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DR DOOM: House prices are set to crash, according to Tony Dye, the London fund manager who earned the nickname "Dr Doom" after he predicted a collapse in global stock markets in the 1990s. Dye was quoted in Tuesday's edition of the Financial Times as saying he expects a 30 percent drop in London house EMI denied it had ever misreported its sales and contested media reports which said hip-hop record label Avatar had made the allegation against EMI in a U.S. law suit. Canary Wharf, Canadian Brascan said it had extended its offer by 11 days to April 19. BAA reported a 4.4 percent rise in passenger traffic for the year ended March 31, with a record 133.4 million passengers travelling through its airports. March passenger traffic rose 10.4 percent.

Calendar: United Kingdom	United States (GMT)	Europe & World (GMT)
BAA (March traffic figures), Informa (EGM) 08:30 Feb house prices 10:00 BRC March Retail Sales Monitor	Merrill Lynch (Q1), Intel (Q1), Public Service Enterprise (Q1), Amsouth Bancorp (Q1), C R Bard (Q1), Dow Jones (Q1), Johnson & Johnson (Q1), Linear Technology (Q3), Marshall & Ilsley (Q1), McDonald's (Q1), BB&T Corporation(Q1), State Street (Q1), Pepsi (Q1), 13:30 Business Inventories Feb 0.3%, 13:30 Retail Sales Mar 0.7% 19:00 Treasury Budget Mar $72.5B

Data Download	Calendar	US Zone	HTML Edit		Currency Calc			Broker Upgrades	Director Dealings
David@SnappyTrader.com    www .SnappyTrader.com		Pre Market Futures	FTSE +10	DAX +30	DOW -1	S&P +0.5	NAS -0.5	Tips & Recommendations

Updated 4/12 for Tuesday's market.
Key DOW Levels for 4/13
UP Above 10,535
DN Below 10,490

Consolidating
Dow rallies at Open, holds gains throughout session.

From prior commentary, "...The index ended the day near the session lows, but is currently holding up at 10,400. A break below this level will likely spark another push lower Monday, while an upside move through 10,480 will key in strength..."
The Dow opened the session in strong fashion this morning, breaking above 10,480 early, which set the tone for the day, as seen in the 15 Minute Chart. The index held on to gains throughout the day, as the Dow formed a tight consolidation at the highs of the session, retaining 74 points of gains.

The fact that the Dow was able to hold on to the day's gains and has now formed a bullish consolidation hints at strength for tomorrow's market. An upside break from the consolidation at 10,535 will make for a test of resistance at 10,570 tomorrow.

However, a downside break from the range could also provide a decent move. Therefore, we will watch 10,490 down, as a break here will cause a push toward recent lows.

The overall medium term outlook looks positive, as the Daily Chart shows that the Dow may be in the process of forming a higher low above 10,400. Such a pattern implies a continuation higher. An upside break through 10,600 will confirm such a move.

Short Term Dow

Short term, we will watch the tight consolidation that has formed at the highs of the 5 Minute Chart from 10,495 to 10,525. Watch for a break from this range for direction at the Open.

Medium Term Dow

In the medium term, we entered the market Long this morning at 10,494 and are still in the trade. We will continue to hold stops at the entry and will want to stay Long above 10,535 tomorrow. We will look to enter Shorts below 10,490, with 20 point stops.

NASDAQ & S&P

The NASDAQ and S&P each rallied alongside the Dow today, forming consolidations at the session highs. The consolidations imply further strength, watch for a break tomorrow. *

Summary

The Dow rallied sharply at the Open today, and was able to hold the strength throughout the session, which is positive heading into tomorrow's market. Watch for a break from the consolidation for action tomorrow.

Morning all
D.

Morning.
Thought I'd start this week a bit different and get up for the market opening! Have a good week everyone.

Morning all

Well done amber - you can go back to bed in an hour!

Cheers LW,

I may well need to, having done two transactions already. This would normally be a weeks work for me, must have been the inspiration at Bristol.

Good for you amber.

Look at the FTSE go - Must have been a really good Easter for many, to put them in such a Bullish mood!

Croc, sorry to be off subject, but you recently posted a free anti-virus website. I thought I had bookmarked it but it seems I didn't. Could you post it again, please?

good morning snoball! I hope you don't regard this as interfering but the Anti Vir address is on Croc's www.snappytrader.com/software/software.htm website or can be accessed via www.free-av.com. I think that's the one you are asking about but if not, I'm sorry for butting in!

Watching BP...been rising well and I'm now playing 'chicken'
as to when I'll call it a day. Annoying thing is it may well
continue to rise for some time to come, due to the buy backs
and the less favourable view of rival Shell...But I could do
with releasing the funds and pocketing the bit of profit.
Good luck all today, it has looked quite positive from the start!!

Thanks vasey. That's the one.

Does anyone know whats going on with BT?

The companies fundamentals don't justify the fall, I don't think the news does either (unless someone knows something I don't) - can anyone let me know what they think the charts are saying?

LW
I am only a novice in the charting area so my findings can only be taken as my opinions. Looking at BT I notice a bearish MACD crossover in the third week of March which generally indicates a change of trend, the RSI falling away,
and the ADX line in the DMI ADX indicator falling through 20 towards 10, an area which can be said to be a 'nothing much happening area'
All in all nothing really suggests a strong sell but I also think there is not a lot to suggest a buy at the moment. I am sure you will have wisely put a stop loss in place in case the bears gain strength.
I do hope this helps and I would be interested to hear the views of any advanced chartists on my musings.
opto

little woman

You said that you were amazed that Mayflower executives created a 17m black hole

I'm not & I sold my Mayflower shares when I found out that John Major was involved so I had a lucky escape.

They could put anything past that twit.
He was only there to put up a front because people think that he is honest.

If I had done more research then I would have found out about him.
I only bought because of the wind turbine installation business.

I waiting to see who the administrator sells the installation business to.
I would like to see it as a seperate company.

http://www.moneyam.com/InvestorsRoom/ShowPostList?fID=1&tID=2905

apple - the reason I was amazed is because they were audited. It is part of an audit to check invoices & debtors are real, and not duplicate or fake.

Its one thing for directors not to have a clue with whats going on, but for auditors (PricewaterhouseCoopers) not to either !!!!!!! Especially for several years.

little woman

auditors are just as gullable as anyone else & easily distracted from facts by waffle & business lunches with alchohol.

apple I know, its just they get paid an awful lot of money to fulfill a legal requirement to "protect shareholders". Perhaps if they returned their fees it would help to plug the "hole"

Hmmmmm, now let me see.......
Nope, I don't think that they are going to give it back.

Parasites!

But of course, I too would like be in a position where screwing up still makes loadsa money.