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

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

Went long the S&P June future at the open for 1150.3.
Don't fancy shorting this market at the moment.

Melnibone, I prefer the ma's on their own. Anthing else tends to cloud the picture, for me. Remember your 'keep it simple' rule?
I agree with you that it's long at the moment. I'll post my S&P chart shortly.

S&P 500

Snoball: How are you and how is trading? I managed a long and short on the dow today. The long paid very well.
The s&p chart is very well done. If u dont mind just send me the link and will put it on the header.

rgds
zarif

Hey people,

I have just got in and rushed to the computer to see what has been happening this evening (had to go out for dinner). Well it's seems to have been a good day and I hope everyone on here has done well.
Anyone fancy making a prediction for tomorrow? I believe our old friend Greenspan is talking at some point tomorrow.

Nice chart snoball.

You maybe right, perhaps I am starting to drift away from
keep it simple.

I'm getting the impression that all the technical indicators
do is give me a view in the rear view mirror.

I always feel more comfortable looking at support and resistance
and using swing and P@F charts to ride the trend between them.

Melnibone.

morning melnibone, i think that simple is always the best policy. for shares and long indices, i tend to use moving averages. 10,20 exp for short term and 100,200 simple for long term. in addition, i use support and resistance like yourself. if i really want to know more then depending on the graph, i will use stochastics, volatility and rsi. dont know if you really needed to know all that but i thought i would let you know anyway.
anyone like to make predictions for today?

Thanks Javid,

I always like to hear other peoples views.

I always use support and resistance: for the trend
I use:
Long term, P@F charts.
Medium term, swing charts.
Short term/Intraday, noise and 'seat of the pants' watching
daily/weekly highs and lows.

I've been experimenting with technical indicators to see
if they give an edge for intraday, but am not yet convinced
as to their use.

Melnibone.

Hi zarif. All is well but got clobbered on Reuters, using full margin.
I have to trade the S&P now.
The S&P link is http://www.cashathome.co.uk/s&p.htm

Melnibone, have you looked at Fibonacci retracements on the S&P and the Dow?
They are quite interesting.
Most of the oscillators seem to work once you have an established trend. At least on a superficial level. After that it gets too complicated again.
I quite like longer time frame rsi's (like the 28 day) but you don't really get enough signals. In the end it is down to price really: is it going up or down?

snoball - you going long or short on S&P?

quiet on here today. greenspan is talking at 5.30pm gmt about us deficit i heard.

javidshaik, I'm still long the S+P from yesterday. My stop is at 1150 break even.

Closed my long javid.

Trying a short scalp.

snoball i am on a short aswell and am going to live it to run. The strategy here is a SWIM -small stake with a wide stop in the medium term.
Also am long the eurodoll from 1.2258 and am looking to long the cable atm.

ps: i tried to put the snp in the header but no joy.
can you give me the idiots guide again how to do it.?

sorry to hear abt reuters - i thought you had picked a good one especially when it rocketed up. The main question is for all of us "when to hold and decide when to Fold!!!!"

rgds
zarif

Hi zarif.
Scalping long now! Can't seem to get it right today.
I think i'll give it a break for the day. Overtrading.
I still think Reuters will turn out ok. I just mistimed it - badly.