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

By the way, we've got 3 important events today and tomorrow.

Today is initial jobless claims at 1330 Hrs.

Tomorrow is the important GDP data.

Tomorrow is also the last Friday of the month.
Experienced traders I've listened to have said to be
wary of shorting on the last Friday of the month as
Funds sometimes put the last of this month's retail
money into the market.

Melnibone.

Clocking off now to have lunch and watch
some adverts before the US opens. :-))

Melnibone.

afternoon all:
I shall not be around much today as am going to IG Index seminar at Manchester today late afternoon.

rgds
zarif


KEY EVENTS TO WATCH FOR:

8:30 AM ET. Initial Jobless Claims (expected -4K; last -24K)

8:30 AM ET. Durable Goods Orders (expected +1.4%; last +0.3%)

8:30 AM ET. USDA Weekly Grain Export Sales Report

10:00 AM ET. Conference Board Help Wanted Index

10:00 AM ET. New Home Sales (expected -0.9%; last -5.1%)

10:00 AM ET. DJ-BTM Business Barometer (last +0.3%)

4:30 AM ET. Money Supply

Doesn't look inspiring for the Bulls.
It's going to have trouble getting back much over 10600
without some good news.

I also notice that as the Dollar strengthens, the index
seems to go down. If you remember, as the Dollar weakened
over the last 6 months, the index went up.

Portent or coincidence?

Melnibone.

Anyone tell me where i can charts for currency rates (esp /$ and E/$) - know its not what the thread is for but sure you guys will know (esp Zarif if you are around)

http://futures.tradingcharts.com/menu.html

Is this any use?

Melnibone.

thanks Mel

Just noticed.
If you click the Futures/FX tab at the top of this page
Mam have all the popular FX Spot rates and charts.

There's more on this site than you realise.

Melnibone.

Mel, thanks again. Just tried to use this function and I only get half a screen and the blue bar that is normally at the bottom though the middle - do you get the same or full screen?

Sorry for late reply, I logged off when the US closed.

My screen is normal.

Are you sure your screen isn't opening up in 'restored down'
mode for some reason?

Melnibone.

Afternoon everybody:
Enjoyed the evening out last night at IG index seminar. The Buffett was laid out nicely aswell (not as good as Gds cafe grub!!!!!)

Fundamental: Re Currencies.
download: www.saxobank.com.
You will get Cfds,shares,futures etc aswell. Real time charting aswell and analysis aswell on equities and fx with the trends technical all explained.It even gives you ideas as to where to place the trades,stops,targets etc.Also a demo programme which you can learn from.i have found it very useful and the trades have been profitable aswell.

Also on the traders board there is a thread by Hilary Devoted to Fx.with a lot of links.

This is a good site for analysis and to get another view on fx.(The charts are brilliantly done and even include Ichimoku Charts (these are not totally known as the candles but are the other half of candles charting used by the japs and just getting into the western analysis)

http://www.mizuho-cb.co.uk/TresInternet/TECHNICALS/FX_-_Europe.htm

Hope these are of help and certainly Fx. will put another tool to trade.
Please keep posting on here as it does not matter whether it is the Dow,Dax,Fx,or even soyabeans. The main goal is to help each other and learn from each other and hopefullly not make the same mistakes again (says he!!!)

rgds
zarif

KEY EVENTS TO WATCH FOR:

8:30 AM ET. Preliminary GDP (expected +3.7%; last +4.0%)

9:45 AM ET. Final Univ. of Mich. Consumer Sentiment (expected 94;
last 93.1)

10:00 AM ET. Chicago Purchasing Manager's Index


The STOCK INDEXES & MARKETS

The March NASDAQ 100 was higher in overnight trading as it
continues to extend its short covering rebound off Tuesday's low. Closes
above the 20-day moving average crossing at 1487.05 would temper the
near-term bearish outlook in the index. Closes above the 40-day moving
average crossing at 1504.44 would confirm that this week's low marked
a double bottom with the early-February low. Closes below the previous
reaction low crossing at 1463 would renew March's decline off this
year's high while opening the door for a possible test of last fall's
uptrend line crossing near 1445. Stochastics and the RSI are bearish but
diverging, which is often a precursor to a bottom and potential trend
change. The March NASDAQ 100 was up 7.50 pts. at 1483 as of 6:43
AM ET. Overnight action sets the stage for a steady to firmer opening
by the NASDAQ composite index later this morning.

The March S&P 500 index was higher overnight as it extends this
week's short covering rebound and has broken out above 10-day moving
average crossing at 1145.90. Closes above last Friday's high crossing at
1151 would increase the odds that a short-term low has been posted.
However, stochastics and the RSI remain bearish signaling that sideways
to lower prices are possible. Multiple closes below the 40-day moving
average crossing at 1136.13 would confirm that a double top with
January's high has been posted while opening the door for a test of the
late-January low crossing at 1121 later this year. The March S&P 500
Index was up 4.30 pts. at 1147.50 as of 6:45 AM ET. Overnight action
sets the stage for a steady to firmer opening when the day session begins
later this morning.

Thanks Zarif,

any chance of a quick precis of what went on at the IG seminar (as I got stuck at work as today is our year end)

thanks in advance

I'm enjoying this S@P trading.

Decided to do the opposite to Ed Downs and short the pop
rather than buy the breakout.

Took a swift 3 points out of the S@P. That's roughly the
same as taking 30 points out of the Dow for all you
high-rollers. ;-)

Melnibone.

Just back for another look after a nice steak dinner.

I see it's dithering about whilst the US is at lunch.
Hopefully they'll drift back to work and start to do
something again any time soon.

Melnibone.

WOW! Dint see that coming. Did two longs, closed one and got caught with the drop in markets with my other long. Anyway, did a couple of longs once the market settled down. Closed one long, got another in profit and I hope the market get back to its highest peak before 9pm so I can close my original long which at present is down.
Hope the rest of you have done well today.
A good weekend to everyone.

Javid

Fundamentalist and everyone.
re: Ig Index seminar summary:

Peter Mcdermot: Head Of Options at Ig -gave a brief run down on the Options and highlighted the risks/rewards of them.

Deborah Owen: investment research of cambridge ( i think she is something to do with the Fleet street Publications and their Investment strategy and Alerts newsletters -which is 155 for uk/eur and 170 for rest of the world.)She gave a good talk on the markets and currrencies the election cycles etc. Also the emerging markets -such as China. their advantages and pitfalls.

David Jones - Technical analysis and trading strategies.
Very good talk by him and presentation.

Anyway back to trading the dow and fx. managed a long and short today so far on the beast -Just watching atm.

rgds
zarif

Hope it comes good for you, Javid.

I know everyone is talking about a down channel at the
moment, but what I'm seeing is that on Tuesday the Dow
closed the gap open from the 05 Feb, and is now trying to
turn and rise. At the moment I think it's range trading
rather then channeling.

Melnibone.

Melnibone: I think you are right and on the pnf chart it is shuffling along as a congestion but from what i see i feel it is hoing to break upwards.
Javaid - I hope it does that for u so u can kick it in the bol***ks!!!

rgds
zarif