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

Isn't hindsight a wonderful thing - if I had said at this time last night that the DOW would go down today, then the people in white coats would have been here in a flash!!!

It's been going up all last week. It was due for some corrective action, Fundamentalist.
I'm still long the Jan future with a profitable stop in now.
I wouldn't be surprised to see some more downward pressure tomorrow but what do I know?

KEY SUPPORT AND RESISTANCE LEVELS

	SUPPORT < ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />	RESISTANCE
Nasdaq Composite	1900	1940
S&P 500	1050	1075
Dow Industrials	9920	10,120

 

 

Hi guys/gals:

I hope u r all trading safely and wisely. I get worried when the market cant lift up with good news as has been happening recently. I think the market is due for a serious consolidation and retracement and could drop like a stone.Be careful as it could give u good gains or massive losses. Dont forget the stop loss placement and lock in profits.

Remember the motto: You must be prepared to take a small loss otherwise it is just an invitation for a bigger unbearable loss.

rgds

zarif

KEY SUPPORT AND RESISTANCE LEVELS

	SUPPORT < ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />	RESISTANCE
Nasdaq Composite	1900	1940
S&P 500	1050	1075
Dow Industrials	9920	10,120

 

 

Hi guys/gals:

I hope u r all trading safely and wisely. I get worried when the market cant lift up with good news as has been happening recently. I think the market is due for a serious consolidation and retracement and could drop like a stone.Be careful as it could give u good gains or massive losses. Dont forget the stop loss placement and lock in profits.

Remember the motto: You must be prepared to take a small loss otherwise it is just an invitation for a bigger unbearable loss.

rgds

zarif

KEY EVENTS TO WATCH FOR:

7:45 AM ET. ICSC-UBS Chain Store Sales for wk. of Dec. 13 (last -
2.5%)

8:30 AM ET. November Consumer Price Index (seen unchanged; last
unchanged)

8:30 AM ET. November Consumer Price Index, ex-food and energy
(seen +0.1%; last +0.2%)

8:30 AM ET. November Housing Starts (seen -3.1%; last +2.9%)

8:30 AM ET. Third-Quarter Current Account (seen -$136.2 Bln; last -
$138.7 Bln)

8:55 AM ET. Redbook Retail Sales for wk. of Dec. 13 (last -1%)

9:15 AM ET. November Capacity Utilization (seen 75.3%; last 75%)

9:15 AM ET. November Industrial Production (seen +0.5%; last +0.2%)

4:30 PM ET. ABC/Money Magazine Consumer Confidence Index (last -
11)

Pivots and s/r for today

rgds
zarif

Dow not giving much away at present -range bound and am just watching at present.

Boy is the dow boring today!!!!! There is hardly any mobvement to make trades.Are they trading today or taken early holidays!!!!!!
I wish somebody would stick a rocket up the dows arse.

Which Dow are you looking at, zarif?
I'm up almost 100 points today.
Stop moved up and still long the Jan future.
This is the longest I have been in a trade on the Dow - since last Tuesday.
I seem to have found a useful stop method but more likely I got lucky.

Snoball -what i meant by boring was the fact that it played most of the afternoon range bound around 10058-10084. Only around lateevening did it make a trek north. I was watching the pivots and r1/r2. I managed a short while waiting to fulfill my long. So boring but profitable. I enjoy it more when there is good volatility.

Anyway how are u doing? We keep on missing each other at the moment on the thread and with xmas nearing -My handbrakes shopping has got serious brake failure.But it has got to be done.

ps: snoball i noticed that the dow chart has not been updating- have i done something wrong or that u have not been able to post updates.

rgds
zarif

What are your views for tomorrow?

zarif, sorry about the chart. I've been messing about with the website and moved it. I will put it back. I also haven't been updating it. I will do so if anybody is interested.

I decided to trade my system with the addition of a new stop indicator I found and also stick to the trade rules no matter what. It's turned out to be not only profitable but very educational in that I am learning what makes me want to cut trades short. Greed and Fear being the main culprits. It's funny how you read about how it should be done and think yea, yea, and then ignore it altogether (or at least I do). I was just getting fed up making stupid mistakes and the only think I hadn't tried was being disciplined. So I thought I would give it a go. So far, it works.

