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

Any views today. Been looking for a retracement but is looks very bullish. perhaps Nigerian oil strike may inpact it?

Harlosh - nice to hear from you. I think your figure has merit.
Orky, JJ50 et al.
This market at the moment i would say at the least is "scary" in the most polite terms.
If you step back and look at the picture all you can see is that this market has risen so fast in a spate of few weeks to such levels in a relentless uptrend with hardly any retracements - the whole world and his wife is trying to catch the top and see when it retraces -but with such momentum and only sentiment driven its not taking prisoners.
For example if you take SNP( approx 1snp point = 10 dow points)a fortnightor so ago at 1118 and friday at 1185 that is 67 sp500 points equating 670 dow points. So a lot of shorts are being hit and taken out of the game.Also with the minutest retraces the dipsters are coming out in force and buying.You must watch when the dipsters stop appearing and then it will topple as the indicators are all at extremes.- but the technicals dont have to reset.
My advise in this market is "scalp" and keep banking -keep stakes small as it can wipe you out of the game in one swoop.
Note that the trend is up - for it to reverse it has to go through the motions as : sideways UP, Sideways,Sideways DOWN,then DOWN. So there will be enough time to board the bus.
Watch the Dates on 22nd Nov and 29th NOV ( Harlosh -thats my prediction for you)!!!!

If in doubt stay out.
trade wisely and safely

rgds
zarif

Orky, it looks like your retracement is here.

Agree snoball. Although Tom H commented earlier in the year, that historically, investing on Thanksgiving Day and selling early in the New Year, has 72% of the time resulted in profit...

The retracement seems to have bottomed out on the 22nd.
Is that what zarif was hinting at?
What's going to happen on 29th, a breakout at 10600?

Morning all:
So how are we all. I had other projects in mind and must apologise for not posting much.
So where are we now - This grinding Up market is taking no prisoners. The dips are being bought.Also the seasonal stuff.
Watch the market and play what you see.

rgds
zarif

It's about time this thread was revived.
I'm short the June Dow at 10351.
How are we all then?

key points for me are 10,300 & 10,400, waiting for one or other to crack, but long intc from 23.00 so can't complain

flirting with 10400 - dunno if anyone watched it at this level yesterday but it got absolutely battered.

Stopped out on the short future and a long on the daily.
10400 resistance held today i see Velocity.

Wall Street didn't like what it saw on Capitol Hill Friday over the health care vote.

The Dow tumbled over 100 points Friday afternoon after it became clear that the healthcare bill to replace Obamacare would be defeated in a vote. However, markets recovered quickly soon after news that the bill had been pulled from a vote at President Trump's request.
The S&P 500, Dow and Nasdaq all went into the red after 1 p.m. ET Friday when it became apparent that Republicans did not have enough "yes" votes. After news that Trump had pulled the bill, the markets rebounded from the lows. The Dow ended 60 points lower, while S&P was off slightly. Nasdaq ended up 0.2%.

though DOW closed -60, it is worth noting that the critical 20,610 level held