Dow Jones
MAV
5:8957
20:9581
50:10431
I would go for long for today. If it gonna open at lower than yesterday and keep it till next week.:idea::idea::idea:
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I would go for long for today. If it gonna open at lower than yesterday and keep it till next week.:idea::idea::idea:
Pat494
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Should be near the bottom hopefully
Atilla
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Silver Dragon
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Super Trend Line
Not sure about the head and shoulders, but I do agree there is a good chance we are going down further.
See trend line which extends from 1934 to present.
SD
Not sure about the head and shoulders, but I do agree there is a good chance we are going down further.
See trend line which extends from 1934 to present.SD
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Atilla
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Good evening everyone,
Here is the same old charts again.
Looking at Weekly W1 and W2 charts, I am shocked to see that we have broken through all previous support lines. I appreciate we are living in exceptional times, but markets don't always move this way.
Based on W3 charts, I'm a big fan of Pivot Points as targets and so I have;
R2 @ 11220
R1 @ 9677
PP @ 8800 ish
S1 @ 7236
S2 @ 6339
I feel we will consolidate around these 8500-8800s and possibly attempt 9700s again soon. If 9700 is breached then obviously 11200s. I did see 10200 from previous analysis and this is still one of my targets once the bounce kicks in.
Overall I'm bullish. I really can't see us falling much below 8000 which is likely to be considerable level of support. The upside potential imo is greater than the downside at present.
I also feel the big pension fund players have it in their interest to buy - as their personal bonuses will be based end of year prices and so they will naturally (based on greed) will buy as it has been the case many years before.
Some companies my well be over sold and reflect true value (although I find it difficult to know what is true value these days...) and so it is also possible the private buyers may well move in for the festive season too. I am one of these bodies looking for strong companies with good consistent dividend payments at the moment to start a new share portfolio.
Good trading everyone...
Here is the same old charts again.
Looking at Weekly W1 and W2 charts, I am shocked to see that we have broken through all previous support lines. I appreciate we are living in exceptional times, but markets don't always move this way.
Based on W3 charts, I'm a big fan of Pivot Points as targets and so I have;
R2 @ 11220
R1 @ 9677
PP @ 8800 ish
S1 @ 7236
S2 @ 6339
I feel we will consolidate around these 8500-8800s and possibly attempt 9700s again soon. If 9700 is breached then obviously 11200s. I did see 10200 from previous analysis and this is still one of my targets once the bounce kicks in.
Overall I'm bullish. I really can't see us falling much below 8000 which is likely to be considerable level of support. The upside potential imo is greater than the downside at present.
I also feel the big pension fund players have it in their interest to buy - as their personal bonuses will be based end of year prices and so they will naturally (based on greed) will buy as it has been the case many years before.
Some companies my well be over sold and reflect true value (although I find it difficult to know what is true value these days...
) and so it is also possible the private buyers may well move in for the festive season too. I am one of these bodies looking for strong companies with good consistent dividend payments at the moment to start a new share portfolio.Good trading everyone...
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Pat494
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Monday's market mover
Federal Reserve Chairman Ben Bernanke;
Description
Due to testify on the economic outlook and financial markets before the House of Representatives Budget Committee, in Washington DC;
Usual Effect
More hawkish than expected = Good for currency;
FF Notes
The testimony usually comes in 2 parts: first he reads a prepared statement (a text version is made available on the Fed's website at the start), then the committee will hold a question and answer session. Since the questions are not known beforehand they can make for some unscripted moments that lead to heavy market volatility;
Why Traders
Care
As head of the central bank, which controls short term interest rates, he has more influence over the nation's currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy;
Federal Reserve Chairman Ben Bernanke;
Description
Due to testify on the economic outlook and financial markets before the House of Representatives Budget Committee, in Washington DC;
Usual Effect
More hawkish than expected = Good for currency;
FF Notes
The testimony usually comes in 2 parts: first he reads a prepared statement (a text version is made available on the Fed's website at the start), then the committee will hold a question and answer session. Since the questions are not known beforehand they can make for some unscripted moments that lead to heavy market volatility;
Why Traders
Care
As head of the central bank, which controls short term interest rates, he has more influence over the nation's currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy;
Good evening everyone,
Here is the same old charts again.
Looking at Weekly W1 and W2 charts, I am shocked to see that we have broken through all previous support lines. I appreciate we are living in exceptional times, but markets don't always move this way.
Based on W3 charts, I'm a big fan of Pivot Points as targets and so I have;
R2 @ 11220
R1 @ 9677
PP @ 8800 ish
S1 @ 7236
S2 @ 6339
I feel we will consolidate around these 8500-8800s and possibly attempt 9700s again soon. If 9700 is breached then obviously 11200s. I did see 10200 from previous analysis and this is still one of my targets once the bounce kicks in.
Overall I'm bullish. I really can't see us falling much below 8000 which is likely to be considerable level of support. The upside potential imo is greater than the downside at present.
I also feel the big pension fund players have it in their interest to buy - as their personal bonuses will be based end of year prices and so they will naturally (based on greed) will buy as it has been the case many years before.
Some companies my well be over sold and reflect true value (although I find it difficult to know what is true value these days...
Good trading everyone...
Many Thanks.
The fact is that we are not totally ran away of A Big Bear.
So, It is likely that Down will be below 8,000 again but i don't think it will happen in anytime soon. So, for the time being, let enjoy a baby bull then...:idea::idea::idea:
leovirgo
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leovirgo
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I'd listen to the market and follow what it says. Today, it was telling us "sell, sell sell me please". Market internals were super bearish and the only way to trade (day trade) is to sell.
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