Where is the Dow & others heading in 2005?

[bast3k]

it's above 10800.... what's now???

 

[jonnyy40]

How much have you got to spend?

 

[FetteredChinos]

yah boo... dodgy day thus far..

will probably hold shorts over the weekend in this case.. unless it tails off dramatically at the end of today.

mechanical strat is +100 for the week. discretionary is -60 at the mo..



not terribly tremendous..

 

[peterpr]

I've been experimenting with Woodies CCI gubbins for Esignal using a 1 minute chart for a while.

For what it's worth, and by way of consolation to fc and others who may have hit the short button around 10750, it's just changed trend to down and produced sell signal (I think )

Don't quote me though Can't say I'm taking the damn thing too seriously just yet but it does draw very pretty pictures

 

[FetteredChinos]

any port in a storm..

 

[peterpr]

any port in a storm..

Sorry Changed it's mind almost immediately - says we're continuing up now!

 

[twiggytwo]

expecting a small retracement down to 10777 after 1.00pm USA time 6.00pm uk time (9 mins ) I closed all shorts at 8.00am today still out of market

 

[ketch22]

No problem here...

undefined

any port in a storm..

I play NAS and NYSE stocks... NAS and Q's still weak imo and I watch DOW movent closely. I call it the head and where ever the head goes a** must follow. Will wait to see if 10779.39 gets broke intraday before bailing on shorts.Alot can happen in 3 hrs!!! FC keep up the good work... we just got a curve ball .... fat lady hasn't sung!

 

[jonnyy40]

Come on now,a little buying will get us out of this

 

[peterpr]

Real quiet here for the past couple of hours.

Price just popped 10833 at third attempt in 90 minutes as I write - Thats the R2 resistance of the pivot from yesterday. In spite of everything, it's beginning to look like we're going to test the 10860 level for the third time - if not today, then early next week. If that goes, then there'll be an almighty surge up past 10900. RSI on the daily chart says there's plenty of scope to do just that without any retrace as well.

Facinating stuff - what with most of the news flow suggesting the opposite. Still you can't expect logic from makets I guess.

 

[twiggytwo]

Hi Peterpr, I agree it now looks a possible test of 10,860-10862 may be coming but will this be a treble top then a complete collapse to 10,633

 

[peterpr]

Hi Peterpr, I agree it now looks a possible test of 10,860-10862 may be coming but will this be a treble top then a complete collapse to 10,633

Absolutely rivetting stuff watching right now.

You know what they say - market doesn't make a major top until every last short has been crucified. It's not buyers queueing that sends it up like that against the odds. It's forced short covering and I reckon there will have been plenty of that going on in the past few hours.

Maybe a little hook down to finish, but all in all, I think you can say that we're entering the weekend at a 3.5 year triple top!

So where to now ?

 

[tradesmart]

11300....

10610 at the close on Tuesday was a golden opportunity to get in 'cheap' - I bet you all took it..?!.......

ps - I'll post a chart on the Dow Intraday Charts thread when I get a chance to explain my 'logic'..(?)

 

[peterpr]

10610 at the close on Tuesday was a golden opportunity to get in 'cheap' - I bet you all took it..?!.......

Now now TS - mustn't bet on certainties. Shirts can be lost that way you know

 

[tradesmart]

Shirts can be lost

LOL Peter......!

The weak dollar and strong oil allegedly caused Tuesday's 174pnt mega-tank....

Now the dollar is even weaker and oil stronger its rallying like crazy.......

It'll need the dollar at 2.50/£ and oil at $75 to get the Dow to 11000+....


:|

 

[ChowClown]

6-day cycle update.

 

[tradesmart]

1.03am Sat - IG are quoting 10787-10794.....!

What's going on.....?

I can't sleep with all this excitement.......

 

[peterpr]

1.03am Sat - IG are quoting 10787-10794.....!

What's going on.....?

Crikey! That's 0.5% markdown after the close!

They have also market FTSE down from about 5019 at 10pm yesterday to 5000ish now (0.4%). Plus the SPX down about 0.7% ! - Other providers similar.

I've had a quick trawl around various news sites and can't find an explanation. Just bullish cheerleading stuff from the usual suspects. Big reporting week in the US next week though. Not much in the way of companies but a whole raft of economic indicators inc the infamous non-farms payroll on Friday. So maybe a nasty number has leaked at a convenient moment for a bit of after-hours adjustment ?

Looks like it just might be worth gritting teeth and hanging onto those shorts - unless yesterday has served its purpose and crucified them all already of course.

 

[FetteredChinos]

morning all. **** day friday eh? irrational exuberance etc..


250 point rally with no hint of a pullback.


as TS pointed out, $ and Oil continued their merry way north.

-120 for the day friday from 2 positions...

makes -110 from discretionary and +145 from mechanical for the week..

spot a pattern here?

must stick to the rules..

d'oh



i agree though about IG.. the price is still some 60pts down. last updated at 7am. which means that it cant be an error, can it?

city index have the monday dow at 10834 btw.

odd, very odd.


FC

 

[peterpr]

i agree though about IG.. the price is still some 60pts down. last updated at 7am. which means that it cant be an error, can it?
city index have the monday dow at 10834 btw.
odd, very odd.

I've checked around most of the SB providers. Agreed the cash index is still at the 10,840ish level on most of them. But all those showing the March future price have it at around 10790.