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The Dow Jones fell back 25 points after Mondays big gains on weaker-than-expected economic data. The Nasdaq fell back below 2000 but recovered in late trading to finish higher at 2009. Equity markets in Asia ended mostly higher amid growing optimism about the economic prospects for the region Euro rolls on and registers another all-time high against the dollar. Asda, said it enjoyed record trading at its stores during the seven calendar days before Christmas.Meridian hotels to be bought be Lehman for 1.3 Billion

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Markets Close at 1230 Happy New Year Traders!	13.30 Initial Jobless Claims (w/e 27/12)
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morning all.

Happy New Year to everyone.

Mike

Morning all,
All the best for the New Year
David

Updated 12/30 for Wednesday's market.
Key DOW Levels for 12/31
UP Above 10,440
DN Below 10,400

Consolidating
Dow trades sideways within tight range, consolidation forming.

From prior commentary, "...The 15 and 60 Minute Charts each clearly show that the Dow continues to trade within a clear and solid uptrend. Look for the index to continue trending higher within its channel in the medium term, especially if the Dow continues to hold above its lower boundary at 10,360..."
The Dow pulled back slightly for the session today, losing about 25 points, and is now forming a tight consolidation at the highs of the current upswing, seen in the 15 Minute Chart. The index continues to remain near the highs of every upswing, as a consolidation is typically followed by further upside movement.

The Dow continues to hold above the steep lower trend line, seen beneath the lows of the 15 and 60 Minute Charts. Look for continued strength above this line. If 10,400 is crossed to the downside, we would expect to see a retracement begin there.

Short Term Dow

Short term, the Dow may be forming a higher low above 10,419, seen in the 1 Minute Chart. Such a pattern implies strength for tomorrow's Open. Otherwise, a break below 10,419 will indicate weakness.

Medium Term Dow

In the medium term, we are still Long the Dow from 10,190 and will hold stops at 10,400, locking in 210 points of profit for the trade to this point. We will want to stay Long (or add to Longs) above 10,440, and will look to enter Shorts below 10,400, with 20 point stops.

NASDAQ & S&P

The NASDAQ and S&P each traded quietly sideways throughout the session today, forming tight consolidations at the highs. Look for a break from the consolidations for direction tomorrow. *

Summary

The Dow is holding at the highs within the boundaries of a tight consolidation. An upside continuation is most likely in the medium term, but a break of the major lower trend line will signal weakness. A break below 10,400 will signal such weakness.

morning all: Posted in absence of PB.
rgds
zarif

Morning. I hope that you all have a happy,healthy and prosperous 2004.

mornin all. Best Good Wishes for 2004 Doug :-))

morning

I have a new pc (ah Santa was good to me!!)

I know someone told me before, but how do you stop those wretched grey boxes from popping up??

long OXS @ 82.7, AVM @ 79.1 (June '04)

Happy New Year to all!

Andy.

Closed all my CFD positions and not going to do anything until after the new Year!

Andy - You like mining shares!

Not a regular on this thread but I would like to wish everyone a cracking 2004. In the meantime, I will continue to trade up my SIPP on the SIPP thread (Traders Room). Longs only, there's the rub!

Hope to see one or two of you at Hook on 14/1......

http://www.moneyam.com/InvestorsRoom/ShowPostList?fID=1&tID=1889

Chin chin!
Bones

A site that may be worth putting into favourites, and taking a look at from time to time (??) http://www.courtservice.gov.uk/judgments/judg_home.htm

not an employee of the LCD are we perchance,little woman? (re: courtservice.gov)