Dow Intraday charts 24/11 - 28/11

[tradesmart]

I think that you will very likely be proved right sidinuk........

There was some ND setting in on RSI/CCI at the end of play last night which suggests that we may consolidate a little before another big push upwards............ :arrowl:

Also, we have very rapidly reached the 50% fib point of the 9900-9585 retracement, which may require a pause for breath....

futs are little changed......

edit - a big serving of potentially market-moving data today with GDP at 13.30 and Consumer Confidence at 15.00 - they've been selling the news recently, perhaps they'll buy it today just to be contrary....... :cheesy:

 

[lockstock]

Evening all,

Still jigging about with Prorealtime.

was looking for a sell off or pullback in the last 30 mins.

Interesting MA called end point, a bit like Indexia's MA in Updata,
in the 5 min chart below see how the black 10 EP MA wraps over the action @ 9790.

 

[ChartMan]

Looks that the channel guess has started out good, with the action staying in the upper channel. RS Switch in RSI = more up?

 

[ChartMan]

Text later. NTL ISP down all last night.

 

[jsd]

Is anyone noticing the potential of the daily forming the right shoulder in h&s pattern on the dow? i note also that we have had a 2 day close below daily trend line and the price is sitting on the bottom of the longer weekly trendline, i see yesterday as possible the top of the right shoulder, todays action should be interesting, pre market futures are up but looks like a good shorting opp, to state the obvious if they dont stay up. anyone have any strength of volume figures for the right shoulder ? i see it pivotal regarding the trendlines, but i dont hold positions overnight, but just noticing the biggertime time frame.

jd

 

[ChartMan]

Nice view, but I think the right shoulder has gone too far to become an H&S. I still see the expanding triangle in force...... especially on ES.

 

[mombasa]

looks very volatile - shorted at 9790 on the dbl top and out at 9764 - thought it might form a bear flag at 64 but didn't so got out.

PD as well .....

 

[mombasa]

about to bounce of CM's lower trend line now? Move down looks weak in terms of RSI/Price.

Maybe worth a long but will wait a bit.

 

[jsd]

yes i think its volatile because of the weekly 10 month line that prices seem to be potentially going to fall through and the daily trend line, that prices rallied up to the underneath of yesterday, i assume longer term position players are very focused on the opportunity unfolding both ways, seems to me the market is gasping for breath but see it sinking, still short from open

jd

 

[ChartMan]

Testing 32 now - ES looks like no more sellers on 5 min chart ...

 

[mombasa]

nice one jsd - i went long off the 10 min lower trend line - closed quickly

now short at the 32. Watch it bounce ! Think I'll call it a day after this closing current pos - not reading it too well today.

 

[mombasa]

closed short for 5 point loss and gone long on wot looks like a dbl bottom with divergence - my last trade of the day - honest !

CM, looking at 10 min chart 9720-9730 odd is support yes? Stoopid place to go short !

 

[ChartMan]

Yes to both.... rsi bounced off resistance on 1 min chart..

 

[jsd]

keeping an eye on nasdaq seeing whether it brakes 1405 or 1407

jd

 

[jsd]

broken 1405 holding for more downside

 

[mombasa]

after a good start, have made too many mistakes - at least I know where they were. Guess I should have stuck to the short cos the move up was weak etc - got stopped out on the long - now back in again and in profit this tiime.

 

[ChartMan]

rsi downtrend gone and RS Switch. Still not happy with 32 is it ?

 

[mombasa]

looking good now CM (just broken 9750), just as well I went long at the bottom despite wot I said.

Now waiting for 3PK ND to get out.

 

[mombasa]

Looks like a bear triangle forming - was hoping it would turn into a bull flag but not to be ....

Closed!

 

[lockstock]

Evening all,

Had a nice 60pt er on the DAX earlier.

Got the S&P on my radar screen- almost 100% fib retracement

1057-1048 & back up again.

Just opened the INDU.

CCI not climbing much higher on 2nd major peak.

Mi thinks this could be the top for the evening.