how do you see the dow index going today Dow Jones and S&P commentary: Signal Watch Dr Bob Hard Right Edge Raptor Research Charting by Snoball: Dow Chart S&P Chart Drinks & Break Time at: GD's Famous Tea Room & Watering Hole"

DOW JONES @ LIVECHARTS

Er.....who said it would go short after Greenspan spoke, javid? :-)

The Feds had a little pump. http://app.ny.frb.org/markets/omo/dmm/temp.cfm

Melnibone I think it will stay up right to the close. This has the making of a Big White Candle.

You could be right snoball.

As I said on the other thread, I was looking to short the
DAX if it broke down through support at 4100.
Luckily it never did, or I would have been one of the Bears
with a stop loss going off.

Shows that you have been correct by not trying to buck this trend.

Melnibone.

Absolutely, Melnibone.
Looks like they are going to try for 10750 before the close.

snoball - yep! longs have done well today.
trust we all had good trades.

nite all.

ps. anyone want an unwanted short?
would imagine my short will come into effect at some point between now and june.....i hope so anyway!

once again, nite all.

Possibly in the next couple of days javid. I hope so.
There is often a correction after days like today.
But you never know with the Dow.

javid, your short must be looking better now.

lol. yeh, but i still need it to go down some more. better than it was beginning of the day snoball.
i havent done anything on the dow today.

Well javid, after a Big White Candle day you can expect a fall in the following couple of days down to at least half way down the Big White. Sometimes all the way to the low of the Big White Candle day. So there is hope for you yet.

got my fingers crossed snoball.
what do you have open today and how they going?

snoball,

I use candles just the same as I would bar charts, I just
find them easier to see where the price action went intraday.
So you are probably more clued up than me on the signals that
candles can give.
The way I understand it is that they were
invented by the Japanese to trade rice prices, and that certain
types of candles can give an indication as to the way buyers and sellers
were thinking, and could therefore, maybe, give an indication of
possible future direction to price action.

In the case that you are quoting, a recent price range, engulfing,
white, up candle, do you regard this as a Bull or Bear signal, or
simply a wash through of the previous range trading that clears the
decks for a breakout in one direction or another that is as yet to be
signalled?

Melnibone.

Melnibone,
I've just been checking my Dow candle chart and I have to say that Big Whites (as defined by Metastock) are generally bullish (sorry javid). It must be said that it also depends in what sort of trend they occur. In a downtrend they are an excellent opportunity to short or add to shorts except at the end of the trend when they often signal the turn. In very strong uptrends as we have at the moment they are bullish BUT they can be the cause of a retracement as occurred today. If the price closes down on the next day it's more likely they will continue the correction for a day or two more. If not then the price action will continue bullish. As with all signals there are exceptions so you have to plan your trades with that in mind. Here is a link to some charts. Give me some time to post them as I haven't prepared them yet.
http://www.cashathome.co.uk/candles.htm

Thanks for your reply, snoball,

I'll have a look at your link and see if there is anything
I can use as a possible trading aid.

Melnibone.

Thanks for your reply, snoball,

I'll have a look at your link and see if there is anything
I can use as a possible trading aid.

Melnibone.

I see my doppleganger is back, double posting,
sorry, it isn't intentional,
I blame everything on Bi$$y Gates. :-))

Melnibone.

javid, i'm still trading Reuters and don't have anything open on the Dow.
I want to see if I can do better with stocks than index trading. I'm still watching the Dow to see how it affects the Ftse and therefore Reuters.

ok Melnibone.
I feel sorry for Bill Gates. All that money and nobody loves him. :-)

Re the candles - because the candlestick expert showing the Big Whites on my charts is a bit of Metastock software I can't find out the precise definition of a Big White. One could probably work it out if one had the patience and the time.

No probs, snoball
I appreciate your time in replying.

I'll have a look around and see if there is anything I
can use. I never believe/discount anything until I've
checked it out to my own satisfaction.

An open mind never hurt anyone. It's blinkered/religeous type
beliefs that holds people back and gives guru's/governments power
over Real people that are actually capable of independant
thought.

Melnibone.

afternoon everybody:had a good short on the dow so now want the big boys toys so am Wondering if anyone can help-I want to test drive e-signal real time can you point me in the right direction. On mam site their adver was coming but today cant see it so far. Also how much does it cost? as i want to subscribe.Doing mainly Dow, Dax and ftse (sometimes) not individual stock but indices.

rgds
zarif

http://www.esignal.com/esignalpro/default.asp

hope this helps any other info required get in contact via mam email:-)

Mega...