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

 

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.

Afternoon everybody: I wonder what the YM has in store for us today?
Its good to see that the ftse is not the dog in tow today so far.
Reckon its going to pop up than drop or the other way round seems more logical as they may want to end the month in positive scenario.
as they say all will be revealed....
rgds
zarif

Looks like you may be right - After an initial drop, its pulling back up although the S&P is doing better than the DJ

S@P stuck where it closed the gap open
that was created last Monday circa 1110.

Ftse hovering around the the 4330/4360 swing low band
I was on about yesterday.

Bit of a Bull/Bear tussle going on at the moment.

Capital Spreads has gone to Telephone only.
MarketMaker5 keeps losing connection.

Shall I bother, or give in gracefully for the week?

Sigh.

Melnibone.

Hi Mel:
I had the same problem a couple of times with IG sysytem going Down -so i found another one as standby for emergency and hedging the position (in my case it being capitalspreads)Capital spreads is OK but the prices are averaged and the updates are not quick enought but when u look at IG&Capital screens u can play the diversity in price to get a better deal.

rgds
zarif

Hi everybody;
Early in today.
Lets see what the dow gives us today. My feeling is that it has more downside than up atm.Will consolidate around try to go north then headbound south.IMHO.
Also the american clocks update at weekend so effectively american mkt opening at 15.30gmt.So those guys on the ftse have one hour to see what effect it has.

rgds
zarif

hi Dow going up like arocket and am following it with a long until it runs out of fuel and then hopefully attach myself with a short when it drops like a stone (ie if it does that.)

rgds
zarif

Absolutely amazing - the s&p has almost hit its (my) target of 1123.

How was the course zarif? Learn anything new?