Dow 2009

[N Rothschild]

So whats everyone feeling for 2009?

IMO we are going to see a bit of a rally into the start of NY then steadily sell off over 2009 ending the year down. as they say, a trend is a trend until it ends..and we are still in a massive down trend..i don't think the markets can shrug off the sell off we witnessed in October so quickly. I am looking for 6000 in the dow and i am putting my money where my mouth is!

As you can see in a weekly chart of the dow we are till in a down trend, if we are to rally i don't believe it will break the 21ema

 

[Bloodhound]

Hi there,

For what it's worth (and please bear in mind I am very new to all of this) I think (from a TA point of view) both the Dow and the FTSE are forming symmetrical patterns which means we are due for a breakout pretty soon on both indices (no doubt the FTSE following the DOW) - either down to about 6,500 or up to about 10,500. Given that there is so much doom and gloom, as well as general economic malaise, I would predict a move down short term followed by a rangebound market well into the latter part of the year. The only thing preventing the market going lower than 6,500 (IMO) is the change of US President and the undoubted alterations this will make to the way the markets view the US economy.

Cheers
KJ

 

[KUTERO]

New year..New starting..New hopes..
Good Luck..

 

[N Rothschild]

Few trend lines for anyone intrested. Still in a major weekly down trend..7000-6500 would be the next touch of the major trend if we break out of this minor upwards trend over the last 4 weeks or so, also the wedge forming over the last few days..lets see what next week brings.

Also a 3rd touch of the minor up trend would coincide with a touch of the weekly 21ema. Possible bottom potential IF we were able to hold about 8000 or above, forming a head and shoulders reversal pattern

 

[Silversea]

Only 12 pts to next target :clap: :smart:

ESH8-= E-Mini S&P500 March 2009-CME (EPH9 on MetaTrader Platform)

Only .50 pts from Target, that's good enough for me :clap: :smart:

 

[stuart72]

Es

Would you be so kind to briefly tell the uneducated ones - ES ???

Tks

 

[stuart72]

Now for the educated ones.......:smart:

Do you see pullback from here?
Whats the startegy? :idea:

 

[akinolukentuf]

8944 dow short.

 

[akinolukentuf]

8960 short again .

 

[francisfinley]

8960 short again .

im waiting until we get to the other side of 9000.

maybe as much as 9025.

 

[Atilla]

im waiting until we get to the other side of 9000.

maybe as much as 9025.

I have Pivot Points

R1 @ 9065
R2 @ 9160


If they get taken out then we are enroute to 9500 & 10,000.

I'm flat waiting to see next couple of days. However, thought it would rise once the bad news on manufacturing index was out. :cheesy:

 

[N Rothschild]

Would you be so kind to briefly tell the uneducated ones - ES ???

Tks

ES is the symbol for the S&P500 futures contract

YM is for the Dow futures contract

 

[N Rothschild]

I have Pivot Points

R1 @ 9065
R2 @ 9160


If they get taken out then we are enroute to 9500 & 10,000.

I'm flat waiting to see next couple of days. However, thought it would rise once the bad news on manufacturing index was out. :cheesy:

im flat to, wana see the price action around the 9050-9100 mark before i take any posistions

 

[francisfinley]

I have Pivot Points

R1 @ 9065
R2 @ 9160


If they get taken out then we are enroute to 9500 & 10,000.

I'm flat waiting to see next couple of days. However, thought it would rise once the bad news on manufacturing index was out. :cheesy:

cool, yes no signs of slowing this little run, need to look for the big kahuna where everyone jumps off, obviously 9000 would be it. will wait to see on the other side... looking for a sell opportunity.

 

[akinolukentuf]

8952 short again

 

[akinolukentuf]

9015 short again full shorting par 8969 :cheesy::idea:

 

[arabianights]

Would I be a complete idiot if...

I were to do a MOC short with a guaranteed, say 100 tick, stop over the weekend? I'm pretty inexperienced with the dow but think it's way overbought here...

 

[Bloodhound]

Short @ 9015

Target 8950???

KJ

 

[N Rothschild]

I were to do a MOC short with a guaranteed, say 100 tick, stop over the weekend? I'm pretty inexperienced with the dow but think it's way overbought here...

sounds good to me, maybe increase the stop to 150-200

 

[N Rothschild]

Short @ 9015

Target 8950???

KJ

you could target alot more than 8950 IMO