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

Yes I am Zarif. Just got to ring them to confirm, so will see you there.

Gone short at 9947 Dec Dow

welldone harlosh:
I am short dow aswell at 9926 jan. and spx aswell and long on eur/usd.
Will see u on friday.

Now let us both start biting our nails to see it go down.

rgds
zarif

It held up rather well at the finish Zarif.

ttt

http://www.chartsedge.com/g120603.gif

Nice chart Zarif.
May I ask where it's from?

Harlosh.

When you get charts or images posted as above,
right click on the image and select Properties
from the pop-up menu.

It will give you the URL.

Melnibone.

Hi harlosh and melnibone.
Trust trading safely.
Reckon the dow going to hit 10k today and then take a hike down??
I am inclined to believe that being so near its too good a lolly to miss -but again you never know anything for certain in this game and especially the Ym-it defies logic at most of times.
any views for today?

rgds
zarif

Hi zarif,

I'm cautious at these resistance levels.
As I've said before, if it breaks resistance all is not
lost as it will come back and test it as support at least
once to allow you an entry point.

If you go long at the resistance and it holds, then the only way
is down for a loss.

Therefore the greater risk, for initial poor reward, is to
go long at resistance.

DOW will probably test 10,000, but the Futures are already only
15 points away so where's the profit for taking the risk of
getting caught long and wrong?

Melnibone.

Afternoon everybody:
The Ym Auction starts in about 25mins. Watch the action -dont dive in as the advice given by melnibone is very valid as things can go pearshape and u would be stuck in a limbo trade.
If u go in with a gunslinging attitude u may get away with it a couple of times and then the market will eat u up alive.

rgds
zarif

Key ranges and data for today 9th dec 2003

Dow hit the 10k -now where to from here is the 22dollar question? profit taking,consolidation etc etc

rgds
zarif

My guess is that it will whipsaw until we get
the guidance from the FED.

Interest rates won't move, but the comments and
guidance may change which will initially cause
some spikes in both directions before it settles
and takes direction.

Which ever way it finally goes will determine
where the FTSE opens up tomorrow.

That's all a bit like stating the obvious, but I
think that we sometimes try to look too deeply into
things and end up double-bluffing ourselves.

Melnibone.

wellsaid melnibone. Let the market dictate our actions rather than us try to emulate as to what it will do.
rgds
zarif

You can't do it on this site, but use your
trading package or a different charting site
to change the period to weekly rather than daily.

You'll find that for the past 14 weeks there has
been a distinct trading pattern.

1 week down followed by 3 weeks up.

This is currently the third week up in the cycle.
If the cycle continues, this week should end up higher
and decline next week.

If the cycle breaks we could enter a new trend.
We should find out after the FED decision.

Melnibone.

Thanks melnibone -will start looking at charting sites and get it posted asap.
rgds
zarif

By the way, that last post referred to the S@P,
not the DOW.

I think that the S@P is more indicative of the
future direction of the FTSE, which I trade, than
the DOW.

Melnibone.

Dont worry melnibone will do both of them and see what patterns we can collate.As they say a picture is worth a thousand words.
zarif