Where is the Dow & others heading in 2005?

[bharia]

hey guys.... been away..... bagged my 250 points on way down from triple withching and been relaxing....... hey jills... i make my s2 10210-05 - huge volume.... on around 21st April.

 

[User]

Strong start here internals very bullish.

Just looked at the action now and not a bad bounce....

I would like to see a dip either later in the session or a perfect scenario would be a dip towards the close.....

Obviously I would like it to get negative but I don't think that will happen but if it gives back some or most of the days gains towards the close then that'll be nice....

That is whats wanted and that is whats needed if further declines are to follow......

The members who are suggesting a reversal at 10370, well, we're mucking around at that level now so fingers crossed.......I don't really want to see a test of 10400....

Good Luck

 

[roguetrader]

SOX stuck under the 200 week sma, needs to clear the 424 level.
INDU testing the underside of the closing price up trendline from the lows in April. Just a nice bounce so far.

 

[rrtech]

Oil is currently $59.35 on tradindex (DOWN $1.24). So it is crucially below $60 and if it closes below about $59.50 there could well be a late run up of the Dow because the oil price will be psychologically far enough away from $60 for them to think it will not go back above it soon.

 

[User]

Warning

Just looked at the 15 min chart...

If we break 10350 then anythings possible....

 

[JillyB]

hey guys.... been away..... bagged my 250 points on way down from triple withching and been relaxing....... hey jills... i make my s2 10210-05 - huge volume.... on around 21st April.

As I said my figures are from CMC. Just saying what levels are on my chart - that's all. :|

If you're using something else (Sharescope etc) your levels will probably be slightly different.

 

[bharia]

jill me using CMC as well....sorry werent having a dig but you said you couldnt get S2 from your graph.....

 

[kriesau]

Oil is currently $59.35 on tradindex (DOWN $1.24). So it is crucially below $60 and if it closes below about $59.50 there could well be a late run up of the Dow because the oil price will be psychologically far enough away from $60 for them to think it will not go back above it soon.

The general trend for oil is up but there will be fluctuations on a daily basis. It's already hit $59.50 today.

General consensus among oil "experts" is that it should move up into the $65 - $70 range over the next 3/4 weeks.

 

[User]

Oil is currently $59.35 on tradindex (DOWN $1.24). So it is crucially below $60 and if it closes below about $59.50 there could well be a late run up of the Dow because the oil price will be psychologically far enough away from $60 for them to think it will not go back above it soon.

$5949 would not make it psychologically far away trust me. Very volatile chart. $58 is a key area for me. This is a simple pullback with a new highs still highly likely.....but as I said all eyes on $58.

Looking at the 15min chart and to me it seems like a SOLID chance of closing above $60.

Dow needs to break 10350 then negative action can be seen with a possible slight positive close above 10300......

 

[User]

General consensus among oil "experts" is that it should move up into the $65 - $70 range over the next 3/4 weeks.

and thats the only problem the upside has......

the experts are saying it.........

 

[FetteredChinos]

Just looked at the action now and not a bad bounce....

I would like to see a dip either later in the session or a perfect scenario would be a dip towards the close.....

Obviously I would like it to get negative but I don't think that will happen but if it gives back some or most of the days gains towards the close then that'll be nice....

That is whats wanted and that is whats needed if further declines are to follow......

The members who are suggesting a reversal at 10370, well, we're mucking around at that level now so fingers crossed.......I don't really want to see a test of 10400....

Good Luck

looking like a classic pattern here.

let me quote something from Jenkins Stock Market Geometry..

"There are a number of price patterns that are quite common in professional trading and useful to know.
The most important is the daily and weekly patterns in Bull Markets and Bear Markets.
In Bull Markets - the beginning of the week, Monday, opens strong and follows into Tuesday.

Then a counter decline sets in, a correction, with a weak Tuesday afternoon, correcting into
Wednesday and then by Thursday the market is in a strong up trend and on Friday, closes the
week at the extreme high ofthe week. This strength follows through again for Monday. This is
the classic Bull Market Pattern - strong on Monday into Thesday afternoon, pullback
Wednesday, into Thursday; Friday Monday strength.
In Bear Markets - expect just the opposite - weakness on Monday into Thesday, midweek
counter cyclical rallies, failures on Thursday with a weak close on Friday followed by a
weak Monday.
These patterns are quite reliable and one should adjust their trading strategy on a weekly basis, to buy on the dip on Tuesday or Wednesday midweek and sell into the strength on Friday afternoon or Monday on a Bull Market pattern. On the Bear Market pattern you want to short the rallies on Tuesday, Wednesday and cover on the decline Friday afternoon and Monday."


good stuff there :cheesy:

 

[JillyB]

jill me using CMC as well....sorry werent having a dig but you said you couldnt get S2 from your graph.....

Sorry there, wasn't being awkward. I had a 5 min and 15 min chart showing, as I was in the middle of a trade when you posted. Traded from where it tested 10368 twice and then started to drop back. Got in at 10366, and out at Doji just formed on bottom Bollinger at 10,350 (open of next candle is my exit point). 12 points after spread.

Just change the time setting on my chart and S2 is at 10209.

 

[FetteredChinos]

and today is tuesday, and it's rallying..

now what do you suppose we should do........

 

[User]

Well the pro's are adding to the shorts......I'm not talking about myself..... :cheesy:

I'm talking about the instituitions

 

[FetteredChinos]

Well the pro's are adding to the shorts......I'm not talking about myself..... :cheesy:

I'm talking about the instituitions

is that female instituition?

 

[JillyB]

and today is tuesday, and it's rallying..

now what do you suppose we should do........

Have you tested the theory though? I feel another 'Live and Die by the Sword' epic, coming on here. What do you say?

 

[roguetrader]

Well the pro's are adding to the shorts......I'm not talking about myself..... :cheesy:

I'm talking about the instituitions

User is that an opinion, based on the market or do you have access to that information?

 

[User]

Fantastic chart. 15min candle closed below 10350. As long as the next candle doesn't reverse that and closes above 10350 then 10300-250 seems likely.

 

[FetteredChinos]

Have you tested the theory though? I feel another 'Live and Die by the Sword' epic, coming on here. What do you say?

lol yes Jilly i have...and yup, it does work, unless you get hard trending weeks (like all counter trend strategies )

i went through something of a live phase for 2-3 weeks on this thread. i will see if i can find the page numbers it was on.

fc

 

[User]

User is that an opinion, based on the market or do you have access to that information?

I have access to that information on a chart.....Do you want me to post it? It's not showing todays action but the picture is crystal clear.......