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

hi all:
managed a nice short earlier on dow daily. Just watching atm.

For those not too familiar with the Point and figure charts this is a nice place to look at.registration is free for three weeks and has good tutorials on it,

www.dorseywright.com

give it a try and see-nothing to lose.

rgds
zarif

Chart updated. Sorry it was late.

Afternoon everybody:
What are your views on the dow today? Mine is that it will try to inch up than fall south.Small Rallies but more shorts (hopefully).Anyway ours is not to predict but go with the flow.
Greenspan opening his jaws at 15.00 gmt.-so beware as has a habit of bringing the house down.
Do you thing it will test the 10475 area??
Long atm on cable and Eurdoll.

rgds
trade safely and wisely!!!!

zarif

hey zarif - i think we will have a southward trend while greenspan is in focus then maybe upwards towards then second half of the day. i got a long and short again today.
good luck everyone.

javid

what a boring day on the dow!
i had 2 longs and 2 shorts going and all colsed up now. hope tomorrow is slightly more intresting.

nite everyone.

javid

Know what you mean Javid.

Closed my S@P trades when they crept into a titchy profit
and gave up. I knew the FTSE is a bit of a slow coach, but
the US, at the moment, resembles the giant tortoise in
the mini KitKat adverts.

Melnibone.

I'm surprised you have time to watch t.v. Melnibone. :-)

Any thoughts on the Dax, Melnibone?
Is it affected by FTSE or Dow?

Hi snoball,

In my experience, most Indices are affected by the DOW.
Dax is just above key support at 4000.

Germany is affected by the Euro/Dollar exchange rate and
unemployment rate rather than the FTSE.

France is calling for an ECB rate cut to halt the slide
in the Dollar which is making Eurozone Euro exports
uncompetitive. Greenspan is talking up the US growth
story. Hence the profit taking by the Dollar Bears.

Everything is in the melting pot. If the US GDP expansion
rate increases then this could bring forward US rate rises.
This could be negative for US stocks if the unemployment
rate hasn't started to rapidly decrease.
If US retraces then so will the DAX.

Melnibone.

Thanks Melnibone.

By the way, we've got 3 important events today and tomorrow.

Today is initial jobless claims at 1330 Hrs.

Tomorrow is the important GDP data.

Tomorrow is also the last Friday of the month.
Experienced traders I've listened to have said to be
wary of shorting on the last Friday of the month as
Funds sometimes put the last of this month's retail
money into the market.

Melnibone.

Clocking off now to have lunch and watch
some adverts before the US opens. :-))

Melnibone.

afternoon all:
I shall not be around much today as am going to IG Index seminar at Manchester today late afternoon.

rgds
zarif


KEY EVENTS TO WATCH FOR:

8:30 AM ET. Initial Jobless Claims (expected -4K; last -24K)

8:30 AM ET. Durable Goods Orders (expected +1.4%; last +0.3%)

8:30 AM ET. USDA Weekly Grain Export Sales Report

10:00 AM ET. Conference Board Help Wanted Index

10:00 AM ET. New Home Sales (expected -0.9%; last -5.1%)

10:00 AM ET. DJ-BTM Business Barometer (last +0.3%)

4:30 AM ET. Money Supply

Doesn't look inspiring for the Bulls.
It's going to have trouble getting back much over 10600
without some good news.

I also notice that as the Dollar strengthens, the index
seems to go down. If you remember, as the Dollar weakened
over the last 6 months, the index went up.

Portent or coincidence?

Melnibone.

Anyone tell me where i can charts for currency rates (esp /$ and E/$) - know its not what the thread is for but sure you guys will know (esp Zarif if you are around)

http://futures.tradingcharts.com/menu.html

Is this any use?

Melnibone.

thanks Mel

Just noticed.
If you click the Futures/FX tab at the top of this page
Mam have all the popular FX Spot rates and charts.

There's more on this site than you realise.

Melnibone.

Mel, thanks again. Just tried to use this function and I only get half a screen and the blue bar that is normally at the bottom though the middle - do you get the same or full screen?

Sorry for late reply, I logged off when the US closed.

My screen is normal.

Are you sure your screen isn't opening up in 'restored down'
mode for some reason?

Melnibone.