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

US is in the middle of a trading range, IMHO.

This could break either way and still stay in the
range without establishing a trend.

Just need to stay loose and not fight any short term direction.

Melnibone.

melnibone - A good afternoon to you.
You are quite right.It seems to be consolidating and bobbing within a range and UNLESS it makes its mind up or down then jump on the boat making sure it has left the shore or surely get grounded!!!!.
Ftse on the other hand is easier atm with 4600 say as top and see if there is a downside looking good for a quick short stam. No long holdings imho.

rgds
zarif

I think we've just seen a fine example of a Bear squeeze
as they took diminishing profits.

S@P is now back to the pre-Greenspan effect. :-)

Melnibone.

They sure fooled me!

I'm quitting trading on the Indeces for now and am going to give cfd's a try on stocks for a while.
Hargreaves Lansdown have given me 15 free trades as a promotional offer at the Master Trader seminar last Saturday, so I'll give that a go for a while.

Good luck out there.

I won't be updating the charts regularly.

Good luck with the stock Cfd's, snoball.
That's where I make most of my money.

The index moves often take the stocks back to good
support levels and I find them more predictable and
less liable to tank badly if you pick Blue Chip divi
payers.

May I suggest that you concentrate on liquid big caps
at first?
You'll have no problems with closing positions with the liquidity available,
the spreads are better than mid-caps,
they're analysed to death and are less liable to give
you a large drop.
When they do drop, funds and bottom fishers buy them back
cheap and you often get a good bounce which alleviates your
loss if you happen to get caught out.
If you had no position when they drop, this is where you can capitalise with a
relatively low risk buy as the large drop has already happened.

Melnibone.

If the S@P close above 1134 today, I will be looking for
further strength next week, subject to any 'event' over the
weekend, of course.

Melnibone.

Thanks for your suggestion Melnibone. Sounds sensible to me.

Snoball:
Glad u are going to try "new pastures" -but i hope u shall keep on posting and as usual your comments and work is always appreciated.
Let us know how u r getting on with the cfds and the pros and cons of it-you never know u might end up converting us to it aswell.
Melnibones advice is sound as usual.
Good luck mon ami and trade safely and wisely
wishing u all the success
rgds
zarif

managed a long and short on dow -nothing spectacular.
Going to watch the box now and play with the kids,
rgds
zarif

ps: the inv.bb. is very quiet today.

afternoon everybody:
Waiting for the Ym to open.
Seems to be ranging and not going anywhere much atm.It like the market is on a hair trigger and could either rocket up or down.Go with the flow -if in doubt stay out.
trade wisely and safely

rgds
zarif

had a good long on the dow earlier which i closed in good profit.
Guess what the ig index site has gone down -thank god i have capital spreads for back up -lets see if it makes a move and gives a good trade.

rgds
zarif

afternoon everybody:
Waiting for the Ym to open.
Pre-open the futures are looking weak.
My feeling is that it is going to pop and drop.
As usual we shall let the market decide our actions.

rgds
zarif

Had a nice quick short daily dow and am just wayching atm.

zarif- i need to speak to urgently.can u let me know how please

afternoon everybody:
The futures are looking weak and have been ski-ing down the slopes of the ftse.
Are we also going to Ski down the slopes on the dow today?

as usual we shall let the market dictate our actions.

rgds
zarif

The disappointment in first quarter U.S. growth weighed. The U.S. economy grew at a 4.2 percent seasonally adjusted annual rate in the first quarter. Economists were expecting growth of around 5 percent, according to a survey conducted by CBS MarketWatch.

GDP is up 4.9 percent in the past four quarters, the biggest gain in 20 years. Inflation measures jumped. The dollar held gains but moeved off a bit from highs.

Separately, the U.S. weekly jobless claims fell 18,000 to 338,000.

closed the short earlier and am long atm.Going with the flow.

rgds
zarif

closed the long out in profit -just having a cuppa tea now.

Dow seems to be using 10,400 as resistance for the last two days.
This seems to equate to about 1128 on the S@P.

US data was Goldilocks data, not too hot and not too cold.
So another reason needs to be found for the market to move
out of this range. Probably the Fed meeting on Tuesday?

It might even test the recent lows if it keeps tracking down like this.

Melnibone.