Dow Intraday Charts 08 Dec - 12 Dec

tradesmart

Experienced member
1,286 22
Well, I'm not planning to go long in anticipation of a 'Santa Claus' rally just yet...........! ;)

The expanding range formed by the close on Friday around 9850 looks kinda bearish to me........

9840 might give some support, but after that it's 9800 ish (38.2% fib of the 9585-9940 move)

No data today, but the weak dollar in focus.......maybe the bull's hopes rest with Sir G's utterances that might influence interest rates at the FOMC meeting tomorrow.....

Firmly on the fence for now....... :cool:
 

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lockstock

Well-known member
400 4
5 min deal 4 F. moving EMA's turning +ive- S& P moved above 20 EMA. !! Just an observation- a flying visit to the office :D 14.07 hrs
 

tradesmart

Experienced member
1,286 22
Ha, that hint of PD under the expanding range was the clue - bulls rool ok - (for now! :cheesy: )
 

mombasa

Established member
561 1
short @ 9885 on dbl top now - stop @ 9905
 

SpecialFX

Junior member
32 0
Good luck Mom - although not too much as I'm still long from 9885 from Friday ;)

And still hoping for 9935 (& 10k+ later this week)...

Whats your target - 9820 still?
 

mombasa

Established member
561 1
SFX - right now I'm not sure what's going on - no target - just trying to get out - that little move down got me to break even but I thought it was gonna go down more so didn't close :(

think 9840 is strong support so will be happy if it gets there and bounces.

BTW, got ND as well so can't see much upside from here - but it could be one of those pesky opening ND's !
 

SpecialFX

Junior member
32 0
Not sure whats going on myself now - 9900 is proving trickier to overcome than I expected - may unload some now & load up again if we see the other side
 

Quercus

Well-known member
399 7
Short @ 9890 stop 9910
 

Quercus

Well-known member
399 7
T1 is 9860 T2 9840, -ve div at 9900 plus tick not too strong, lets see what happens now?
Q
 

One Eyed Shark

Well-known member
257 13
Normally I would be looking to short this market now, only concern is that we are bouncing off resistance on the 5 min chart( on what can only be described as a clear bull flag )

Are we going to break through ( c9905 ) or bounce back down in the channel :?:
 

tradesmart

Experienced member
1,286 22
The way that it’s bouncing off the rising 100ma on the 1min chart looks kinda bullish to me just now – however, no position yet, but wouldn’t mind a decent long entry on a pullback……

Possibly anticipation of a market friendly statement from the FOMC, and belief in the Santa rally are keeping it up……..

Some evidence that bull markets do not give ground easily!

Ps – profitable longs on the FTSE/DAX are providing some distraction ;)
 
 
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