Where is the Dow & others heading in 2005?

In the GDP figures released earlier, residential fixed investment makes up a mere 5% of GDP, its 11.5% advance in the first quarter reflected a 0.64-percentage-point contribution to the 3.8% rate of growth.

Borrowing costs are also lower than they were... hot housing.
 
Nasdaq internals near neutral, NYSE internals bullish though far from yesterdays levels.
Totla volume similar to yesterdays levels, given that we have been both positive and negative this morning doesn't tell much.
SOX has recovered about 50% of its earlier selloff. my leaning would be lower here.
 
Looks like stalemate. Nobody willing to commit. It will be interesting to see how long it takes the oil bulls to push NYMEX WTI back up to $60.

Anyone think we could get a 6.30 sell off?
 
INDU much the weaker sister here, NYSE internals still with a bullish slant, Nasdaq internals weaker and threatening to roll over.
 
So the falls last week didn't have that much to do with oil, just an excuse and yesterday push up with the futures was a loada pump and dump
 
Racer said:
So the falls last week didn't have that much to do with oil, just an excuse and yesterday push up with the futures was a loada pump and dump
Click to expand...

I think what happened last thursday, was that when NYMEX WTI hit $60, a whole stack of programme sells hit the market. It was as simple as that. Market was not that bothered at $59.85, but at $60 it was a different matter.

Friday, I think, was just follow through selling.

Yesterday, we did have some good economic data and people were happy that oil was falling, but, to be honest, it never looked that impressive.
 
Negative closes across the board, market internals were mixed and not strongly inclined in either direction.Total volume increased on the Nasdaq and decreased on the NYSE, but the margin was insignificant in either market. Early follow through from Tuesdays rally was unconvincing and suggests more declines to come. Support and resistance levels remain the same as for Wednesday. SOX may be setting up for a drop here, it showed relative weakness today and remains trapped under its 200 week sma.
With FOMC results out at 2:15 EST I would expect the morning to be light volume, market will be looking for some change to the wording of the statement that might indicate when Fed tightening will ease. With a long weekend looming and quarter end the afternoon session, post Fed is likely to be a whirlwind. So as they used to say on some old police drama or other, "Be careful out there!" :eek:
 
Sgt Phil Esterhaus..............and lets be careful out there.........

Hill St Blues.
Cowboy ( Renko ) Belcher, Capt. Furrillo, & Counsellor, 2 detectives, ..............Washington was one, the other guy escapes me, Lt Hunter, and a semi-bald guy............

cheers d998
 
No urgent e-mails this morning from Mr Golbum or Mr Sucks oh well !! :cheesy:
Pivot 10393
going south ?
 
South I think too, however not down to 10,250.

I think we could see it down as far as 10,330 range (especially with S1 being around this range) and would expect a bounce from here. If so we could be looking at a 1-2-3 formation and the index heading north from this point.

We shall wait and see :cool:
 
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