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Atilla
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Hi guys,
Very quiet here today... Everyones visiting the Swing DOW thread which looks equally interesting... 👍
Just having a quick gander at this opportune moment and I think this 12800 is a very sticky important spot. This is the real battle line for the 13000s imo. I think the markets are desperately trying to reach for 13200s but I really can't see it happening.
Look at this long term chart - half squinting, the major support line has been touched umpteen times since 2003. The H&S formation also stands out even with my eyes half shut. Hence whilst the top H&S has more or less played out, there is now a much bigger one in play.
I reckon a drop back down to 12000 followed by a short dead bounce to the long term support trend line around should signal the big ride down.
I really feel this is likely to be this summer probably after the olympics when Asia will go into meltdown in sympathy to our woes. 👎
There is ominous eery silence at the moment as we look over the edge and marvel at that big long deep fall DOWn... 😢
Very quiet here today... Everyones visiting the Swing DOW thread which looks equally interesting... 👍
Just having a quick gander at this opportune moment and I think this 12800 is a very sticky important spot. This is the real battle line for the 13000s imo. I think the markets are desperately trying to reach for 13200s but I really can't see it happening.
Look at this long term chart - half squinting, the major support line has been touched umpteen times since 2003. The H&S formation also stands out even with my eyes half shut. Hence whilst the top H&S has more or less played out, there is now a much bigger one in play.
I reckon a drop back down to 12000 followed by a short dead bounce to the long term support trend line around should signal the big ride down.
I really feel this is likely to be this summer probably after the olympics when Asia will go into meltdown in sympathy to our woes. 👎
There is ominous eery silence at the moment as we look over the edge and marvel at that big long deep fall DOWn... 😢
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catracho
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Quiet = mkts range bound and indecisive..guess everybody waiting for the break above 12850 or the fall back to 12k...
still feel we have one more push up to scare the shorts THEN we go back down !
This thread is fine - it reflects the mkt!
luckyd1976
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Well no breakouts today. Im still hangin tight ST until then. S/R 12894-12500. But IM loving the LT chart here (DB on the Jan/Mar lows and BO confirmed APR18th and held) to go long the DOW LT with a tight stop.
firewalker99
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firewalker99
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We haven't had much distribution. So if we are going down again it's likely we will try and unload some more at the top of this range. In fact, that's what we've been doing today. Keep paying attention to the volume that reaches up to or above 12800. If this was 'good buying' price wouldn't fall.
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firewalker99
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That's right, quality before quantity any day.
Attached: 1 year daily chart and 5 year daily chart, just to put things in perspective. Even if the trend line is broken that doesn't signal anything definitive. False breaks are pretty common these days.
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Atilla
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I did notice you don't hang out there much... 😛
Quoting HolyGrail "Sorry but Bat Sonar System Fibonacci rules ratio 1.618 state that this thread becomes the most popular thread on T2W. The Dow 2008 thread will die. So stick that in your pipe and smoke it. Financial ARMAGEDDON is coming!
TAKE COVER! I have the Holy Grail."
I concur with his views but the death of DOW 2008 now he has gone just a little too far... 😡
Long live DOW 2008... 👍
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technicals suggest 950 is potential target for this up move - 930 could be potential hindrance.
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me, ive given all yesterdays profits back today, i keep trying to pick tops...................o well, im staying out for today now, what is driving this market up anyway?, i thought news was bad today with the home sales.
Cheers smbnt
I had the 50% of the "bear market" on my radar too................ :cheesy:
any ideas what our favourite soothsayer Oscar's ES predictions were for today?
firewalker99
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firewalker99
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Just had a look, he went for DOWN.
If I look at his videos, I usually only do it AFTER the day... otherwise it might influence my decisions...
yes mine too - his passion is overwhelming and my bias switches. I do enjoy his videos though very entertaining.
firewalker99
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yes - how many does he follow? I thought he only had one? Does he have additional videos with more than one?
I prefer good old s/r switches... saying that got lucky with my dow long entry today - chickened out early too...
firewalker99
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well in his latest video he talks about CCI, RSI, MACD, stocs,...
I prefer to see him talking about chart patterns and formations.
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