Dow 2008

[breadman]

Jeez! That's some prediction you've got going there, breadman. You're not related to Mystic Meg, are you?

not all today over the next 5 to 7 days.
not related to mystic meg but alot better than her at guessing where the market is going.

 

[Atilla]

not all today over the next 5 to 7 days.
not related to mystic meg but alot better than her at guessing where the market is going.

You have my vote Breadman. Super call mate.

Well already in +ve territory. About to leave work now so feeling good vibes.

Good luck everyone. :clover:

 

[Pat494]

Up from here ?

 

[Pat494]

This up/down chop is murder on stops !

 

[Dinos]

yup, stops an necessary "evil", times I have been stopped out, only to see the bugger carry on where I expected it to go

 

[Pat494]

yup, stops an necessary "evil", times I have been stopped out, only to see the bugger carry on where I expected it to go

Oh yes !
Ever get the urge to defy standard wisdom and risk it ?

 

[francisfinley]

all over the shop!

i traded this morning, been out all day, was fearful id missed the inventory party. nout on meh.
FLAT!!!!! rangey... no great moves.

 

[Atilla]

all over the shop!

i traded this morning, been out all day, was fearful id missed the inventory party. nout on meh.
FLAT!!!!! rangey... no great moves.

I've been stopped out too. What a shame...

But the fall to 11420 is sobering.

This is currently below my pivot point of 11560 and MAs pointing down. If we don't break above 11500 I will switch sides and short with a targets of

S1@ 11330 and
S2@ 11236

Needs a close eye this one. Maybe a smart move to stay flat. :whistling

 

[francisfinley]

I've been stopped out too. What a shame...

But the fall to 11420 is sobering.

This is currently below my pivot point of 11560 and MAs pointing down. If we don't break above 11500 I will switch sides and short with a targets of

S1@ 11330 and
S2@ 11236

Needs a close eye this one. Maybe a smart move to stay flat. :whistling

oil is bouncing in a range btw 107.5 & 109.

id be inclined to say oil has more power but the dollar is on one...thus commodities are dropping like an essex girls knickers. need a clear signal from mr oil that hes not going to that $98 and i think everyones mind is on opec saying 100 is low enough...

 

[breadman]

11420 to 11380 is a very important area to hold if we are going higher, it's the last bit of support i see.If we have a hourly close below this area i think the top is in and we are heading to the July lows between now and the election in America.
11420, 11423 and 11425 show up on 3 different patterns I look at so all is not lost for the up side yet.

 

[Dinos]

Gone Long DOW 11465

 

[Dinos]

Closed half at 11485 (+20), stop on remainder to b/e

 

[Dinos]

Closed 2nd half @ 11495 (+30)

 

[Atilla]

Short @ 11470

 

[Atilla]

Short @ 11470

Another stop hit and this time at -20 cost...

I still favour the upside. Markets determining direction but the MACD looks well over sold.

High volatility and sideways move since middle of July is not helping.

Good trading everyone.

 

[francisfinley]

all over the shop!

i traded this morning, been out all day, was fearful id missed the inventory party. nout on meh.
FLAT!!!!! rangey... no great moves.

whoops : crude inventory is tomorrow due to the labor day ********.

 

[Mr.J-Arthur]

I think today will be interesting. We've got factory orders and ADP unemployment coming down the pipeline.

 

[ralph197]

The daily swing chart says change of trend at 11289.

 

[breadman]

Atilla,
i also have a major trend change coming on the 9th /10th/ 11th or 12th. This time period is 377 days from the 14th of March 2007 low which was a major low. It is also 233 days from the 9th of October 2007 high which was a major high. I think it will be a high somewhere between 11920 and 12080.

I still think their will be a change of trend on these dates but it looks like it could be a low instead of a high.The Nasdaq is only 40 points from it 15th of July low.After making a high on the 15th of August which was one of my previous turn period dates.If the market does somehow bounce from here it is unlikley to go above the 11700/11740 area.

 

[Atilla]

I still think their will be a change of trend on these dates but it looks like it could be a low instead of a high.The Nasdaq is only 40 points from it 15th of July low.After making a high on the 15th of August which was one of my previous turn period dates.If the market does somehow bounce from here it is unlikley to go above the 11700/11740 area.

I've just gone long @ 11270, SL @11250.

There is some consolidation here based on 1 hour and 10 min charts. Also, the pivot point S2 @ 11369 is well passed so I'm thinking these falls are over done.

Bit riskey but if V bounce does come I'm prepared to risk 20 for it.