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postman
I think you have a few people behind you on that one. Do you have a theory / chart behind that.
My take is Dow is in a channel 1000 points wide its going down now and will go up year end. Simple as that.
I think you have a few people behind you on that one. Do you have a theory / chart behind that.
My take is Dow is in a channel 1000 points wide its going down now and will go up year end. Simple as that.
SuddenDeath
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we are close to generating "long term sell signal" on dow, they have been very reliable of late
past 3 weeks each weekly dow close has been within few points of the weekly highs, today we are going to break that pattern, weak weekly close will find sellers
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postman
Ftse and Dax closed UP on the week 14 and 22 points.
Dow weekly close was 15,509. Just saying.
Dow weekly close was 15,509. Just saying.
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postman
Do we break 580 cash on Dow ! 
Maddog79er
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Yes the 30 min RSI is only just retreating from 70. The market is overbought and people are starting to believe taper may come earlier. There is far too much optimism amongst the bulls and a pull back is inevitable. I can see further downside for most of next week before a rise again. I think we will end the year 5-10% higher than we are here.
SuddenDeath
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who thinks dow closes the day down?
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postman
I am really torn between 15,599 and 15,520.
Anything above 15610 tonight and its the high one. If we dont break 15,610 then its the low one.
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postman
Do we break 580 cash on Dow !
Oh yeah baby.
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postman
I'm flat by the way. This Dow nonsense would do my head in.
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postman
I'm short at 586 with a 30 point stop.
Maddog79er
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Nice trade
what is your limit? That jump is only going to attract more sellers
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postman
Nice trade
I think below 540 and above 509. I'm aiming for 520 which is 30 risk 66 reward.
Maddog79er
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I have just added to my short at 598
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postman
Someones trying to 'fix' the hourly close to look good.
Gotta keep those chart readers guessing.
Gotta keep those chart readers guessing.
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postman
Not as much selling as I would like to see.
SuddenDeath
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wonder if la aiport shooting caused weakness in dow?
Maddog79er
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Not as much selling as I would like to see.
That makes 2 of us. I'm going with my gut on this one though... This is the beginning of a correction. We will go to 15000 before the move back up. There isn't much room left for it to go up but my stops are nice and high. So I shall sit and wait.
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postman
It's 1pm in New York - they're all eating their Bagels.
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postman
It's 1pm in New York - they're all eating their Bagels.
Oh no - GMT - its 2pm this week.
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postman
So thats the Hourly, and the 5 minute chart fixed. Now for the 15 minute then DOWN.
