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

http://uk.finance.yahoo.com/q?s=^GSPC&d=c&k=c3&p=e10,e20,e50,e100&t=5d&l=on&z=l&q=l

If you start at the open on Wednesday, you can lay a ruler
along that 3 Day (Wed/Thu/Fri) trendline.

Melnibone.

http://uk.finance.yahoo.com/q?s=^GSPC&d=c&k=c3&p=e10,e20,e50,e100&t=1d&l=on&z=l&q=l

And so far, today, even after all those shenanigans, it's
still just chugging along following that same 3 Day trend.

Melnibone.

melnibone a quick look ant your pnf chart after a bit of congestion the main trend is maintained as a #"shuffle" pattern.Reckon on the way up.
rgds
zarif

Thanks for the reply Zarif.

The price action reminds us to be wary of trying
to buck a main trend and call a turn.

I bet there were a few Bears caught out today when
everything opened down and the Dow fell below support,
only to come back up like a rocket.

Melnibone.

S&P and Dow charts updated.

Hi everyone -early in today.
Snoball thanks on the updates on the charts.
Croc-nice of u to drop in and post a nice chart-please keep it up.

What are your views on the dow today? Mine are that not much happening results wise so should have plain sailing and make a move today (hopefully upwards!!).I think that it will shoot up at the open and than sail south possibly 2 days to retest the 10520 level than rally up this week past 10700 -to break the 11050 level.thats my gut feeling and of course means nothing except let the market decide your actions.

rgds
zarif

Hope your right about that Zarif. Would be nice to see early upward movement so I can look to close a long then down she goes to close my short. However, if we dont see and downward movement today or tomorrow, I think we will at some point this week.

javid

Don't know when we are going to break out, or which direction.

Market was fairly strong considering the disappointing
job numbers. This will spook a few Bears so I would expect
some initial short covering if the market starts to move
up again.

I'm looking at the S@P as usual and am keeping it simple.
Looking for a range of 1149 to 1162 and don't intend
to buy or sell any initial breakout of these levels.

Good luck.

Melnibone.

.http://uk.finance.yahoo.com/q?s=^GSPC&d=c&k=c3&a=fs&p=e10,e20,e50,e100&t=1d&l=on&z=l&q=l

Little intraday inverse head and shoulders just formed and
the EMA rope is very tight.

We might actually move somewhere and test the highs with
a smidgen of luck.

ZZZzzzzz

Melnibone

Watch it bounce off 1150, Melnibone.

Javid, you have mail. Sorry I didn't reply earlier, I've been out all day.

good short on the dow today managed 100pts.
Have taken out a long now-lets wait and see what happens.

rgds
zarif

Looks like there's going to be a nice gap down
open on the Eurozone indices tomorrow.

US didn't even try to have a rise into the finish.
Looks like the big boys who got caught long pre-open
on Friday, expecting good job figures, have squared
their positions and there's no buying pressure left
to manipulate the market higher to allow them an exit.

Bears might finally get some momentum behind them and
give the market the retracement it's crying out for.
DOW is very close to the psychological 10,500, it should
at least test it to take away some fear from the Bulls,
they must be wondering where the support line is.

Melnibone.

afternoon everybody:
these are my thoughts for today.....

Well we got the drop we wanted and l expect it to stay down there testing 10,500 level for a bottom today as well. We should have a sideways motion today. It should consolidate really before breaking to the upside but if we test a slightly lower level say 10,480 then we could easily go to 10,400.
I will not be in much today as l am going a seminar in Manchester by Tom Hougaard of city index. Well let u know how it went.

rgds
zarif

DOW is having trouble getting away from the psychological
10,500.

No idea which way to call this, really. If 10,500 doesn't hold
as a support for Bull buying, then we're looking initially at 10,450 IMHO.

Melnibone.

Nobody told me the charts were b******d.
Fixing them now.
Sorted. I did them in a hurry last night. Didn't bother to check them.

Off to manchester now. will keep u updated as to what went on when i get back.
Snoball : snp chart is fine but the dow one isnt.

Left the Dow Long running and the cable long running with wide stops.


rgds
zarif

Thanks zarif. Can't think what's happening with the chart updates today.

Well, that's my 10450 hit and the S@P is now struggling
to hold 1140.

If the Bulls don't come out to play soon, this trend is going
to resemble a staircase.


http://uk.finance.yahoo.com/q?s=^GSPC&d=c&k=c3&a=fs,ss,w14&p=e10,e20,e50,e100&t=1d&l=on&z=l&q=l

Melnibone.

http://uk.finance.yahoo.com/q?s=^GSPC&d=c&k=c3&a=fs,ss,w14&p=e10,e20,e50,e100&t=1d&l=on&z=l&q=l

DOW 10,450 has held again and the S@P has finally made
a higher intraday low.
The NAZ really needs to retest 1450 again to see if it will
hold as resistance.

Careful with your shorts here, this may turn towards the close
as Bears take profits and institutions tail off the selling.

Melnibone.