the dow and spus both stayed within their channels today{top of channel starts with two june lows}when a rally is ending the market becomes violent or zig zags, ajaskey is probably right ,again,if the fed doesnt cut its allready built in we small rally and sell off, if fedcuts we sell off, check oldschol waivers posts for support resistance or draw your own channels,Chocolate said:
martin brown
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Pat494 said:
read the small print.
"TwoWaySpreads is a trading name licensed to Finspreads (TwoWaySpreads uses the Finspreads platform and back office to carry out trading),"
http://www.twowayspreads.com/
adrianbuthee
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Pat494 said:
Hi Guys
Just to clear this up...TwoWaySpreads and TwoWayFutures and completely different products. Yes, TwoWaySpreads asks for just £100 for an account and is a trading name licensed to Finspreads. TwoWayFutures however is nothing to do with Finspreads. Here you trade DMA futures as a spreadbet.
Regards
Adrian
TwoWayFutures
"For all the APPARENT ACTION, note that the volume for the Dow again was essentially flat. All that sidelined money just stood there, watching the show, unwilling to get sucked in. They may be unwilling to participate, but they are smart about not losing money. If I am right about Thursday the 10th being the bottom pivot point, that money gradually will finally begin to show up on the floor. Hang on, better days are, I believe, just around the corner."
Charlies take on yesterdays market reaction to the Fed rate hike pause. He appears to favour a more bullish trend ahead.
I'm not so sure. A pause was very widely anticipated and largely factored into the market already. We could see a short term rally up to resistance at 11300 and this might even push the Dow through this level and back up toward 11450 but other indicators suggest that we will be heading south through the dog days of August. If we break down through 11000 then we could see a real retest of 10700 once more.
Charlies take on yesterdays market reaction to the Fed rate hike pause. He appears to favour a more bullish trend ahead.
I'm not so sure. A pause was very widely anticipated and largely factored into the market already. We could see a short term rally up to resistance at 11300 and this might even push the Dow through this level and back up toward 11450 but other indicators suggest that we will be heading south through the dog days of August. If we break down through 11000 then we could see a real retest of 10700 once more.
macbonzo
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I really love the crude/gasoline/distillate figures on Wednesdays. Today we have the government figures:
DOE Crude -1.1m
Gasolines -3.2m
Distillates -200k
then API industry figures:
Crude +5.6m
Gasolines -3.14m
Distillates +45k
Quite frankly, if I were the DOE I would be embarrassed
DOE Crude -1.1m
Gasolines -3.2m
Distillates -200k
then API industry figures:
Crude +5.6m
Gasolines -3.14m
Distillates +45k
Quite frankly, if I were the DOE I would be embarrassed
dowif you take the last 5
if you take the last 4 or 5 days ,the last up day and the rest after,it began a new channel and is staying within it, fri,mon,tue,wednesdayRacer said:One could have a very cynical approach to the up move on the US indices today .... who me?
ROFL
Still looks a bit choppy though - could vacillate in the 11050 - 11200 range for a while before any real move down.Racer said:One could have a very cynical approach to the up move on the US indices today .... who me?
ROFL
Todays July retail sales might just provide a short term fillip but ultimately oil could still be a real catalyst with the looming UN nuclear standoff with Iran rapidly approaching on top of the Alaska shutdown, Nigerian strikes and the ME conflict.
Todays RBC Index does not auger well for the future :!:
Consumer Confidence Hits 3-Month Low as Americans Worry About the Direction of the Economy
Friday August 11th 3.35am ET
WASHINGTON (AP) -- Consumer confidence slid to a three-month low as people fretted about the direction of the economy and their own balance sheets in the months ahead. The RBC CASH Index, based on results from the international polling firm Ipsos, showed confidence ebbed to 74.8 in early August. That marked a sharp drop from July's showing of 80.1. It was the second month in a row that confidence dropped, and it was the lowest reading since May.
Consumers are growing more anxious about future economic conditions. An index measuring expectations over the next 6 months -- including the overall economy's prospects as well as their own financial situations -- declined in early August to 21.8, down from 34.2 in July. It was the weakest since May. With the economy slowing, Federal Reserve Chairman Ben Bernanke and his central bank colleagues decided Tuesday to halt the longest unbroken stretch of interest rate increases in recent history, a reprieve for millions of borrowers after more than two years of rate pain. While that gives borrowers breathing room, it doesn't mean their rates are going down. People with lots of debt loaded up on their credit cards, those who stretched to buy their homes with adjustable-rate mortgages and others who have watched their interest rates march up over the last two years are still feeling that pinch. analysts said. The drop in confidence comes as many Americans have concerns about President Bush's economic stewardship. Sixty-one percent disapprove of Bush's handling of the economy, according to an AP-Ipsos poll. Consumers' attitudes about current economic conditions also waned to 92.1 in early August, down from 96.6 in July. Another gauge tracking consumers' sentiments about making a purchase, saving and other investment decisions dipped to 83.2 in early August from 89.6 in July. The confidence index is benchmarked to a reading of 100 on January 2002, when Ipsos started the gauge.
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Tech analysis shows DJI has yesterday potentially bounced off the .618 fibonacci retracement of the July swing and reached confluence with the 50 day moving average, which it has bearishly dipped slightly under, AND mid range bollinger band.
See here: http://www.shad-thames.com/DJI_Aug2006.JPG
Note the 200 day moving average is very close.
I see that if the support manifested in the 200 day and .618 retracement breaks today we could see it go much lower. But, more likely a bounce off the .618 support has started and we could see 11200 get closer. All depends what happens today.
If DJI moves considerably south today and breaks 200 we could see 11200 getting closer through next week.
See here: http://www.shad-thames.com/DJI_Aug2006.JPG
Note the 200 day moving average is very close.
I see that if the support manifested in the 200 day and .618 retracement breaks today we could see it go much lower. But, more likely a bounce off the .618 support has started and we could see 11200 get closer. All depends what happens today.
If DJI moves considerably south today and breaks 200 we could see 11200 getting closer through next week.
kriesau said:
Please read my post carefully "But, more likely a bounce off the .618 support has started and we could see 11200 get closer. All depends what happens today. "
Nothing is for certain in the markets. Watch what happens at support today and look for the more likely bounce. Sorry of this wasnt spelled out clearly enough.
bearfaced
Pat494
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An interesting programme last night called "Costing the Earth" about Sweden's attempt to be oil free by 2012. 30% more power for vehicles running on ethanol etc.
If the politicians decide to earn their vast salaries and perks ( doesn't include the staff John ) they might like to get on with it - like pulling their fingers OUT !!!!!!!!!!!!!!!
If the politicians decide to earn their vast salaries and perks ( doesn't include the staff John ) they might like to get on with it - like pulling their fingers OUT !!!!!!!!!!!!!!!
Sweden is ahead of the UK in other areas too :cheesy:
http://www.jacatu.de/wbb2/t7850-swedish-versus-british-nightclubs.html
This is also a stock worth checking out (I hold).
http://www.tanfieldgroup.com/
http://www.jacatu.de/wbb2/t7850-swedish-versus-british-nightclubs.html
This is also a stock worth checking out (I hold).
http://www.tanfieldgroup.com/