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

Zarif, I'd be interested to hear your method of scalping. Are you trading the index or individual stocks?

baughfell:
I Trade mainly the Dow index, Sp500 and dax -very rarely the ftse. Individual stocks i dont do.

Afternoon all:
So what Do we think Monday is Going to bring Us?
My view is that we are going to have a bit of a bounce today (bear squeeze?) and that the general trend is still down so best to scalp in/out otherwise safer to short the rallies. If in doubt stay out. Also watch the oil prices as the indexes are doing the opposite to the oil prices. I feel todayt we are going to get higher prices as the day goes on. theideal scenario being a higher opening and then trailing down till say 3pm gmt and then track upwards. Thats my view and can be blown to smitherens.Dyor Nag.
Ps: look at snoballs Dow Chart as it depicts the scene quite well.

rgds
zarif

Afternoon all:
Data out of Us at 13.30.
Well we had a bit of a bounce yesterday, the oil retreated of the highs yesterday.The Volume was low as usual the trin was around 0.37 so what does it all mean?
My take is same as before short the rallies.With trin at that level suggests to me a retrace sell off at beginning or close than higher to sideways prices.
thats my view but will see what unfolds before jumping in on the playing field.
rgds
zarif

The Bullish Percent Index looks interesting.

The Bullish Percent Index appears to be turning bullish.

Afternoon All:
Well we had a rally yesterday and in my earlier posts did say that we have a good chance of going Up on 18 -19th Aug.- albeit on small thin volumes. So what are we going to get today with the Oil Gushing past the 47USD mark and no relenting? Also today is the jobless figs. Leading Indicators and Philly fed.
Tomorrow is double witching day and bear in mind that we have had nearenough 4 UP days. i think we will have a volatile market and hopefully be able to scalp our way.Remember the countertrend is UP but the main trend is down.
Look at The Dow Chart that Snoball So generously gives to Us for a better understanding the market.
trade wisely and safely

rgds
zarif

Boy its quiet on the boards today.

yep!

http://uk.finance.yahoo.com/q?s=^SPX&d=c&k=c3&a=r14&t=5d&l=on&z=m&q=l

Been a bit busy to post or trade today.
Going to the airport in a bit to pick my daughter up
who is coming home for a long weekend.

Steady rise off a double bottom at 1060.
Higher oil prices don't seem to be having any braking affect.
Folk are no longer sure if this is a bounce in a new downtrend,
or if we've just extended the 8 month range a little and are now
heading back up to the top of it.
I dare say we'll find out when/if it comes back up to the 200Ma
and decides what to do.
Just following it, when I get time to trade, and not trying to
second guess it.

Melnibone.

The Dow's looking a bit bearish.
errr......perhaps not yet.

The Bullish Percent Index appears to have bottomed out.

Afternoon all:
Double witching day today so be careful. The expiry on the ftse was like a damp squid. Also remember that expiry on SNP happens on the open of the market.
I think we will most probably see a high in the first hour and then trail off. I hope to see decent volatilty so can scalp.The bias as far as I am concerned is a Downward market. I would not be surprised to see 1070 -1067 area on the SNP either today or Monday. If today closes lower than Monday is Lower again.
Thats my View and Yours may be different. Watch these EST Times (not GMT) for changes in trend. 9.50 -10am, 11.30 (hopefully will a Low) 12.25 and 1.30pm.

As usual let the market decide your actions not the other way round.
DYOR, NAG

rgds
zarif

http://uk.finance.yahoo.com/q?s=^NDX&d=c&k=c3&p=m20&t=6m&l=on&z=m&q=c

Since breaking the range, the NDX is now having trouble getting
back above the 20Ma. IMHO, it needs to break though this for the
bounce to continue.
At the moment it's stalling around this level which is also
circa the Wed/Thu highs.

Melnibone.

Do you ever use this chart Melnibone? It is quite useful. It shows the number of NASDAQ stocks above their 50 day ma.
http://stockcharts.com/def/servlet/SC.web?c=$NAA50,uu%5Bh,a%5Ddaclynay%5Bpc18!c19%5D%5BiLya14,28,56!Ll14%5D&pref=G

Thanks for that, Snoball.

I'll have a check into that and see how it ties in with the NDX
swing charts.

Melnibone.

Not exactly a rip snorting, action packed day today is it.

yes your truly right snowball. lets hope for better pickings soon

Afternoon all:
The Dow has been playing in a narrow range and yesterday was in the 35-40pts range not enough to swing a cat.
So what are we going to get today?
With greenbum speaking at 3pm est i think so be careful.
I think it will head south in the morning session and then track north with low anaemic Vols and this could be till labor day.
Remember they are master thieves and u dont want to line thier pockets with your hard earned dosh.
rgds
zarif