Where is the Dow & others heading in 2005?

Thanks for your links....goodluck with your learning...

The Dow now of the session lows which was around 10300.......

How we will finish on the day I can't be certain as volatility has been making the maket jump and fall but at the same time..................

I believe we could well breach the days lows and which could lead us to a steeper decline.....that is the impression I'm getting from the chart so far.......

I'm still in the short I entered at around the time of the 'bomb' news.........
 
my feeling is we will take out those lows. I am short so being a little hopeful, it would take a break back above 10350 to make me question the move. Whatever happens this market will go either way tomorrow. payrolls= gamblers best friend.
 
Was expecting a sell down but obviously not like that. The internal indicia upclose obviously pointed to asmall retrace so the "news event" gave it momentum.

Now looking for a small completion in the afternoon bounce beofe the pattern goes back down to complete a larger (what should be) a fairly simple zigzag late friday/early monday.

the markets have displayed some good fractures and panic buys along with panic sells. The downtrend is now overlapping in both the SPX and DJIND so the next genuine pass of the recent lows (1136 SPX) is likely to pick up speed and breadth. The bad news is now going to settle some lingering doubts for many fundamentalists (accounting wise) so next week will be a good educative period.
Click to expand...


Great post
 
payrolls= gamblers best friend.
Click to expand...

I feel the jobs number will be weak.....but how the market will intrepet the data I simply don't know.......I expecting the Dow to make new lows for the session soon.....Should we see the 10260-70.....well it'll simply be interesting and if we are able to wipout yesterdays gains as posted yesterday then that would be indeed overall extreme bearish........
 
am with you user. i see a low number but couldnt begin to explain how the market will react. wild swings at the moment, you just have to be disciplined I guess.
 
Bullish Case

possible retest lows at e
bearish case put last sunday and still in play elliott wise
regards
wellshot
 

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Well we didnt breach the lows for the session, we did however claw back half the days losses.

Still we are under 10370-400 area. We may test that area tomarrow before dropping down...

My trade is gaining but I'm not sure if I'll be holding the position before tomorrows decision.....

Interesting to see the euro sitting tight at a pivot area of 12950......the data should provide it with some definate direction tomarrow...........favouring upside.....
 
mofo said:
Does that include or exclude you, Jonny ?
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Of course not.

Four tips to spot losing traders.
1/ Losing traders accuse others of losing, successful traders couldn't give a toss whose winning or losing.

2/ Losing traders are the ones worried about the % of traders that lose. Successful traders couldn't give a toss what % lose.

3/ Losing traders talk about breakeven, there is no such place, you're either winning or losing. You would have to be a successful trader to run an account at breakeven because it would require you to win on demand to offset your losing trades

4/ Losing traders are the ones that need to convince other people they are successful, successful traders don't care whether you think they are successful or not. It doesn't affect the bank balance.
 
SOCRATES said:
Yes, not opinion, views.
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Semantics. According to the dictionary:

View: somebody’s opinion on or interpretation of something such as politics or religion

Opinion: the view somebody takes about a certain issue, especially when it is based solely on personal judgment
 
wellshot said:
possible retest lows at e
bearish case put last sunday and still in play elliott wise
regards
wellshot
Click to expand...

Hi Wellshot

Great chart, if that retest at (e) occurs do you have a likely timeframe for that?
Apologies if its already on the chart, but its not come out that clear on my screen

Personally, am still hoping to see low 10500's beforehand.
 
well the big day is here at last..

i dont want to alarm you, but we could well see a 150 point+ down move today.

my rationale..

1) last friday's close was 10,194. we are currently still 150 points above that, and havent really tested anything below it all week.

2) the cycles are pointing to an early dip today at the very least. this would coincide with shyte payroll data

3) if we get an early dip, it is likely that 10,300 support will get taken out, leading to further technical sell-offs, perhaps before a mini recovery into the weekend

4) my dow comp entry is at 10,180 :)


on the other hand, yesterdays action, with the successful re-test of 10,300 and then moved back up to a more neutral 10,350 level might suggest that the Big Boyz were using 10,300 as an opportunity to buy in cheaply before today.

so in summary, it could go either way. logic suggests a fall, but suspicion points to upside.

ive my orders in (stop at 10,450. TP at 10,190) and im gonna sit on my hands as it unfolds.

good luck everyone,

may the Bourse be with you. :)

FC
 
User, what are you goin' to call this thread next year? O.K., lets say you can't just replace 2005 with 2006. Come on matey snaz it up a bit? Its a top thread, the best arguably. Any thoughts? RB.
 
RUDEBOY said:
User, what are you goin' to call this thread next year? O.K., lets say you can't just replace 2005 with 2006. Come on matey snaz it up a bit? Its a top thread, the best arguably. Any thoughts? RB.
Click to expand...

oi, no arguing!!

im voting for.. "where are the others, as well as the dow, heading in 2006"

putting a bit more funk in its trunk, i feel.

FC
 
Come on FC, you can do better than that! Right no laughing when my back is turned...what about...about...i can't say i'm to shy and thin skinned!
 
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