price predictions for a share ages ago and it was staggering the difference, can't remember the exact prices but it was a bit like 50p and 150p for a share priced at 100p
I saw some price predictions for a share ages ago and it was staggering the difference, can't remember the exact prices but it was a bit like 50p and 150p for a share priced at 100p
FetteredChinos
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ta. will have a look in a mo.
currently working on some futures data.. quite enlightening...
currently working on some futures data.. quite enlightening...
Racer
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(Buffett at Columbia University)
"I would like you to imagine a national coin-flipping contest." Let's imagine all 268 million people in the United States are asked to wager one dollar on their ability to call the flip of a coin. "If they call correctly, they win a dollar from those who called wrong." After each flip the losers drop out, and on the subsequent flip the stakes multiply. Each person has a 50-50 chance of calling each flip and approximately half of the people will lose and drop out each round. After ten flips there would be approximately 260,000 people that had successfully called ten consecutive coin flips. After 20 flips, based purely on chance, there would be approximately 250 people that had called 20 consecutive coin flips - a seemingly miraculous feat.
The surviving callers would have over one million dollars each at that point. Press coverage and inquiries about their coin calling ability would increase with each successive flip. Several callers might even attempt to profit from their good fortune by writing books on coin calling, setting up 900 phone lines, or by sending mass mailings or spam Email solicitations offering to share their secrets with intrigued members of the public."
"I would like you to imagine a national coin-flipping contest." Let's imagine all 268 million people in the United States are asked to wager one dollar on their ability to call the flip of a coin. "If they call correctly, they win a dollar from those who called wrong." After each flip the losers drop out, and on the subsequent flip the stakes multiply. Each person has a 50-50 chance of calling each flip and approximately half of the people will lose and drop out each round. After ten flips there would be approximately 260,000 people that had successfully called ten consecutive coin flips. After 20 flips, based purely on chance, there would be approximately 250 people that had called 20 consecutive coin flips - a seemingly miraculous feat.
The surviving callers would have over one million dollars each at that point. Press coverage and inquiries about their coin calling ability would increase with each successive flip. Several callers might even attempt to profit from their good fortune by writing books on coin calling, setting up 900 phone lines, or by sending mass mailings or spam Email solicitations offering to share their secrets with intrigued members of the public."
counter_violent
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Easy to see why there will always be Two sides in any market....the "technicians" know there are further falls ahead....where as the " investor" based group by their nature don't want to see values dropping......interesting times !!
