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

well done with the currency trades, zarif.
Do you hve a plan?

rgds zarif

Snoball, Do you think the 9800 can be seen today against Zarif's anaysis which is being supported by market movements of higher prices. I was expecting today to see us test/take out previous low of spx 1062.3 especially since closed lower after setting new high yesterday on spx and nas. The Dow is the only one showing sense at the moment and holding back from breaking Mondays high. Hopefully it will refrain from doing so today allowing a significant retrace to break lows previously set. I've foolishly resisted closing/reversing so many times to significant loss so really need this today.

Stv - just for u (the analysis below Courtesy of Playboy) to give a clearer picture.Also look at the signal watch link in the header.
keep posting and your advice good/bad is most welcome

rgds
zarif

STOCKCHARTS

12/2: No rally today is bearish near term, although there is no clear pattern to the decline at this degree of trend yet.
A possibility is that we are tracing out a triangle here, in which case we need another up/down and a sharp rally about the width of it to finish off the pattern.
A continued decline tomorrow that takes out 9800 says the (1)-(2) is playing out and confirmation that we are in wave (3) down comes with a move below 9650 from here.
It should be obvious because a 3rd wave decline will leave no doubt about it's direction.
So, with that in mind, a very good risk/reward short is available because the stop is very close by at 9903.
Successful speculation is all about taking small losses and reaping larger, but more infrequent gains. So, with a stop so close by and the potential decline of at least 1.6 x 300 or about 500pts, now is one of those opportune times.
A more conservative (longer term) approach is to wait for the technicals on the daily to confirm the wave pattern.
As before, any rally that takes out 9903 from here says something else is going on, and is (obviously) bullish at least for the near term..

This market action is really worrying with the Dow Futures only 12 away from previous high and spx 0.5. Dax is surging higher which is not helping at all. Only the UK at present is showing signs of restraint, the rest need to follow it Now

STV: This is what i posted yesterday -lets see what happens today. U r quite right everything is like "cart before the HOrse". The EUR is knocking the Crap out of the Dollar and the Feds are just watching the Fray.The Eur hit the top today and with the uptrend as it is can reach 1.24 -1.32 the way its going and holding the 1.21 area. The reason i give this is when the EUR is rising it gives serious pressure to the DOW hence pushing it down -and recently i have been taking both the dow and Eur antagonistically -works sometimes but beware it can be very volatile at times.

Hi Everyone

The range on the Dow l see for today is 9830-9920, estimate for Wednesday 9870-9940
Thursday 9900-9970. Friday is the day when we should be falling back but the day will be led by unemployment figures in the US

Anyway these are solely my guesstimates and please DYOR & NAG.

lets see what it throws at us.Could be avolatile session hence give us some opps both ways.

rgds
zarif

stv, my concern mirrors yours. I am short from yesterdays close. I still think however it will test 9800 again. Of course I could be wrong and more than likely will be wrong but I'm not betting amounts that will worry me if I am wrong.
Take it easy out there.

Well, I was wrong. I'll be stopped out in a minute I expect.

Closed my long from 9854 for 49pts

Nice going Harlosh. Trading WITH the trend is usually more profitable than trading against it. One of these days I will take that on board and reap the benefits.
Good trading.

SHORT DOW FROM 9912 -looking good at present will get out as things start to reverse if they do.

rgds
zarif

short dow 9912 got out at 9879 =33pts @15 =495. thats me set up for the day.
watching now amd see what happens.

zarif

short dow 9898.
Come on bears where is the honey pot -Any steaks from before left i wonder.
zarif

happy trading guys -watch out for the matadors as they dont have their play pals and we dont want to play with them-just humour them.

Todays DOW CHART




Guys watch the chart.and BEAR (thats what we should be today) in mind the pivots and supports to help trade and minimise risk

harlosh: good call. well done still remember your magical figure 9854.What xstal ball u gazing into???

Below is my vision lets see what happens.

The range on the Dow l see for today is 9830-9920, estimate for Wednesday 9870-9940
Thursday 9900-9970. Friday is the day when we should be falling back but the day will be led by unemployment figures in the US

Anyway these are solely my guesstimates and please DYOR & NAG.

lets see what it throws at us.Could be avolatile session hence give us some opps both ways.

Another short open 9918 -Now to start praying for it to go down as it si nar my guesstimates.

rgds
zarif

There is a Yorkshire Traders meet tomorrow at the Crowne Plaza,Wellington ST, LEEDS at 19:30hrs. I am going to it.Its run by Tim aka THE PRIEST.

further details from Tim Leleux tim@coachhouse.co.uk

rgds
zarif

Closed the shorts at 9899 : opened at 9898 (lost 1pt =5) and 9918 (gained 20pts =100) nett effect on this trade was 95 gain. Plus 495 from before =590 for todays trades.
Phew thought it never get there.I bet it falls like a bomb now.

Call it night just watching the screen now.

good day today.
zarif

Nothing bearish about this trend.

On the other hand......ooops....sorry about the size.