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

Morning one and all:
Off to a Gann Seminar at stockport by Fred stafford and Tony Zafar
Happy trading
Will keep u updated abt the seminar when i come back.This seminar is a two day affair.
Have left a cable long open June contract.

rgds
zarif

My S&P short was closed for one point.
Waiting to see whether to continue short depending on the close.

Have fun zarif.

Hi snoball
I am long the YM, just seen a blue position turn red

Scalped another point.
I'll be back later to post the charts.

hi jeffmack. good work. i've left it 'till tomorrow.
nite for now.

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

Everything knotted right up now.
Could be revving up for a good move.

Melnibone.

Bit slow today, Melnibone, but still bearish for now.

Down 1.7 points scalping the S&P.

 

X

1160

X

X

O

1150

X

O

X

O

1140

X

O

X

O

1130

X

O

O

1120

X

O

1110

X

O

1100

X

O

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

X

930

X

O

X

920

X

O

X

910

X

O

X

X

900

X

O

X

X

O

X

890

X

O

X

O

X

O

X

880

X

O

X

O

X

O

870

O

X

O

X

860

O

X

X

X

O

850

O

X

O

X

O

X

840

O

X

O

X

O

X

830

O

X

O

O

X

820

O

O

X

810

O

X

800

Everything does seem to be getting Bearish, snoball.

Take a look at this, you know I'm a fan of PnF charts. They're usually pretty reliable,

especially when you correlate them with swing charts.

As I posted on the other thread today, FTSE also broke the double PnF bottom and

stalled when it tried to get up past the last swing low.

This has now forced me to switch strategy from buying Blue Chip dips to shorting

Indices pops.

Eustox50 is also looking Bearish.

Melnibone.

Updata still maintain a bullish stance with their interpretation.
This is from David Linton at Updata.

So which trend are we in? Short term we may be in downtrend, but the long term
picture is still fairly clear. Looking at a Point & Figure chart of the S&P
we can now see 5 'o's, the biggest pull back in a year. The trend lines are
defined (45 degrees) by the chart remember. Over the last year we have moved
from downtrend to uptrend. While there are lots of reasons to be bearish, this
chart is not one of them.

Hi snoball,

I see David Linton is using a close price for his chart.
I was using intraday prices for my S@P chart.

Just goes to show you can get different results from similar
exercises.

I hope he's right, investor confidence will got shot if we
drop much again and that won't be good for the markets in general.

Either way, I'll follow the market in what ever it does.

Melnibone.

Ah, right Melnibone, I understand.
So actually he bears out you interpretation in that the short term trend (intraday) is bearish within the main bullish (end of day) trend.

Took me a while to find this thread!

Looks like the DJ is going to bounce off 10200 rather than go through it!

Lw: Exactly my sentiment aswell i was thinking tops would be 10250 and then hopefully splat down.
Just watching atm.
Had a short on the cable and is doing well just locking in profits.Lets see how far it will go down than bounce up.

rgds
zarif

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

Looks like the S@P is on a gap filling exercise to 1110 where it
gapped down from on Monday after Friday's close.

Be interesting to see what happens if/when it gets there.

Melnibone.

I've just been looking around my US trading platform (myTrack) - I've only had it for more than 5 years and never noticed all the facilities! Like this:

Market Pulse: Dow Jones Industrials as of 3:19pm 03/25/04 Page: 601


name price change dow-ch volume name price change dow-ch volume
AA 34.39 +1.23 +9.11 30183 IP 40.97 +1.01 +7.48 16845
AXP 50.14 +0.11 +0.81 32120 JNJ 50.24 +0.59 +4.37 53326
BA 39.78 +0.75 +5.56 14260 JPM 41.50 +0.76 +5.63 47424
C 50.35 +0.56 +4.15 79032 KO 48.58 +0.09 +0.67 26309
CAT 77.08 +0.75 +5.56 12744 MCD 28.38 +0.68 +5.04 19721
DD 42.08 +0.93 +6.89 25117 MMM 80.89 +1.46 +10.81 20033
DIS 25.14 +0.37 +2.74 34388 MO 53.24 +0.27 +2.00 19580
EK 25.65 +0.85 +6.30 14645 MRK 43.86 +0.85 +6.30 40100
GE 29.66 +0.48 +3.56 310493 MSFT 25.12 +0.70 +5.19 283873
GM 45.75 +0.55 +4.07 16143 PG 104.72 +1.70 +12.59 21675
HD 37.02 +1.03 +7.63 45996 SBC 24.12 +0.41 +3.04 44531
HON 32.88 +0.90 +6.67 19822 T 19.73 +0.31 +2.30 24891
HPQ 22.39 +0.77 +5.70 56305 UTX 85.66 +1.61 +11.93 15886
IBM 92.49 +0.72 +5.33 37419 WMT 59.93 +1.35 +10.00 67501
INTC 27.66 +1.13 +8.37 223066 XOM 40.17 +0.07 +0.52 72272


INDU10218.82 +170.59 Divisor: 0.13500289

Well the DJ managed to break 10200 - and I'm off now for the night!

And the S@P has closed the gap open down from Monday
but..................
has left a gap open higher today. :-)

Now then, have we just made a lower swing low at 1089
and have now set off to make another swing high or have
we just had a breather and turn down again.

If it drops towards the close the FTSE won't know what
to do tomorrow. :-)

Decisions, decisions.
Good game this.

Melnibone.

little woman - useful facility that pulse.

If you lose this thread you can always get to it from the link in the cafe header. That's why I asked GD to put it there, bless his cotton socks.

I have added another dooberry on the charts. After an article I read in Trader magazine I have added a target. The target is calculated as the closing price plus/minus (depending on whether long or short) the (8 period)Average Tue Range. The target is effectively the limit stop. This means the target is dynamic according to the volatility of the price at the time of the signal. I will be working on a stop based on a similar principle.

I'm going to have a hot lemon and honey with some disprin and hit the sack. I may get up out of my bed tomorrow and I may not.

Oh dear, snoball - it's a real lingering "cold" doing the rounds. Although I thought my was finished 3 weeks ago, I still have a irritating "sniffle" from time to time.