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

morning.

afternoon.any thoughts today on the dow?

A downward retracement ( in the direction of the main trend )is taking place, orky.
I think.

LOL! Oh, no it isn't!

Hello everybody:
Snoball Thanks for keeping the charts updated.
Not much happening on the boards or the market in general. Stuck in a rnage and better to watch until takes direction hopefully downwards.
Shorting the mini rallies and scalping atm.
I think Tomorrow Might give us the answers -but remember seasonal weakness in stocks in Sept. I think will hit a bottom good style most probably after labour Day and Downward bias till second week in SEPT. Then track Upwards.
Thats my view yours will be totally different and thats what gives us perspective.

rgds
zarif

ps: very quiet on all the threads.

ttt

Hi snoball:
Thanks for the update on charts.
Wonder whats in store for us today?
trade safely and wisely.

ps: the dow chart looks really squashed, the others are allright.

What are your views today?

rgds
zarif

zarif, I thought I would show a wider view.
It's ok in my browser.
Fridays action looked rather bullish to me.
The Bullish percent is as well.
Next week should be interesting.

Afternoon all.
So what does the Ym have in store for us today?
My view is that today and tomorrow is going to make hugher highs and then trail off downwards till say 29th sept.
Also triple withching coming soon aswell so be careful.
Heard on the news that Hurricane Ivan may somehow bypass Florida Quays so those guys in Oil be careful as Gulf Of mexico oil rigs will be safe.
Idexes are climbing a wall of worry - so trade wisely and safely.

rgds
zarif

Zarif

Can you explain triple withching

orky

Orky Just For you

Copied from Late David crocs site (www.snappytrader.com) -have a look atit as has a lot of educational stuff on there.

Double and triple withching:

What is so surprising is that many people were not even aware that this particular volatility regularly occurs on Double and Triple witching days - the actual trading period within each Witching Day is known as the Witching hour but many wonder if it is not some dark and satanic ancient ritual. It actually refers to the period when equity index futures, equity index options and equity options are settled/expire. These are at prearranged times and dates throughout the year.



Triple witching days occur in the US only and refer to the market machinations brought on by the simultaneous expiration of all three derivatives at the same time. This happens four times a year, on the third Fridays of March, June, September, and December. To be precise, the phrase is Triple Witching Hour, and refers to the last hour of trading on these Fridays.

NEW YORK (AFX) -- Smith Barney initiated year-end targets for the S&P 500 at 1,225 and for the Dow industrials at 11,700, which represent gains of 20 percent above its year-end 2004 targets of 1,025 for the S&P 500 and 9,750 for the Dow. The S&P 500 was last up a point at 1,125 and the Dow was 2 points better at 10,315, vs. their respective 2003 closing levels of 1111 and 10,453. Equity strategist Tobias Levkovich said he remains 'tactically cautious' for the rest of 2004 as he believes earnings concerns might keep a widely expected fourth-quarter rally from occurring. He is more constructive on 2005 due to favorable price-to-earnings valuation expectations.

This story was supplied by CBSMarketWatch. For further information see www.cbsmarketwatch.com.

ttt

Dont know about others but I'm short the YM

Really jeffers? why?

snoball
Cos its going down. Closed for +21

I can't think of a better reason.
On further reflection going short when the price drops and presumably long when the price is rising seems like an extremely good trading philosophy.

Where are all you Dow traders?
Making so much money you've taken out subs for the Trader's room, haven't you?

I agree where is everbody. Anyway what is the trader's room like? Any views on today

orky, they are much more clever than us in the Traders Room.
They talk about things like Level2 and they buy and sell on the same day!
As for the Dow I think it may go down but then it could go up as well, so watch it carefully.