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

S@P and Dow slide halted at S2.

EMA rope and other indicators still showing down.
We're actually below the 'Greenspan Effect' lows
of last week.

This may not stop until S@P/Dow 1100/10200 the way it's
going.

Melnibone.

melnibone;
managed the short and got out in good profit then took a daily long and it was in credit by abou 80 went to refresh the site and guess what the capital spread site went down -shit anyway should have closed itself out in profit.

rgds
zarif

good nite and we will do it all again tomorrow

Yeah, it went down just as I was about to open a
long on the S@P as my indicators showed a possible last
10 min pullback. Couldn't get my position on.

Melnibone.

X

1160

X

X

O

X

1150

X

O

X

O

X

O

1140

X

O

X

O

X

O

1130

X

O

O

X

O

1120

X

O

X

O

1110

X

O

X

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

930

X

920

X

910

X

X

900

X

X

O

X

890

X

O

X

O

X

880

X

O

X

O

870

Latest S&P update. We're still in the noisy range but nearer the bottom of

it than the top. Swing chart isn't giving me any signals either. Can't tell whether

to look for long or short signals so continuing to just scalp until it all resolves itself.

Melnibone

afternoon everybody:
Are we going ski-ing down the slopes again today or mountain climbing?

KEY EVENTS TO WATCH FOR:

8:30 AM ET. Personal Income (expected +0.4%; previous +0.4%)

8:30 AM ET. Personal Spending (expected +0.7%; previous +0.2%)

9:45 AM ET. Final Univ. of Michigan Sentiment (expected 94; previous
96.8)

10:00 AM ET. Chicago Purchasing Manager's Index (expected 60.0;
previous 57.6)


The STOCK INDEXES & MARKETS

The June NASDAQ 100 was slightly higher in overnight trading due to
light short covering but remains below the 40-day moving average
crossing at 1448.85 and last week's low, which has opened the door for a
larger-degree setback into early-May. Stochastics and the RSI have
turned bearish signaling that sideways to lower prices is possible near-
term. The June NASDAQ 100 was up 1.00 pt. at 1437 as of 6:38 AM
ET. Overnight action sets the stage for a steady to firmer opening by the
NASDAQ composite index later this morning.

The June S&P 500 index was higher in overnight trading due to short
covering and is working on a possible inside day as it consolidates some
of this week's sharp decline. Stochastics and the RSI have turned bearish
signaling that sideways to lower prices is possible near-term. Multiple
closes below last week's low crossing at 1154 would renew this month's
decline into early-May. The June S&P 500 Index was up 2.60 pts. at
1116.80 as of 6:39 AM ET. Overnight action sets the stage for a steady
to firmer opening when the day session begins later this morning.

managed a quick long and short on the dow atm -just following it.

rgds
zarif

closed the short earlier took along and closed that now. just watching to see how far up it goes than short again.
rgds
zarif

managed 2 longs and 2 more quick scalps.
Dont know what its going to do for the last 2 hours -just watching and having a cuppa T at the moment

What happened there to spook the Dow

Not sure what's happening here, Jeffmack.

Most indices are showing a swing low being made.
Fed has made it clear that rates are going to rise.
Everything has bounced but is coming back again below Monday's highs.

Melnibone.

Cheers Melnibone. I was long at the time with a tight stop so not much damage when it dropped.

Just updated my data for today's action.

S@P, DOW, Nas100, Ftse, DJEustox50 are all now
indicating a swing low in place.

Ftse is odd man out in one respect. Because it was closed
yesterday, it is the only one that has left a gap open higher
behind it because it played catch up with the rest on this
morning's open. Not all gaps get closed though.

Will be looking for long opportunities tomorrow to add to the
one I left open to cover the upside.

Dow 10350 and 10400 will cap any other rises until broken IMHO.

You on holiday, Zarif? Or just taking a break?
Unusual for you not to post on this thread.

Melnibone.

menibone and everybody:
Caught the blasted virus on my Pc yesterday and had to format the drive etc etc and just back online now.
Had to trade via dog and bone.

rgds
zarif

Afternoon everybody:
The Dow yesterday rallied up and then gave upo everything closing flat(we wont argue about a few points up within friends).It looks like an ominous sign -lull before the storm -the question is Is it going to storm UP or Pelt Down?
My gut feeling is that its going to POP and Drop -it might even forget the pop bit.So trade safely.Just my opinion-but then agin the market can do anything.

rgds
zarif

What i just dug up from the Saxo Bank site for Equities

Today's Stock Market View


Traders's Note: Yesterday saw yet another rally accompanied by yet another sell-off. In the pre-market, it looks like the bulls refuse to be kept down, as the market looks set for still another rally attempt. As long as we stay below upside swing levels, however, the downside potential still appears ominous.

