Where is the Dow & others heading in 2005?

They are really trying to pull the dow up with the futures today..
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They've moved up 70 odd from the low of 10010!

10000 should provide some sort of support and this should provide the possibility of travelling towards 10200. We could get a range for a while.....
 
"Futures trade pares early losses, now suggesting a relatively flat open for the indices, as the absence of economic data this morning places even more emphasis on better than expected earnings reports... Banc of America (BAC) has handily beaten Q1 expectations while both 3M Company (MMM) and Eli Lilly (LLY) have beaten analysts' Q1 forecasts by $0.02 and issued in-line FY05 outlooks... Raised Q1 guidance from Corning (GLW) and more M&A news - General Electric's (GE) $1.4 bln cash purchase of Bombardier Capital's Inventory Finance Division - have also improved overall sentiment"
 
Dax and the FTSE250 don't seem to be convinced by the futures moving up!
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Thats because the DAX and FTSE250 is moving in conjunction with Fridays moves on the Dow. The Futures are showing the Dow at around about 0 from Friday's session.
 
Yes but Dow has moved up about 50 from earlier this morning... FTSE100 has moved up with that, but 250 hasnt much, Dax moved up a bit then fell back again
 
As usual, some divergence of opinion among the 'experts' on what comes next.....

The squeamish should avert their eyes. The coming week's inflation data could be very ugly.
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"I'm looking for a cataclysmic and conclusive and definitive downside blowout one day next week ... where 90% or more of the volume will be to the downside," said Joe Liro, equity strategist at Stone & McCarthy Research Associates.
Possibly setting the stage for that "blowout" will be a series of economic reports that Liro expects "will not be supportive."
"One of these will be the straw that breaks the camel's back in terms of causing that capitulation trade that I'm looking for," the equity strategist said.
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"I'm not sure if today's the day but certainly I think we've approached the level where the market is going to begin to try and focus on some of the good news and stabilize," said Peter Cardillo, chief market analyst and strategist.
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"Other than a couple of marquee names like IBM (Research) and Apple (Research), earnings haven't been bad," said Art Hogan, chief market analyst at Jefferies & Co. "I think we'll start to focus on the carnage we did last week, and at some point today we'll put in a bottom."
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Now that you've read the above, delete it from your memory card in case it influences your trading.....

The market knows best..... ;)
 
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And the more 'expert' analysts and strategists give their opinions, the less likely I am to listen :)
 
this is clearly contrarian time.. remember all the calls for 12,000 on the Dow not all that long ago? look what happened..

not much room to go too much further down from here in the short-ish term.

average monthly range is approx 600 points i think.. might well be worthy of a long to target 10,700 (as i mentioned earlier)

fortune favours the brave, say Confucius.
 
Hope you don't mind if I don't wish you good luck cos I am on the opposite side of the fence :)
 
The market signalled it's intent earlier........still has to find a bottom ....even if only a today bottom ......i would'nt be long yet for all the T in china ......ooops there is no T in china !!! :eek:
 
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