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

Thanks Zarif,

any chance of a quick precis of what went on at the IG seminar (as I got stuck at work as today is our year end)

thanks in advance

I'm enjoying this S@P trading.

Decided to do the opposite to Ed Downs and short the pop
rather than buy the breakout.

Took a swift 3 points out of the S@P. That's roughly the
same as taking 30 points out of the Dow for all you
high-rollers. ;-)

Melnibone.

Just back for another look after a nice steak dinner.

I see it's dithering about whilst the US is at lunch.
Hopefully they'll drift back to work and start to do
something again any time soon.

Melnibone.

WOW! Dint see that coming. Did two longs, closed one and got caught with the drop in markets with my other long. Anyway, did a couple of longs once the market settled down. Closed one long, got another in profit and I hope the market get back to its highest peak before 9pm so I can close my original long which at present is down.
Hope the rest of you have done well today.
A good weekend to everyone.

Javid

Fundamentalist and everyone.
re: Ig Index seminar summary:

Peter Mcdermot: Head Of Options at Ig -gave a brief run down on the Options and highlighted the risks/rewards of them.

Deborah Owen: investment research of cambridge ( i think she is something to do with the Fleet street Publications and their Investment strategy and Alerts newsletters -which is 155 for uk/eur and 170 for rest of the world.)She gave a good talk on the markets and currrencies the election cycles etc. Also the emerging markets -such as China. their advantages and pitfalls.

David Jones - Technical analysis and trading strategies.
Very good talk by him and presentation.

Anyway back to trading the dow and fx. managed a long and short today so far on the beast -Just watching atm.

rgds
zarif

Hope it comes good for you, Javid.

I know everyone is talking about a down channel at the
moment, but what I'm seeing is that on Tuesday the Dow
closed the gap open from the 05 Feb, and is now trying to
turn and rise. At the moment I think it's range trading
rather then channeling.

Melnibone.

Melnibone: I think you are right and on the pnf chart it is shuffling along as a congestion but from what i see i feel it is hoing to break upwards.
Javaid - I hope it does that for u so u can kick it in the bol***ks!!!

rgds
zarif

Going back towards 1150 again.
Watching to see if it dives back through
the 10min EMA.

Melnibone

Broken 10 and 20 min EMA's.

Melnibone.

http://uk.finance.yahoo.com/q?s=^GSPC&d=c&k=c3&p=e100,e50,e10,e20,e200&t=1d&l=on&z=l&q=l

Set up and been watching the above link tonight to see if it
was any help.

Don't know if it was coincidence, but each time my 'EMA Rope'
straightened out into a trend, it continued until the price
dropped down through the first EMA(10min). This marked a turn down
that ended when the price came back up to the bottom EMA(200min).

Not enough data to check how reliable this is, but using it with
my pre-thought out support and resistance levels earned me a few
S@P points today.

I'll have to experiment and see if I can refine it a little.

Melnibone.

I Like that S&P ma setup Melnibone.
Were you trading longs, shorts or both?
That's got to be worth further study.

I was trading shorts yesterday when it went to the 1150's
and longs earlier in the week when it went to the 1130's.

I'm still an old 'stick in the mud' really. I like to
keep it simple and buy support/ sell resistance.

Keeping things simple seems to suit my mental capabilities
admirably. :-)

Melnibone.

I understand completely, Melnibone.
I have the same problem. :-)

I noticed on the yahoo chart of the S&P you posted that it would have been
possible to make points both long and short.
But then that's easy to see in hindsight.

Hi everybody:
Long the dow atm. and is looking good. Will see where it tops then take a short.

rgds
zarif

http://uk.finance.yahoo.com/q?s=^GSPC&d=c&k=c3&a=w14&p=e10,e20,e50,e100&t=1d&l=on&z=l&q=l

Another coincidence?
I've added the Williams%R to see if it ties in as well.

Melnibone.

Very close to the 10660 where Ed Downes goes long.
Wonder if he'll get it this time.
It keeps making new daily highs.

Melnibone.

It's a bit high here for me to justify taking a long
ref the risk/reward.

I want to go short but my interpretation of the swing
chart suggests that the Dow indicated a swing low and
a buy on Friday.

I'll hang fire and see if I can short from higher up.

Melnibone.

The S@P has been stronger than the Dow over the past
few trading sessions.
Because of this, if the Dow makes a break for the
10750 area then the S@P will break 1160 if it goes
up by the same % amount.

If it breaks 1160 there is the danger of Bear stops
squeezing it even higher towards the 1180 area.

This would fuel the Dow over 11800 and complete a virtuous
circle.

I now need positive signals to open a short and need not
to be greedy but try and take the middle out of any move
rather than try and call a top.

Think I'll go and watch some adverts and keep my itchy
trigger finger away from the fire button.:-))

Melnibone.

Same as u melinibone have "locked in the Profits" and am going to watch the Box even if it is corry st.

rgds
zarif