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

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.

Snowball stopped out at 12.06am 2 points from the top - i queried it asked why it took so long and they said it was because they had 206 stops to close strange as I thought IG was automated not manual

chadbuki, Fins are manual also. They went manual after complaints that the automatic method was too indiscriminate. Doing it manually they can try and get your stop if the price moves in the right direction. I presume IG do something similar. Always worth asking though.

zarif, does uk witching affect the Dow?
I think witching is more likely to affect you day traders anyway. Us long term traders don't worry about such nonsense. :-)

snoball
I dont know but with the ftse being in tow with dow there should be some effect.The Ym witching was a few weeks back if memory serves right. Will find out and post it here asap. But meanwhile best to be careful and avoid the stops being hit by spikes.

rgds
zarif

Believe it is witching in US - futures cahnged lead contract but expiry is this week

Wow! they're going to push it up through 10140!
maybe.

There it goes.

Key levels to watch today.

happy trading and trade wisely.

rgds

zarif

KEY EVENTS TO WATCH FOR:

8:30 AM ET. Jobless claims for wk. of Dec. 13 (seen -8K; last +13K)

8:30 AM ET. USDA weekly export sales report for grains

10:00 AM ET. DJ-BTM Business Barometer for wk. of Dec. 6 (last -
0.4%)

10:00 AM ET. November Chicago Fed National Activity Index (last
+0.01%)

10:00 AM ET. November Leading Economic Indicators (seen +0.3%;
last +0.4%)

12:00 AM ET. December Philadelphia Fed Business Index (seen 25.0;
last 25.9)

4:30 AM ET. Money Supply

very small short S&P - seems to be stuck!

Lw: nice to have u back.I think we should all start putting leadweights on the Ym as its going silly at present. i have this gut feeling that its due for a serious correction soon and would not surprise me if we are in 9600 area again.The dollar is getting a pasting from all fronts the BOJ/MOF are funding them deficit i think yesterday 63trillion dollars ( all those noughts would make anyone faint) and yet the Ym keeps rising!!!!

rgds
zarif

off to gds for a cuppa.

ps: did you see the down spike earlier around 3pm -i managed a quick short in it on the dow.

Zarif, I was out at 3pm so missed a fair bit by the look of it! Things seem to be moving sideways at the moment. I only put some pocket money on my account to play with - so restricted in what I can do!

Still creeping up.

Still long the Jan future.
You're right zarif, there has to be a correction but I'm hanging on for the ride.

whats makes you think there will be a correction?

One year dow chart. Today is the day of the witches -quadruple withching i believe -beware of the broomsticks. Do you reckon it is going to correct itself today as cant keep going up indefinitely? I think the witching hour of the Ym is the kast hour of trading. rgds zarif