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

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.

afternoon everybody:
these are my thoughts for today.....

Well we got the drop we wanted and l expect it to stay down there testing 10,500 level for a bottom today as well. We should have a sideways motion today. It should consolidate really before breaking to the upside but if we test a slightly lower level say 10,480 then we could easily go to 10,400.
I will not be in much today as l am going a seminar in Manchester by Tom Hougaard of city index. Well let u know how it went.

rgds
zarif

DOW is having trouble getting away from the psychological
10,500.

No idea which way to call this, really. If 10,500 doesn't hold
as a support for Bull buying, then we're looking initially at 10,450 IMHO.

Melnibone.

Nobody told me the charts were b******d.
Fixing them now.
Sorted. I did them in a hurry last night. Didn't bother to check them.

Off to manchester now. will keep u updated as to what went on when i get back.
Snoball : snp chart is fine but the dow one isnt.

Left the Dow Long running and the cable long running with wide stops.


rgds
zarif

Thanks zarif. Can't think what's happening with the chart updates today.

Well, that's my 10450 hit and the S@P is now struggling
to hold 1140.

If the Bulls don't come out to play soon, this trend is going
to resemble a staircase.


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

Melnibone.

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

DOW 10,450 has held again and the S@P has finally made
a higher intraday low.
The NAZ really needs to retest 1450 again to see if it will
hold as resistance.

Careful with your shorts here, this may turn towards the close
as Bears take profits and institutions tail off the selling.

Melnibone.

Looking like that new 'X' on the S@P chart was a
Bull trap.
We've just done a 3 box reversal when it hit 1130.

I see that the NAZ failed to get back above the 1450
level I mentioned yesterday. If Oracle gives bad news
after the bell tonight it could extend this down move.

I keep looking to buy the S@P for a reversal, but my
EMA rope is still very firmly down. It should really
test 1121 now. If that fails, I can see us hitting
S@P/Dow 1100/10,000 respectively before this retracement
is maybe over. There's a lot of fresh air
under the DOW until we reach 10,000.

Melnibone.

I have been busy with other things the last few days and have been going through the graphs for the Dow, S&P & Nasdaq. I am thinking we might see an up day from 10165 on the Dow June today. However, it is worrying how much of a correction they all seem to have taken.
Not sure about opening any positions yet. Will wait till market opens I think.

Javid

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

NASDAQ EMA's have just tied themselves into a knot.
S@P looks similar.

Decision time for the US.

Melnibone.

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

Just look at these EMA's on the DOW at 10,300.
I don't know how anyone can call this with any degree
of certainty. I don't care what 'system' they use.

Melnibone.

http://uk.finance.yahoo.com/q?s=^DJI&d=c&k=c3&a=fs,ss,w14&p=e10,e20,e50,e100&t=5d&l=on&z=l&q=l

Looking at the 5 day chart, it would appear as if the DOW has closed
the gap open and is now continuing the 3 Day trend.
You could almost put a ruler along it.

Melnibone.

 

1170

X

1160

X

X

O

1150

X

O

X

O

1140

X

O

X

O

1130

X

O

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

O

X

840

O

X

830

O

X

820

O

X

810

O

X

800

O

790

 

Updated SnP PnF chart. If this prints 1110 it will be the first time we've had a lower

'O' since the Bull Run started a year ago.

Melnibone

S@P just dipped below 1110, another lower 'O' on the chart.

That's got to be Bearish. Unless this is a Bear Trap, this
could go all the way to 1030. That would mean the DOW breaking
10,000 and the 'Fear' really would kick in then.

Melnibone.