Market Direction 29-May-03


Well-known member
Here we go again folks- to all the fun lovers out there!

Forecast for Thurday:

The Dax and the Ftse will probably go down by 25 to 35 pts before recovering into a slightly positive territory going sideways until the Dow opens in the afternoon.

The Dow hasn't really seen much gain today so I see it moving into positive territory fairly quickly- up to about 120 to 140pts.

That's it for now.

Have a very profitable trading day.

And just remember the saying:- what goes up must come down.


Experienced member
I didn't trade at the close tonight and I am not sure about tomorrow.

As a guess, I think the Dow will go down at least 50 points during the day. It didn't go down much today, at the lows, and if it can break 8,770 it should make my target. But ths time I will wait and see.


Well-known member
Already posted in the FTSE intraday thread.
Negative divergence at open so a significant move down, then I believe it should stay negative all day.
DOW, well we've had 6 updays in a row, time for a retracement perhaps, daily chart formed a gravestone doji which is a bearish formation.


Well-known member
Well done Wideboy!

Nice to see that you are still interesting in a bit of fun forecasting the markets.


Well-known member
Something strange going on this morning- you don't usually see the ftse and the dax trading so widely apart.

I.e dax going up ftse going down


Established member
call me miserable but what exactly is the point of this thread? Why not just play the dow prediction competition on the home page?


Well-known member

You are right about the Dax it is trading below all the other markets.

Actually I read somewhere where it was said that it has lost 3/4 of its value compared to other indexes.

If it was following the other indices it should be above the 3000 mark.


Experienced member
DAX was indeed off 70% from high when it hit 2200,over 50% down in 1year.
Dax appears to be market to get short of if US rally runs out of steam.


Veteren member
as I am long at the moment, I will say high 4101

but if I have to close I will say low 4001

if we make 4101 and then 4001 do I get 2 coconuts
or just 1 ?
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