Dow Intraday charts 01/12 05/12

ChartMan

Legendary member
5,580 46
ES vol coming back in and pushing hod 1070. Looking sweet. And there I must leave it till later..... you know where the stop is.....
 

lockstock

Well-known member
400 4
Had a better look at all the charts- is that another triangle forming on the Daily INDU? With a target of 9950


Also on the 5 min D4F looks like an INV. H& S- could be too small a time frame to mean anything.
 

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jsd

Active member
232 3
thats one weird pattern on the 5 minute dow at this time, i'll have to call it inverted starship.....
 

anmolway

Active member
249 1
hi everyone, does anybody apply s/r lines to the s&p just to give an indication to confirm the s/r lines on the dow, i mean to say when we have two indices that tend to go more or less in line together and each one displays similar s/r lines then the breakage of these lines will be more meaningful

hope that makes sense.

ps ive also found that the pivot points are also of use on the futures as well as the indices
 

stevem12

Active member
135 1
Anmolway

I trade the YM based on what the ES and NQ are telling me. Several people have sai if you chart the ES and NQ why not trade them, but I like it the way it is and find I get a very good feel for what`s happening.

Steve
 

stevem12

Active member
135 1
Today is a good case in point, todays sell off can be seen clearly on the ES and NQ as a failed breach of yesterdays high, but the DOW/YM gave no clue that this was the case :D
 

anmolway

Active member
249 1
thanks steven, i know exactly what you mean, when the s&p started to fall from 1071 down to 1065 it was clearly seen on the e-mini that the pivot provided support.
shame i didn't trade it though
 

ChartMan

Legendary member
5,580 46
Watch this triangle that is developing..... 60 points on the mouth = 9900++ or 9780.
 

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ChartMan

Legendary member
5,580 46
Following on from the real time commentary, out on the nd top at 9888( and a quick check on ES shows vol divergence) and short at 9885 on tl break and middle peak on the ND top. One more uptick on that first bottom would have been an out, signalling a news spike "V" bottom, and back to par, but it didn't happen( luckily), instead bouncing on 38% to carry on down. Into the bottom at 9840 ( hor support?) and a quick check on ES vol again, which shoed divergence.Out at 9845. Long at 9852, looking to break back up, which never happened, closed at 58..... eventually.What a time waster....
 

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ChartMan

Legendary member
5,580 46
AnMolway
yes, use the ES SR lines to bolster a decision on the dow. You will find that the ES finds support/res at a particular number, but the corresponding dow value may be 5 dow points away( 0.5 on ES). It's often worth letting the dow run the extra 5 points...
Checking the 1 min vol on ES is always very useful as confirmation of TA!
I used to have NQ up as well, but gave it a miss on the grounds of KISS. Far to busy for my old brain. :( I find ES vol the most useful as I can ( mostly ) hit the bottoms spot on. No pun intended.
 

tradesmart

Experienced member
1,286 22
Well, 4th time lucky to break thro' 9900 (and I thought it liked doing things in 'threes'!!!!!! ;) )

Quite happy with the situation (nothing to do with my Dow Comp entry this week of course! :cheesy:)

but it's not over 'till it's over...........

that weak dollar could throw a spanner in the works yet.... :(
 

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ChartMan

Legendary member
5,580 46
Thx Lockstoc.... not wishing to put my neck on the block twice in one week, I thought it more prudent not to put a target on the price to the upside, which was clearly 9938, + 60 from the breakpoint.( or - 60 from the base line which I did put a value on.)
TradeSmart , we did go in 3's... Ignore the "wrong guess" trendline, the next one down touched for the third time, and the triangle broke on the 3rd. attempt at resistance .
So now we're sitting mid channel and there looks to be plenty of room for a push up. ES vol on 1 min chart looks like the sellers got all dried up by 20:30 . If I call 10k by Friday's close, will it be the kiss of death or a perfect call?
 

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ChartMan

Legendary member
5,580 46
Long off mid channel support and es vol divergence- same call as yesterday.....Then a dither at 9900 and a close watch on ES volume saw it diminish to almost nothing- a sure sign of a big move... The opening D/top trend line had provided a support line so staying long was a reasonable choice, with a clear exit on 9900 failure. If you took that loosely as a triangle, it had a target of 9950- which never made it, evidenced by the 3 pk out at 9840 ish. Where to take a short though?... Tough call, but in hindsight , anywhere would have paid off.... If it was going to carry on up, then 9940 would have to go. The first move came nowhere near it...the final move failing on 9940 and along with a D top was the place to go short. RSI ratio had also fallen from 1:1 to 0.5 in the up move. NAsty pullback, but again a quick check on RSI ratio gave 0.5 and the price touched the 100MA and obligingly dropped again, to cover near the close on PD. Quite an easy 100 points ish, but took some thought and care.( plus a bit of luck)
 

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