The NASDAQ Composite index posted huge key reversal down on
Friday and closed below the 20-day moving average crossing
at 1935.14. The low-range close sets the stage for a steady
to lower opening on Monday. Multiple closes below Tuesday's
low at 1923.50 would greatly increase the odds that a short-
term top has been posted. Stochastics and the RSI are
overbought and have turned bearish signaling that a top has
likely been posted. Closes above last week's high at 1992.27
are needed to renew the NASDAQ Composite index's rally off
October's low and would open the door for a test of weekly
resistance crossing at 2098.88 later this year. The NASDAQ
Composite Index closed down 37.09 points at 1930.26.
The December S&P 500 index posted a key reversal down on
Friday and closed below the 10-day moving average crossing
at 1052.40. The low-range close sets the stage for a steady
to lower opening on Monday. Closes below Tuesday's low at
1041.80 would increase the odds that a short-term top has
been posted. Stochastics and the RSI are diverging and have
turned bearish signaling that a top has likely been posted.
It would take closes above last Friday's high at 1064.40 to
renew this year's rally. The December S&P 500 Index closed
down 9.30 points at 1048.80.
The Dow posted a key reversal down on Friday ending a two-
day rally as weakness in technology stocks and a broadening
probe of the mutual-fund industry weighed on the market. The
low-range close sets the stage for a steady to lower opening
on Monday. Closes below the 40-day moving average crossing
at 9663 would confirm that a top has been posted. Momentum
indicators are diverging and have turned bearish signaling
that a top has likely been posted. Closes above last week's
high crossing at 9903 are needed to renew this year's rally.
The Dow closed down 69 points at 9768.
closed a short out before as is stagnant around -98/100 and am looking at the screen now.
Do u reckon it will shoot up at the end - i have this sickly feeling that it might.
to b honest zarif dont know..feel it may fall a bit more like 2 c -160 then c what happens in last hr.the last couple of weeks the dow seems to sell off friday into mon then reversal of 50/60 points by wed/thurs
closed a long out near the end for 27 pts x 5 = 135.00.
I think i should have waited to get more points -but with this monster best to take the cash.
reckon it will drop overnight????
Zarif
I am looking for R1 to be retested (9774)think the Trin was well over cooked yesterday peaking over 3 and closing circa 1.8, think it will be very whippy on the way and dependant on 1.30 data. I'm still long from yesterday (9669 & 9647)
both bought on the way down did not expect a test of S2 however courage paid off. Have wide stops in place which still lock in my daily profit objective.
thanks for the link
I think the Dow will close tonight somewhere close to the its support of 9625. Maybe opening around 9720/30. So I'll probably be looking to short. But I shall follow the trend.
Diego: sound advice. I have got three shorts from yesterday after market close opening at 9694 9672 9634 all at 2/pt. I think same as u that it is going to go down hill. Looking at the daily candle chart yesterday had three blacks( i small, 2 big ) so i wonder if u can call it a crow pattern which is bearish.
Diego: sound advice. I have got three shorts from yesterday after market close opening at 9694 9672 9634 all at 2/pt. I think same as u that it is going to go down hill. Looking at the daily candle chart yesterday had three blacks( i small, 2 big ) so i wonder if u can call it a crow pattern which is bearish.
About half an hour for the Yankee auction to begin.
Watch the auctioneer carefully as they might be taking the bids from the aisle and the chandelier!!!!!
Also in my opinion i hope it goes a lot more DOWn than Monica lewinsky ever did!!!!!
zarif