Opinions On Dow Today)18sep

[brumod]

i AM FINDNG IT TRICKY TO HAVE AN OPINION ON WHAT THE DOW WILL DO ON 18 SEP(TODAY)
i FIND MYSELF UNUSUALLY UNSURE.. oPINIONS..
MARKET OVER-VALUED,
INDICATORS NOT TOO GOOD,
i AM THINKING DOWNWARD.

 

[rglenn]

I think you will find a very cautious day today.

It will probably break the 9600 barrier before going downwards again.

If it reaches 9600 it will be top heavy and will not sustain many points above this figure before a big fall.

 

[rossored]

Through 9540 ought to take us to sloping supp at 9520. A break from there and it'll be 9450. Upside, who knows. As CM says, there's plenty of room for it on RSI, no divergence showing on the 10min.

Almost a bear flag pattern as the last part of yesterday, if that performs it ought to take us to 9520, but premarket futs are up 15 ticks.

Personally I'd say a burst up through 96 towards 97, but it'll need some strength to hold is, as RGlenn says. Jobless claims are out in 10 minutes as I write this, that might give some indication, as well as Philly Fed at 1700BST.

 

[brumod]

MY THINKING

YES I AM LEANING THAT WAY,
I STILL FEEL OVER-VALUE, I MUST LEARN HOW TO READ BEAR TRENDS ON GRAPHS STILL,
CHEERS GUYS.

 

[Mr Peter]

My 2 pennyth are that Dow looks to get up to 9580 and perhaps test the late 90s. Downside limited to 9520

Mr Peter

 

[brumod]

MR PETER U WHERE CLOSER THAN i WAS,
i THOUGHT 9430-9460,
WELL LIVE AND LEARN, HOPEFULLY LEARN A HELL OF A LOT MORE,
LATER

 

[ChartMan]

Guys, don't think or guess. Plan instead. Estimates based on sound TA reasoning ( bear flag target etc.) is fine. Just remenber your thoughts and track the action as it happens. Are your thoughts being reinforced or are you being shot down in flames? No shame in that. Time to re-think the action.