By the way, are you using Metastock yet?

Hi Everyone.

Haven't been around the last few days. More trouble at the shop when I discovered one of my ( I thought) trusted employees was ripping me off big style.

Zarif, that's why I didn't turn up on Friday. Sorry I missed you and so sorry I missed the seminar. I subscribe to Trendwatch publication and Robert Newgrosh (New-Skills) is the only training company they recommend. I also know someone who attends the courses and he also thinks they are brilliant.

Fundamentalist - the next seminar in Manchester is the 19th Feb. The one in January will be in London.

Anyway got well and truly blown out over the weekend with my short at 10009. They did have to go and arrest him just when I'm short (which I rarely am at the moment). I had a large stop loss on so it cost me a good few quid. Ah well, that's the way it goes I suppose. I'm tempted to go short now but they'll probably arrest Osama and wipe me out.

Hope to be back with you soon but I haven't bought the wife anything yet so I've got to miss a couple of nights while I sort her out.

Good luck.
Harlosh.

Harlosh,

thanks for the date update (unlikely I'll make the 19th Feb - work year end is end of Feb) - if its any comfort, I was short the Dow futures over the weekend and the stop loss kicked in costing me.

Sorry to hear of your loss Harlosh. At least you had a stop loss on. See you when you get back.

i was short too... Stop loss was set at 10070 - was not stopped out till 10194 see the benefit of the Gaurenteed SL now

Key kevels to Watch for today.

Trade safely and wisely.

rgds

zarif

KEY EVENTS TO WATCH FOR: 17th DEC 2003

7:00 AM ET. MBA Refinancing Index (last -15.5%)


The STOCK INDEXES & MARKETS

The March NASDAQ 100 was lower in overnight trading as follow-
through short covering from Tuesday's rally has failed to materialize. A
lower close today' would confirm Monday's key reversal down while
setting the stage for a possible test of last week's low crossing at 1376.
Stochastics and the RSI are bearish signaling that sideways to lower
prices is possible into the end of December. From a broader perspective,
March needs to close above the early-December high crossing at
1456.50 or below November's low crossing at 1366 to clear up near-term
direction in the index. The March NASDAQ 100 was down 5.00 pts. at
1399.50 as of 6:39 AM ET. Overnight action sets the stage for a steady
to lower opening by the NASDAQ composite index later this morning.

The March S&P 500 index was lower overnight and is working on a
possible inside day as it consolidates below monthly resistance marked
by the 38% retracement level of the 2000-02 decline crossing at
1075.58. It would appear as though Monday's spike of this resistance
level might have marked a short-term top in the index. Stochastics and
the RSI have turned bearish signaling that a short-term top might be in
or is near. The March S&P 500 Index was down 2.60 pts. at 1070.70 as
of 6:41 AM ET. Overnight action sets the stage for a steady to lower
opening when the day session begins later this morning.

rgds
zarif

Harlosh: Sorry to hear about your loss on the dow -but as snoball et al say is quite a discipline to have stop loss in place all the time otherwise it is just an invitation for incurring a bigger loss.
Also on the work front it is not the question of money when employees are ripping you off it is an abuse of trust which hurts.

rgds
zarif

chadbukl, ouch! They stopped you right at the top.
Did you query it with them? Maybe they will give you a better price.
I seem to remember from my Finspreads chart that it reached that level at about 4am.
You have a point about guaranteed stops though. I've often thought that it is a bit risky to leave trades on overnight/weekends with only a normal stop. I might investigate that further.

Dow still in -ve territory today and the dollar is getting a pasting from all fronts.Euro hit another high and gbp is very high as well since 1990!!!!
I managed 2 shorts on the dow and gained a bit of profit. Have got one long still in place.
lets see what the next 2 hours bring. Trin around 1.11 -1.13 at present.

rgds
zarif

imho i think it is due a correction soon and would not be at all surprised if we see 9600 by a few weeks at the latest.

Dont forget witching time Uk friday when options etc expire.