Dow Intraday Charts 08 Dec - 12 Dec

[mombasa]

frugi, i was thinking that too re ND, but looking at it again, think it's already happened (from the 2 tiny pullback after open?)

now dbltop at 9990, so I is short

BTW, can someone pls tell me abt this triangle 'cos I can't see it

 

[ChartMan]

reverse triangle from 14:52 to 15:21 1 min. :cheesy:
ES vol gone to zero, expect a move.... :cheesy:

 

[frugi]

Mom, if it wasn't for the asc tri on 2min I'd probably be short too, though IMHO the 3rd pk at 9990 wasn't really a new high, though I agree RSI already shows a 3pk div formation.

 

[frugi]

Short ES 1067 on ES/Tick ND and 3pk RSI ND. Stop at 1069 above R2.

 

[mombasa]

Thx chaps,

Now u've scared the hell outa me CM with that vol biz - ready to close short as soon as it moves against me - which it inevitably will

BTW, just a quick reminder to those program traders out there - sell at 10K !

 

[ChartMan]

This is spooky, who's waiting for what????

 

[mombasa]

closed my short for 2 points - this looks like it's developing into a bull flag - keeps testing 9990 tho - maybe those PT trades are gonna be overwhelmed ....

 

[neil]

From 10.30 US time...one minute charts...is that a flag building up waiting for a break up or down?

 

[ChartMan]

Dont think so neil...just sideways consolidation or dithering. RSI dropping and litle price movement...

 

[tradesmart]

I think that there may be a H & S in the offing - mainly because the head appears to have a spikey hairdo......

Perhaps any hairdressers present could give us an opinion on whether this is relevant.......

Mom, they did the programmed selling at 10k the other day......this time it will be programmed buying at a break of 10k.......!

Considering a short, but on the fence for now.......

 

[bgold]

TS, smart thinking!!! I think spot on, currently in consolidation (eg fight between a few bulls and bears), and the crowd waiting for who to win. Thusfar bears are holding firm ==> spikey hairdo! If they can't hold the fortess, I think we can expect a sharp rally on back of arbs covereing shorts, possibly another 50pts from todays' highs to, say 10040.

Let's wait, sit still and see!

 

[Quercus]

Just trying to see if I have any technical ability in this period of eery dullness!
Q

I see I have which is surprising!

 

[SpecialFX]

Well I'm one of the "few bulls" (again ) - long from 9970 (but keeping a tight s/l at 9955) ...

 

[ChartMan]

I thought I saw some movement just then...... but it was QC adjusting his shorts to cover his knees.. :cheesy:

 

[Quercus]

Well things must be boring!
Q

 

[ChartMan]

off we go then...
good while it lasted

 

[SpecialFX]

I would not recommend going short! Its taking a dip before the real move up (IMHO) ... 10K here we come....

 

[frugi]

Out at 1065 for +2. Weak RSI/price ratio and approaching 125MA on 2 min chart.

 

[rossored]

I've been long, long, short, long and short again so far today but I'm totally flat here until theres some sort of confirmation... :cheesy:

 

[SpecialFX]

wise words rossored...

Trouble is everyone else appears to be waiting too