The last day of the DOW

[ChartMan]

Nice bull flag on the DOW 10 min? Failing to make the third support low would indicate a clear break to the upside if it was on a 1 min chart....40 mins to go for the year to close.

 

[ChartMan]

A small pause before a move to HOD for the close, perhaps?

 

[2468steve]

well,showing my sceptical side,i thought they'd try and push to close it at high of year....not quite.....would have made good headlines in WSJ......

HNY to all at T2W

 

[ChartMan]

A moral victory , though! 6 points off is close enough for me. :cheesy:

 

[2468steve]

Latest News Top Stories Market Pulse News Services

4:05 [FNB] First National Bankshares of Fla. to trade as FLB
4:03 [$RUT] Russell 2000 unofficial close down 8.5 to 557
4:03 [$SPX] S&P 500 up 1.9 to 1,111.5
4:01 [$INDU] Dow industrials unofficial close up 19 to 10,444
4:01 Earnings Watch Updates, advisories and surprises


CM,
oooh,magically they achieved, they managed to pull an extra 10pts out of thin air,to close at high of year,10 453.92.........thats a surprise

 

[tradesmart]

I figured that they'd make sure that the Dow ended the year on a high despite trading flat to marginally underwater for most of the day, so had little hesitation about going long at 10410 with just over an hour till the close......

Needless to say, I really wanted the last trade of the year to be a good 'un.... :|

and I love it when a plan comes together........ :cheesy:

all the trading indicators that ChartMan has highlighted time and time again worked in perfect harmony...

3-peak rsi PD for the entry, 3-peak rsi ND for the exit, 32 & 64 acting like magnets........

45 points @ $100/point in the bag in 50 mins.......(joke )

well the 45 points are real enough but the punt was a bit (lot) less than $100/point, but you can see the kind of money that can be made if you're prepared to go for it.....

must go now - the 'bubbly' is chilling nicely.......

 

[tradesmart]

and BTW.......A VERY HAPPY AND PROSPEROUS NEW YEAR TO ONE AND ALL....... :cheesy:

 

[mombasa]

Happy New Year everybody.

 

[jimmyred]

Happy New Year to one and all

Tradesmart

I like your chart and explanation of how it comes to- gether with Chartmans indicators.

Chartman could you tell me where to find more information on how to use these indicators. Also what charting package should I be looking at, my own is not suitable I dont think.

This is my first post so hello to everyone

J

 

[Finirama]

Happy New Year Everyone.

Chartman/Tradesmart,

Is it the 20 day RSI period that u use?

Thanks in Advance

 

[anmolway]

finirama, i think they use rsi 14

happy new year to all

 

[Finirama]

Cheers

 

[ChartMan]

Charts are by SierraCharts.com and you can subscribe in the T2W shop. The RSI is 14. Data feed is from MyTrack.com although if you trade with IB, you can get the feed for free,subject to a minimum usage....
There is a huge amount of resources out there on the net for learning about TA. The bible book is by JJ Murphy, Technical analysis of the Financial Markets, again available through the T2W book store.
Look here:- http://stockcharts.com/education/IndicatorAnalysis/

More specifically, you can search the archives here for a couple of years of trading the dow intraday analysis.You can also download a weekly precis in word format of all the action, by Newtron Bomb.
Here's the link:- http://www.trade2win.co.uk/boards/showthread.php?s=&threadid=5063

 

[Finirama]

Thank You