Where is the Dow & others heading in 2005?

twiggytwo · Dec 12, 2005

dow movements today

JillyB said:
Hi Everyone,

Did anyone using CMC to trade the Dow have a huge (60 point) spike down at 15.33 and then back up again, then down again and up again - all finishing at 15.38? It hit 10739/43, then up and down a bit before finally settling back at 10781/85.

What the heck was going on?

Hi Jilly, the reason was a test of intraday Futures PIVOT POINTS for today
The futures DOW Dec Contract pivots are for today

PIVOT POINT = 10,776.66

the Resistance pivots are 1=10,818.33 ----2 = 10,855.66 ---- 3 = 10,897.33

with the first Support Pivot at 1 = 10,739.33 best regards

leovirgo · Dec 12, 2005

twiggytwo said:
Hi Jilly, the reason was a test of intraday Futures PIVOT POINTS for today
The futures DOW Dec Contract pivots are for today

PIVOT POINT = 10,776.66

the Resistance pivots are 1=10,818.33 ----2 = 10,855.66 ---- 3 = 10,897.33

with the first Support Pivot at 1 = 10,739.33 best regards

It was within resistance R1 10812 and support S1 10737 based on yesterday's HLC. I short it when it fell below 10780 and now out of position. :cheesy:

tradesmart · Dec 12, 2005

Colourful....

Some interesting reflections on pivot points above….

I’m finding the pivot levels automatically generated in SierraCharts quite handy…

The message for me today was ‘go short on the green and cover/go long, on the purple’ with RSI/CCI divergences for R/S confirmations….

I can just about handle trading by colours…….

PS – Double bottom setup now? – the market often rises in anticipation of the FED (19.15gmt tomorrow) Assuming today’s high at 810ish as an ‘apex’, 10885 may be the (highly speculative..!) target imho….

coolTrader · Dec 12, 2005

tradesmart said:
Some interesting reflections on pivot points above….

PS – Double bottom setup now? – the market often rises in anticipation of the FED (19.15gmt tomorrow) Assuming today’s high at 810ish as an ‘apex’, 10885 may be the (highly speculative..!) target imho….

Wish I had read this b4 I closed my long :cheesy: Entered at 40. Might get a pull back. I don't like using the pivots on Monday's because the data is not entirely accurate in my opinion.

dc2000 · Dec 12, 2005

Interesting chart and analysis Tradesmart

I have just one thought for tomorrow

Things that look the same may not be the same

twiggytwo · Dec 13, 2005

DOW Pivots

leovirgo said:
It was within resistance R1 10812 and support S1 10737 based on yesterday's HLC. I short it when it fell below 10780 and now out of position. :cheesy:

Hi LEOVIRGO, the FUTURES & Spread Betting Companys use the Futures price for the buy and sell offers,
The Pivots need to be calculated from the Futures price H -L- C
are you looking at the Cash H - L - C ?

Hope this is of some help to you ?
Best Regards

Gap Man · Dec 13, 2005

Whilst I'm already positioned long and planning to hold till the new year I have only committed 50% of stake from 750 cash equiv. I am still wary of 670 - 700 being hit and am thinking the Fed announcement later could give us this in a wip-saw action....

Have orders placed down there to open remainder of stake...

dc2000 · Dec 13, 2005

when your smilin
when your smilin
The whole world smiles with you

Pat494 · Dec 13, 2005

dc2000 said:
when your smilin
when your smilin
The whole world smiles with you

I expect they may move your sing-a-long like Rudeboy's.
He has an excuse of living next to the Vodka factory LOL
The Xmas spirit perhaps ???

dc2000 · Dec 13, 2005

just a festive way of expressing Gap and myself are looking for the same but he has the jump on me as i am waiting to join but no great rush

mark twain uk · Dec 13, 2005

dc,

you must have a target, giz a PM

leovirgo · Dec 13, 2005

twiggytwo said:
Hi LEOVIRGO, the FUTURES & Spread Betting Companys use the Futures price for the buy and sell offers,
The Pivots need to be calculated from the Futures price H -L- C
are you looking at the Cash H - L - C ?

Hope this is of some help to you ?
Best Regards

Hi TT, I use 1min chart prices from advfn.com and I am just doing fine. Anyway thanks for your conern. cheers

mark twain uk · Dec 13, 2005

dc,

cheers

Racer · Dec 13, 2005

If anyone wants to chat about the Dow or other US indices... pop into the trade2win chat room

houdani · Dec 13, 2005

evening all, just as expected a very flat day up to now,market awaiting the fomc decision.anybody care to make an educated guess as to which way the market will go after the announcement which is around 19.15 ... im hoping to see 10850 this evening.

Racer · Dec 13, 2005

what ever it does today it will probably do the opposite tomorrow!

Quercus · Dec 13, 2005

Racer, shouldn't that be something along the lines of - judging from previous statistics and taking the balance of probabilities into account, it would not be unsurprising to see a move in the opposite direction from the one that occured on the day of the announcement!

Of course we should also remember that past performance should never be used as an indication of future returns!

Q

mark twain uk · Dec 13, 2005

I have the dubious privilege of being the first one to post any trades, short from 1270.5 and 10856, may the lord protect me from 11000 tomorrow

mark twain uk · Dec 13, 2005

FOMC memo seen signalling data-driven FOMC policy By Leslie Wines
NEW YORK (MarketWatch) - The language in the statement accompanying the latest quarter-point rate hike by the Federal Open Market Committee signals that "the Fed is going to react to the data to guide its policy in the future," Steve Goldman, chief market strategist at Weeden & Co, said Tuesday. "And no one knows what the data will bring." As had been widely expected, the FOMC Tuesday lifted the Fed funds target rate by a quarter point to 4.25%. There were major changes to the FOMC's explanatory statement, as the committee removed language that judged interest rates to be "accommodative," or in other words, adding to growth. But the committee signaled further rate hikes in months to come to keep inflationary pressures at bay. Goldman said stocks and bonds initially reacted well to the statement and that the removal of the word "accomodative" had been widely expected.

User · Dec 13, 2005

what ever it does today it will probably do the opposite tomorrow!

I actually looked at the figures of that stat and I can't remember what the figure actually was but I do remember that the chances for reversal the day after the announcement are extremely high......I normally trade the opposite direction for the next day.....so if todays up then I have no problems with shorting for tomorrow......

Where is the Dow & others heading in 2005?

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