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

Orky sometimes when there is either a gap up or gap down then the market fills it,then decides what to do.
I have just vetured into a small long now lets see what happens.

orky - isent you mail by mam did you get it? if not just email me directly on:
zarif_virmani@hotmail.com
I will try to help u as much as i possibly can.

rgds
zarif

Wow must be my day the small longs already in positive territory -now to see how far the kite can fly!!!!!

phew - i knew it was too good to be true -got out of the long 8pts in credit.
just watching now.

Should give a gap down open again on the Eurozone Indices tomorrow, dammit!

I was going to open a short on the Eustox50 near its close when it crept back
above 2750 to cover this eventuality, but Mrs. Melnibone was hogging the
computer on Ebay! Grrrrrrr.

Melnibone.

http://uk.finance.yahoo.com/q?s=^STOXX50E&d=c&k=c3&a=m26-12-9&t=1y&l=on&z=m&q=c

I know it's a Eurozone Index, but it is the DOW JONES Eustoxx50 so this
thread title loosely covers it. :-)

I believe its due a drop into the 2600's and it tends to equate nicely
with the Macd where the signal line is just about to drop through the
zero line.

Any comments?

Melnibone.

melnibone just looked at the chart and your analysis is correct.
at the onset either gap up or down i reckon it will spend most of the time on lows and heading lower.
With ref to the dow -same as above either gap up or down asides it is going to be heading lower till midafternoon yankee time.
So lets see what happens tomorrow.
On friday will try to head higher.

mel if you email me on
zarif_virmani@hotmail.com
i will send you my working out.

rgds
zarif

Zarif, you have mail.

Melnibone.

Melnibone, would the fact that the macd peaks & troughs are at similar levels indicate that the STOXX50 is trading in a range?

That's not the way I would read a Macd, Snoball.

I look for the signals created by the divergance in relation
to the signal line and the Zero line.

Melnibone.

Thanks for the e-mails, Zarif.
Interesting.

Melnibone.

Zarif- tried to e-mail you, but says address does not exist !MM

MM: thats odd as i recieved melnibones email yesterday are you sure you entered it correctly as there is an under score in the email and not a hypen or dash -a common mistake to make. Anyway try again and will give you another address aswell.

zarif_virmani@hotmail.com

or

zarif.virmani@btopenworld.com

rgds
zarif

Below is Tom Hougaards Thoughts for the market for today
rgds
zarif

Good morning,



The Intel news caused a big gap down which was immediately bought. The low set around 1107 in the SP500 will act as the Make or Break for the time being. If the market trades below 1107 the market should head down for the count until the end of the month. Stocks are bleeding and the bounce was a pure day trader phenomenon. Later the market retested the area and held. The good news amid this bearishness is that we saw some buying in the final hour of the day.



I am basically of the opinion that as long as we are below 1116 the market is in a water fall decline pattern. I got no expectations for Thursday, but Friday looks higher to me.



Several stocks look interesting. One index that holds the key to the market is the SOX. It may be a perfect buying opportunity right here with a tight stop. If the bulls cant support the SOX here then we should much lower going into the end of the month.



It seems every morning I come in the SP500 is trading around 1112. Sooner rather than later we will break and I will go with the flow. 1108 or 1116!!! In between is day traders paradise.



Tom

MM: Just recieved an email -assuming it was from you (muralee menon) the subject header said WELL DONE but there was no other message.
Thanks
zarif

hi everyone -on a short at the moment and is going the right way -will follow it till about 3.30pm as i reckon then will see it turn possibly.

rgds
zarif

Just closed the short in profit by 30pts and have taken out a long lets eee what happens.

The longs in credit already but am going to see if can hold it till 5.15pm as i reckon it has more upside till then. If it fails than time for parachute and jump ship (or is it plane?)
rgds
zarif

closed the long 20pts in credit
Now am going to watch till 6pm when the traders come back from lunch and full of spirits - ithink they will be full of "shorts" but all will be revealed soon....

Braggert zarif.........good luck to you I'm just enviouse ;o\