Dow 2009

[rawrschach]

same here...first time I've actually bought this market...so it's probably the top!

 

[Hercules88]

i know its the dow thread but still, sp500 has broken a pattern and found resistance, a perfect picture for me and that makes me confident that dow will follow

I'd have to agree Chode ... despite what's happening intra-day (altho I expect tomorrow to be slightly negative), we are below critical resistance on the monthly

http://www.freetradingvideos.com/vlog/default.asp?Display=1470#Comments

2:35 into the video should show you the chart I am talking about.

 

[KUTERO]

Stairs of the Dow

 

[KUTERO]

 

[Jason Rogers]

Whilst the charts looked over bought I'm one of those cynical sods who thinks pension fund managers will boost the market to top up their bonuses and the drop will happen early next year...

Bear trap mi thinks...

I'm well confused...

An interesting point.

I was doubtful about stocks moving higher a couple of months ago, but I've learned my lesson trying to pick tops

 

[Atilla]

An interesting point.

I was doubtful about stocks moving higher a couple of months ago, but I've learned my lesson trying to pick tops

Earlier analysis about a month or so ago I had 10400 on my charts... I thought it might possibly be the upper side of tops but it doesn't seem too unlikely now either. :-0

 

[KUTERO]

11.10.2007: max 14280
06.03.2009: min.6470
Fibo 50: 10372 same as 10365
Today max: 10341
"to be or not to be"
Gold:1118

 

[N Rothschild]

dow futures hit the 50% retracement today, sell the farm

 

[KUTERO]

 

[Atilla]

I'm now neutral with no clear direction now.


This may go up to 11,000 by end of year or test 10,000 or even 9000 early next year.

I'm thinking we will test 10,000 first and if it holds then 11,000 may well be in sight.

If 10,000 fails to hold then it is 9,000.


Will watch, listen and wait for next direction...

 

[KUTERO]

hanging man.. !!

 

[Atilla]

Next target 10,000 on DOW...

 

[KUTERO]

An other hanging man..

 

[Atilla]

And another 200 pip drop...

Negative divergence still in play.

Target still 10,000, 9800 and then 9000 even...

 

[Atilla]

I reckon DOW is about to test 10200s again...

Sideways move consolidating on 10000.

My target is still 10,000 sooner or later...

 

[Atilla]

I reckon Dow will test 10250s soon and then rise back up to congestion region 10300-500 and then coast all the way past 10,000 to 9551.

Bollinger bands nicely narrowed on daily charts for a break out (down imo).

 

[Atilla]

Watching this closely now...

We are at approx 50% retrace from the highs (14000s) to the lows (6500s).

Bollinger bands narrowed to 10500-10300 consolidation and congestion is takeing place.

I reckon we will see test of 38% retrace to 9420 at least before we see another upside...

 

[jm99]

yeah atilla, we r coiling nicely now, for a move either way.

The bears r drooling over the 50% fib, combined with the breadth & momo divs and bullish sentiment extremes etc. will be interesting.

 

[Atilla]

yeah atilla, we r coiling nicely now, for a move either way.

The bears r drooling over the 50% fib, combined with the breadth & momo divs and bullish sentiment extremes etc. will be interesting.

Yep patiently waiting for that next move... :whistling

 

[puregold24carat]

Yep patiently waiting for that next move... :whistling

I reckon you are just about right .
My own view is this :

I think it will hold here and meander upto 10500 for first week of Jan 2010 where upon NFP will be the trigger to send it down . Thus will SELL MARCH 2010 with 100 pt STOP.

The target is 8500 .

Then look for market to ' stabilise ' between 8000 - 8500 and here i will be looking to go long for 13000 next up target before year end 2010 - most likely Nov.