Market Direction 29-May-03

rglenn

Well-known member
379 4
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.
 

Bigbusiness

Experienced member
1,408 23
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.
 

rglenn

Well-known member
379 4
Come on now folks!

Men and Women cannot survive on money alone we need a
little fun too.
 

Wideboy

Well-known member
489 1
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.
Wideboy
 

rglenn

Well-known member
379 4
Well done Wideboy!

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

rglenn

Well-known member
379 4
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
 

sidinuk

Established member
624 5
call me miserable but what exactly is the point of this thread? Why not just play the dow prediction competition on the home page?
 

rglenn

Well-known member
379 4
2468Steve

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.
 

2468steve

Experienced member
1,076 39
rglen,
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.
 
 
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