Economic Items This Week:

Today: German Employment Data (slightly worse than expected), German Services PMI (slightly worse than expected), US ISM Services (out at 14:00 GMT), US Weekly Crude Oil Supplies (out at 14:30 GMT)
Thursday: German Services PMI, UK Services PMI, Bank of England Announces Rates, ECB Announces Interest Rates, German Factory Orders (Mar.), US Weekly Initial Jobless Claims
Friday: German Industrial Production (Mar.), US Unemployment Rate (Apr.), US Nonfarm Payrolls (Apr.), US Wholesale Inventories (Mar.), US Consumer Credit

Market Comments:
This market is white hot and is treacherous a one I have ever seen for the day trader. The short term glasses, if they haven't fogged up too badly, seem to allow for another rally attempt to as high as and possibly slightly exceeding yesterday's highs. Further out, I still expect this market to crumble, as long as we stay below the upside swing levels. The sell-offs have really cut deep for many stocks, but in down markets the rallies can really shake the bears with their momentum. So it appears we may have to white knuckle one more rise before we see a re-acceleration to the downside.

One reason for a possible rally would be the slightly more dovish than expected Fed statement, which seems to be allowing fixed income some wiggle room to the upside. This is also a relief for the stock market, at least very short term. Still, the inflation dragon is on the loose - as we will likely see in today's ISM Services Prices Paid number, and this Friday's employment report could rekindle its fiery breath (with a strong number) or could set in doubt the health of the economic recovery (with a weak number). And neither of those scenarios would seem to offer an upside exit for stocks.

All commentary in this section is for the June futures contract of each index.

DAX - the DAX made another feint at recent lows, but quickly found support this morning and rallied back above 4000. This rally could extend even further, possibly as high as 4050 before downside reappears. Further out, 3700 and lower may come into view for this market cycle. Trade Positioning: Short at 4050 with a 35-point stop.

FTSE-100 - the FTSE rallied a bit more than expected again and looks like it wants to try for a double top in the coming couple of days. The index could therefore make it as high as 4600 before selling off again - initially to 4470 support and then perhaps beyond to 4350 for the cycle. Trade Positioning: Stand aside.

Nasdaq-100 - The Nasdaq-100 rallied frantically in the wake of a slightly more dovish than expected Fed statement, but quickly sold off into the close. Overnight, the futures were way down, but now they have been bulled up nearly one percent from the lowest levels. This sharp rally may continue and bring the index as high as 1450 before it meets resistance and falls again. A break of the 1365 low could quickly bring 1250 into focus. Trade Positioning : Short at 1445 with a stop at 1467.

SPX – The SPX also rallied and sold off yesterday in the wake of the FOMC, and is in a rallying mood once again in pre-open trading today. There could be a bit more upside, and we could even go a hair beyond yesterday's best of 1127. Further out, the technicals argue for a retest of the 1085 low, which if it fails, could bring 1020 into focus to the downside. Trade Positioning: Sell at 1123 with a stop at 1136.

Dow - The Dow may rally again toward the 10350 area or slightly beyond, but further out, looks set for a retest of 10000. If that psychologically important level fails again, this could bring 9600 into view in the coming weeks. Trade Positioning: Short at 10350 with a stop at 10440.

John J. Hardy
Saxo Bank Market Strategies

Good read that, Zarif.

Roughly the way I'm looking at things. Not sure if his upside
before shorts are high enough on the S@P or Dow.
I'd look more to 1140 and 10,400 to cover more of the noisy
range on the P@F charts.

But my Delorean is no better than his. :-)

Melnibone.

Melnibone:
I agree with you as 10400 is where it has been running out of steam lately.If it breaches that decisively than its a totally different ball game.

rgds
zarif

ps: am long from earlier on and am taking the bus ride up and locking in as we go.

Just scalping today.

afternoon everybody:
the ftse,dax,cac etc etc all looking like ski slopes.
The Boe has raised interest rate by 25 bases points ECB has left it unchanged at 2.00%.
The Short from last night on the Dow is looking good.
I think we shall see decisiveness tomorrow after the Non farm payrolls. Other decision coming today.

I think on the SnP 1100 is the main level to watch for breakdown and 1125 in the mid and 1150 for a up up and away.

be careful today as there is no harm in sitting on the fence and just watching.

rgds
zarif

Dow/S@P/NDX 10220/1110/1400 holding up as support
at the moment.

Melnibone.