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

I hope you closed that short, zarif.

Hmmm....I thought I smelt a (Federal) rat....but apparently not....The Men in Black

Snoball -closed the short in good proit and then took a long which just cloed earlier in good stead.Just looking atm.

rgds
zarif

The S&P chart looks like the Dow today.

i closed my two longs but opened a short at 10500 april. i am confused after watching the massive rise earlier today and wonder if we are likely to get below 10500 on the dow in the near term. any ideas people? anyone have an expalantion as to why we saw a massive increase in all three markets after such appaling news?

javid

Hi all,

Just logged on after spending the day shopping with
Mrs. Melnibone.

I see I've missed all the fun. I think you would have to
have been pretty quick and smart with a reliable connection
to have traded that little lot.
If your platform went down and the phone got permanently
engaged you would have been losing money as fast as you made it.

Javid, I think what you saw was pure trading. Bears taking profits
after the open and being chased up by Bulls. Bulls then took profits
whilst being chased down by Bears. Stops would have been going
off all over the place which would have added to the volatility
and exaggerated the moves.

Everyone will be wary now and matters should settle down a bit
as some protect their profits and others lick their wounds.
Don't ask me where it's going. Haven't got a clue.

My SKP longs seem to have sat bemused on the sidelines and then
crept up a couple of %. So I'm happy.:-) Should help to offset
Mrs. Melnibone's shopping.;-)

Melnibone.

 

1200

1190

1180

1170

X

1160

X

X

1150

X

O

X

1140

X

O

X

1130

X

O

1120

X

1110

X

1100

X

1090

X

1080

X

1070

X

X

1060

X

X

O

X

1050

X

X

O

X

O

X

1040

X

O

X

O

X

O

1030

X

O

X

O

1020

X

X

X

O

X

1010

X

O

X

O

X

O

X

1000

X

O

X

O

X

O

990

X

O

X

O

X

980

X

O

O

970

X

960

X

950

X

940

X

930

X

920

X

910

X

X

900

X

X

O

X

890

X

O

X

O

X

880

X

O

X

O

870

X

O

X

860

X

O

850

X

840

X

830

X

820

X

810

X

800

 

Another X just gone on the PnF chart.

So what are we looking at?

A new leg up or a Bull Trap?

Any views?

Melnibone.

http://uk.finance.yahoo.com/q?s=^GSPC&d=c&k=c3&p=e10,e20,e50,e100&t=5d&l=on&z=l&q=l

If you start at the open on Wednesday, you can lay a ruler
along that 3 Day (Wed/Thu/Fri) trendline.

Melnibone.

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

And so far, today, even after all those shenanigans, it's
still just chugging along following that same 3 Day trend.

Melnibone.

melnibone a quick look ant your pnf chart after a bit of congestion the main trend is maintained as a #"shuffle" pattern.Reckon on the way up.
rgds
zarif

Thanks for the reply Zarif.

The price action reminds us to be wary of trying
to buck a main trend and call a turn.

I bet there were a few Bears caught out today when
everything opened down and the Dow fell below support,
only to come back up like a rocket.

Melnibone.

S&P and Dow charts updated.

Hi everyone -early in today.
Snoball thanks on the updates on the charts.
Croc-nice of u to drop in and post a nice chart-please keep it up.

What are your views on the dow today? Mine are that not much happening results wise so should have plain sailing and make a move today (hopefully upwards!!).I think that it will shoot up at the open and than sail south possibly 2 days to retest the 10520 level than rally up this week past 10700 -to break the 11050 level.thats my gut feeling and of course means nothing except let the market decide your actions.

rgds
zarif

Hope your right about that Zarif. Would be nice to see early upward movement so I can look to close a long then down she goes to close my short. However, if we dont see and downward movement today or tomorrow, I think we will at some point this week.

javid

Don't know when we are going to break out, or which direction.

Market was fairly strong considering the disappointing
job numbers. This will spook a few Bears so I would expect
some initial short covering if the market starts to move
up again.

I'm looking at the S@P as usual and am keeping it simple.
Looking for a range of 1149 to 1162 and don't intend
to buy or sell any initial breakout of these levels.

Good luck.

Melnibone.

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

Little intraday inverse head and shoulders just formed and
the EMA rope is very tight.

We might actually move somewhere and test the highs with
a smidgen of luck.

ZZZzzzzz

Melnibone

Watch it bounce off 1150, Melnibone.

Javid, you have mail. Sorry I didn't reply earlier, I've been out all day.

good short on the dow today managed 100pts.
Have taken out a long now-lets wait and see what happens.

rgds
zarif

Looks like there's going to be a nice gap down
open on the Eurozone indices tomorrow.

US didn't even try to have a rise into the finish.
Looks like the big boys who got caught long pre-open
on Friday, expecting good job figures, have squared
their positions and there's no buying pressure left
to manipulate the market higher to allow them an exit.

Bears might finally get some momentum behind them and
give the market the retracement it's crying out for.
DOW is very close to the psychological 10,500, it should
at least test it to take away some fear from the Bulls,
they must be wondering where the support line is.

Melnibone.