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

closed the long earlier at 72pts profit. Now seems to be hanging about after closing the gap and will see what happens after the Europe closes. I have taken out a short atm.

rgds
zarif

What do you guys/gals reckon the dow will do? My idea is that it will trail down between 6pm-8.15 time frame in a slow zigzag.Thats my opinion yours may be different.It takes two views to make a market.

Well done Zarif. Just logged in, must have missed the best moves.MM

MM: I think it will zigzag down till about 8.15pm then track nortwards ar the end. Thats my opinion so watch and see what happens. The short which i took out earlier is 50pts positive atm.
so lets see what happens now.

rgds
zarif

Can anybody advise me why the Dow moved so much up after dropping first thing this afternoon

Orky

closed the short 90pts in profit now waiting to see moves after 8.15pm.
orky -pure manipilation most probably.

Orky sometimes when there is either a gap up or gap down then the market fills it,then decides what to do.
I have just vetured into a small long now lets see what happens.

orky - isent you mail by mam did you get it? if not just email me directly on:
zarif_virmani@hotmail.com
I will try to help u as much as i possibly can.

rgds
zarif

Wow must be my day the small longs already in positive territory -now to see how far the kite can fly!!!!!

phew - i knew it was too good to be true -got out of the long 8pts in credit.
just watching now.

Should give a gap down open again on the Eurozone Indices tomorrow, dammit!

I was going to open a short on the Eustox50 near its close when it crept back
above 2750 to cover this eventuality, but Mrs. Melnibone was hogging the
computer on Ebay! Grrrrrrr.

Melnibone.

http://uk.finance.yahoo.com/q?s=^STOXX50E&d=c&k=c3&a=m26-12-9&t=1y&l=on&z=m&q=c

I know it's a Eurozone Index, but it is the DOW JONES Eustoxx50 so this
thread title loosely covers it. :-)

I believe its due a drop into the 2600's and it tends to equate nicely
with the Macd where the signal line is just about to drop through the
zero line.

Any comments?

Melnibone.

melnibone just looked at the chart and your analysis is correct.
at the onset either gap up or down i reckon it will spend most of the time on lows and heading lower.
With ref to the dow -same as above either gap up or down asides it is going to be heading lower till midafternoon yankee time.
So lets see what happens tomorrow.
On friday will try to head higher.

mel if you email me on
zarif_virmani@hotmail.com
i will send you my working out.

rgds
zarif

Zarif, you have mail.

Melnibone.

Melnibone, would the fact that the macd peaks & troughs are at similar levels indicate that the STOXX50 is trading in a range?

That's not the way I would read a Macd, Snoball.

I look for the signals created by the divergance in relation
to the signal line and the Zero line.

Melnibone.

Thanks for the e-mails, Zarif.
Interesting.

Melnibone.

Zarif- tried to e-mail you, but says address does not exist !MM

MM: thats odd as i recieved melnibones email yesterday are you sure you entered it correctly as there is an under score in the email and not a hypen or dash -a common mistake to make. Anyway try again and will give you another address aswell.

zarif_virmani@hotmail.com

or

zarif.virmani@btopenworld.com

rgds
zarif

Below is Tom Hougaards Thoughts for the market for today
rgds
zarif

Good morning,



The Intel news caused a big gap down which was immediately bought. The low set around 1107 in the SP500 will act as the Make or Break for the time being. If the market trades below 1107 the market should head down for the count until the end of the month. Stocks are bleeding and the bounce was a pure day trader phenomenon. Later the market retested the area and held. The good news amid this bearishness is that we saw some buying in the final hour of the day.



I am basically of the opinion that as long as we are below 1116 the market is in a water fall decline pattern. I got no expectations for Thursday, but Friday looks higher to me.



Several stocks look interesting. One index that holds the key to the market is the SOX. It may be a perfect buying opportunity right here with a tight stop. If the bulls cant support the SOX here then we should much lower going into the end of the month.



It seems every morning I come in the SP500 is trading around 1112. Sooner rather than later we will break and I will go with the flow. 1108 or 1116!!! In between is day traders paradise.



Tom