Dow 2006

[Pat494]

Bernanke speaking 7pm NYSE time according to Bloomberg.

Poor OLD Greenie lost the plot towards the end imho and eased himself out into retirement. Has Bernake got the courage to point out a few of the salient facts eg US debt. I doubt it but we shall see. The Admin won't have appointed him if he was going to cause "waves".

 

[mark twain uk]

time for an old fashioned 100+ points drop / sell-off into the close?

 

[Racer]

Poor OLD Greenie lost the plot towards the end imho and eased himself out into retirement. Has Bernake got the courage to point out a few of the salient facts eg US debt. I doubt it but we shall see. The Admin won't have appointed him if he was going to cause "waves".

In 1929 very few dared to say there was a problem until it had already happened

 

[leovirgo]

time for an old fashioned 100+ points drop / sell-off into the close?

Not yet. I guess Bernanke and PPI will move the after-hours market.

 

[mark twain uk]

time for an old fashioned 100+ points drop / sell-off into the close?

there's always tomorrow, and Mr. Bernanke, and events, I can see more reasons to go down than up

 

[frugi]

Dow futs volume at price with daily / weekly / monthly comparisons. Could be handy.

Here

 

[Racer]

Stocks barely move before Bernanke; Oracle slips
After the closing bell, shares of Oracle Corp. (NasdaqNM:ORCL - News) fell 3.3 percent to $13.27 on the Inet electronic system after its database software sales fell short of some forecasts.
http://biz.yahoo.com/rb/060320/markets_stocks.html?.v=14

 

[Pat494]

Poor OLD Greenie lost the plot towards the end imho and eased himself out into retirement. Has Bernanke got the courage to point out a few of the salient facts eg US debt. I doubt it but we shall see. The Admin won't have appointed him if he was going to cause "waves".

Looks like Ben is Bird Brain's boy !!
More rate rises and steady as she goes.

I see Bill Gates and Terry Leahy et al. are going to advise Gordon. That's along with Greenspan, the Treasury (and mystic Meg ?). Should come up with some interesting results, but I doubt it.

 

[kriesau]

Looks like another test of resistance at 11300 coming up.
This level held over the prior two sessions and probably will again today.

 

[macbonzo]

Not at the moment. Even lumping in all the caveats about volume and it being lunchtime, we have to accept that this is still (even after a 360 point up move) and extremely strong market. Without trying to state the obvious, we need sellers to outnumber buyers for the market to fall. Every time these indices hit new highs, there is a big follow through and shorters get their a**s's handed to them on a plate.

The move up over the last 25 minutes happened with little or no resistance at all.

All you can do is protect your capital and not let your conviction overrule your discipline

 

[Racer]

-- U.S. wholesale prices plunged 1.4% in February on lower food and energy prices but core prices were surprisingly high for the second straight month, the Labor Department reported Tuesday.
"All is not quiet on the inflation front," said Michael Gregory, an economist for BMO Nesbitt Burns. "Commodity prices and capacity constraints still pose some inflation risks."
The core producer price index -- which excludes food and energy prices -- rose 0.3%, higher than the 0.1% gain expected by Wall Street economists surveyed by MarketWatch. The core PPI had risen 0.4% in January

http://www.marketwatch.com/News/Sto...C6A-4259-828D-3EE739DA1B59}&siteid=mktw&dist=

 

[leovirgo]

11325 is the sort of high for the moment. A pullback is expected.

 

[leovirgo]

Anybody caught Long? 40 odds pts decline is not that bad

 

[leovirgo]

Anybody caught Long? 40 odds pts decline is not that bad

Perhaps I went out too soon!

 

[macbonzo]

This is the first afternoon in about the last eight sessions when there seems to be significant selling. I wonder if 1310 on the S&P was some sort of technical level?

 

[leovirgo]

For me, 11325 was a technical resistance since the break out above 11160.

 

[mark twain uk]

the critical level is 1312 but it never quite got there, the sellers rushed in just before

the way I see it we have in fact 1316 and 1294 as the most significant figures. If it breaks above 1312 and then 1316, I could go all the way to 1345.

If it breaks below 1294, then is anybody's guess, as a minimum I can see a retest of 1269 or even 1252

 

[Pat494]

At last the Dow is doing what I thought it ought to have done last week, and should continue a bit imho

 

[mombasa]

This is interesting now. Been short from 11,312 (don't get excited, was short from 11,265 and got stopped out at 11,336 !!!).

Made a few points so it's ok.

But now, its testing the upper trend line on the daily at 11,220 odd. So, it it going to bounce up or break?

Either way, it will be a big move imo.

Edit : Actually trend line rules say that it should break below the trendline and then continue up, ie what we've had so far is the first break, now the drop below and on and up.

There was a good article in the knowledge lab abou this.

 

[bansir]

Nice signals yesterday on the 5 min candles.
If you got long on the breakout from congestion (16:30 ish) then the NDT was a good close signal.
After that the doji top followed by EMA(20) downside break + confirmation allowed a nice short. Exit using trailing stops, or envelope breach.