**dow - Warning**

BigInTheCity

Active member
134 2
If my analysis is correct the Dow has reached its high for the year!

This was 9361.37 on 31st July 2003

Next stop the 7000s in my humble opinion

GL & GT
 

SUNSEEKER

Established member
872 12
do you have a time frame in mind for the 7000's and would you care to elaborate on your analysis?

The reason I am asking is because I dont have the final high until roughly the 8th of August. The price level would be substantially higher than we are now....
 

rglenn

Well-known member
379 4
7000's!!!

You would have to see another Sept 11th Scenario before that happens.

The Dow is going to about 10000 before any serious downward movements.

Maybe you have your chart upside down!
 

genti

Active member
152 0
i thought the same, the charts might be upside down,

lets take it seriously now,

sp500 im my p/f charts has given a sell signal at 983 and the buy signal will come in until sp500 reaches 1005.

for sure my numbers cant be upside down.

Genti
 

FTSE Beater

Experienced member
1,518 5
Hi all.

Here's my view on the chart

DJI03-08-03.GIF


The 9500 is proving to be a bit of a stumbling block at the moment and if the price drops below the blue line, then the double top will be completed and down we go. Having said that if 9500 does go then the magical 10,000 level could be on the cards.

IMHO it's too early to say :)
 

rglenn

Well-known member
379 4
FTSE Beater

I think part of your chart is missing but I do understand your analysis.

Maybe we should call you Dow Beater instead!
 

ChartMan

Legendary member
5,580 46
Big in theCity- you should post some reasons why you think 7000.
FB, Here's why I think 10,500.
The DOW does deliver "W" bottoms, at least at intraday levels. As TA is supposed to be time independent, there is no reason that this W bottom can't deliver to 10,500.....
 

Attachments

  • ww.gif
    ww.gif
    23 KB · Views: 615

hungrybear

Active member
209 0
Interesting set of views.

I can't see the Dow exceeding 10,000 and 9500 is likely to provide a extreme resistance. Dow 7000 is far more attractive from a valuation perspective so has a higher probability, though the fact that there is a presidential election next year makes me allow for the possibility of a range-bound market for the next 12-18 months, before a severe drop into 2006.

I definitely see weakness over the next day or so and if the subsequent rally isn't strong then further weakness down to at least 8800 and possibly the support at 8500 by mid/late August. Cyclic analysis suggests a weakening market for the next few weeks.
 

Skimbleshanks

1
2,325 16
The double top referred to by FB is, to my thinking, the top of a pullback. Looking at ChartMan's chart on his post, there has been no pullback of significance, so I reckonthe next move is a pullback.
 

BigInTheCity

Active member
134 2
rglenn said:
7000's!!!

You would have to see another Sept 11th Scenario before that happens.

The Dow is going to about 10000 before any serious downward movements.

Maybe you have your chart upside down!

Head and Shoulders, we should atleast test the low 7000s
 

Attachments

  • dow jones index.bmp
    956.9 KB · Views: 249

Skimbleshanks

1
2,325 16
We've also had the recent inverted head & shoulders too, which suggests a market bottom. It will be interesting to see what happens.
 

Attachments

  • dow daily 3 aug.jpg
    dow daily 3 aug.jpg
    72.7 KB · Views: 495

stevem12

Active member
135 1
Well,

If we`re all going to predict, I say the Dow will test 15000 The only thing I`m not sure of is when

;)

Steve
 

rglenn

Well-known member
379 4
BigintheCity

You are looking at a 10year chart.

This does not reflect the current market situation and trend.

A lot of things has happened since then.

I for one don't depend on charts as it is easier guessing the next direction from whats taken place recently- rather than difinitively depending on a chart which only shows what have taken place which may never occur again.
 

Bullish Bear

Member
64 0
well my bet is a fade to 8600-8700 over the next month or two at worst unless Al-Quada do something in the US...
Otherwise substantially rangetrading for the rest of the year...
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock