Dow Intraday Charts 29 Aug - 02Sept

[FetteredChinos]

ITW ??? what does that stand for?

well chaps, here we go.

d-day.

man the lifeboats.

play that violin....

 

[a320]

Inversion time window...

144k on the jobs with revised to 73k from 33K last month...... rate now 5.4%

edit..none event .. revisions are more +ve .

 

[FetteredChinos]

good or bad then a320? i thought they were all expecting 150k plus??

 

[FetteredChinos]

muted reaction thus far. phew.

futures only up to 10,280 from earlier 10,250 lows....

lets see if there is any profit taking after the bell...🙂

 

[TraderTony]

Sorry to hear you lost yesterday Debs - if you post your charts or your trades you may get some good feedback from other posters.

Anyway, here's hoping you have a better day today.

T

 

[debs]

Sorry to hear you lost yesterday Debs - if you post your charts or your trades you may get some good feedback from other posters.

Anyway, here's hoping you have a better day today.

T

Thanks Tony....I'm reverting to paper-trading today and plan to start afresh next week. I haven't posted a chart yet as I currently use a system called AIQ and it is difficult to fit the one min daily chart on one screen, but I am considering switching to Sierra as that seems to be easier to view.

Good luck for today.....debs

 

[FetteredChinos]

critical time now. is this just a pull-back, or the start of a decent retrace ???

 

[Hooya]

ftse saying just a pull back

 

[FetteredChinos]

lot of RSI negative divergance on the FTSE though.

still seems to be going great guns doesnt it?

can it last?

 

[Hooya]

this is the test imo...54

 

[FetteredChinos]

doesnt like it does it.

where did you get 54 from? long term resistance? or fib levels?

 

[Hooya]

a pivot of mine

 

[tradesmart]

Big divergence between the Dow and the Naz, with the Naz leading to the downside courtesy of Intel......

Generally imho, where the Nasdaq leads, the Dow eventually follows, and it will likely want to test that former resistance level at 10215 ish as support, but not necessarily today.....

We'll probably see a decisive move when the big boys get back from Martha's Vineyard and the Hamptons after the Labor Day holiday (Monday 6th)............. 😉

Edit – (daily chart attached) we’ve had a really good 500point run up since early August and things looking very bullish for now, but RSI is toppy so will be looking for some negative divergence to confirm a likely pullback….

I suspect that we might now see some sort of consolidation pattern form around/below the current highs until some sort of catalyst provides the direction.....

Also we’re nudging the top trendline of the long consolidation pattern, which should create resistance (or maybe we’re through it depending on what ‘best fit’ solution you prefer….?!)

 

[FetteredChinos]

pivot eh? we onto R3 or its equivalent? seems to have done the trick thus far.

is it based on a standard-ish calculation , or has it got a bit of extra friday pizzazz?


🙂

 

[Hooya]

no pizzazz just one of 5 pviot calculations Ive been working with for the last 1 year or so. Hoping to do and intraday type system like DC having one entry and one target for each day. The problem is ..one day one pivot works atreat the nexta another does. The question is what makes it that way. So still working on that.. but 54 cam up in mist of my calculations today

 

[FetteredChinos]

cheers H.

any thought of combing your pivots with the daily bias suggested by genesis?

 

[Hooya]

why do you think I bought genesis 🙂

 

[FetteredChinos]

i dunno? you like peter gabriel?

 

[JB1]

H , I'm sure i read somewhere, you where uming and arring about it...so your mrs bought it for you as a birthday pressy... 🙂

 

[justyn]

We'll probably see a decisive move when the big boys get back from Martha's Vineyard and the Hamptons after the Labor Day holiday (Monday 6th).............

Sorry for the daft question .... is that the equivalent of a bank holiday in the States and does that mean the Dow won't be open until Tues?

Cheers!

Justyn.