Dow 2009
- Thread starter N Rothschild
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allan greenspan
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8000 is like a boundary.
watch the RSI support dotted line.
Hi Kutero,
Don't you mean the MACD dotted line?
Btw your post are always great, thanks a lot.
Best regards,
Allan
KUTERO
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8000 is like a boundary.
watch the RSI support dotted line.
Hi Kutero,
Don't you mean the MACD dotted line?
Btw your post are always great, thanks a lot.
Best regards,
Allan
Sorry..
Should be MACD as you said..
Not RSI.
Thank you..
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i did the same too, saw it spike near the end, decided on a short at 8030, £5 a point, hope ive not gone in too steep as im a new trader,
what did u mean by out of the atm ?
exportdealer
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Hi Stefan, atm = at the moment.
Closed the trade it was a bit impetuous based only on a trendine with very little confluence from price action. Came within 2pts of being stopped out for a large loss. Fortunately managed to close it for +22, but with JP Morgan with results out later and the obligation to mark to market removed I considered it the best cause of action.
Greg
francisfinley
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DOW must clear 8120 today or else it's going down...
I really don't know what the hold up is...
thumping resistance 8075.
im only doing the ftse these days but whoo some resitance there!
Atilla
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Congestion around 8000 expected but I can't make out who is winning the battle???
I don't know anymore??? (Not that I knew before much before
) I had expectations of it going higher but right now I'm going into neutral ground. To state the obvious
:cheesy: with some trepidation the DOW might fall off the cliff edge and fall back down to test 6500s or rocket up to 9000??? :-0Going to be an interesting Friday... :clap::clap::clap:
Slapshot
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For those who are having trouble seeing direction you have my sympathies, here we have a daily chart of the YM.
Divergance traders will notice the drop in volume while price has continue to produce higher lows.
Clear resistance around the 8070 area give or take a few pips. What makes this intersting is the area I've put a circle (or sorts) around the area to the left. Heavy supply (selling) in this area, so, if the Dow is to make it to 9000 and beyond there is going to have to be a significant effort to push through that area.
Just my 2c that I thought might help a few.
Divergance traders will notice the drop in volume while price has continue to produce higher lows.
Clear resistance around the 8070 area give or take a few pips. What makes this intersting is the area I've put a circle (or sorts) around the area to the left. Heavy supply (selling) in this area, so, if the Dow is to make it to 9000 and beyond there is going to have to be a significant effort to push through that area.
Just my 2c that I thought might help a few.
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Atilla
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Interesting volume divergence thanks Slapshot. Technicals may point to a drop but looking at it now it's going over 8105 and above...
As before that could be a bear trap and we could be on the verge of a breakout.
I was expecting more rises so this could be it but either way I've lost my rudder at the mo. Will watch and see.
Slapshot
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I take it you trade the cash not the futures?
Slapshot
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Right then.
As expected. were now (futures) right inthe middle of that previous area of supply I highlighted going back to the end of Jan.
Volume on the 5 min chart has shot up over the past 20 mins, supply is present. We will find out very soon whether the professional money are absorbing this supply or selling into a surge of buying from those thinking it's going back to 9000.
A quick look at the weekly chart indicates were back up to the levels of Oct/Nov 08 where the market found support.
As expected. were now (futures) right inthe middle of that previous area of supply I highlighted going back to the end of Jan.
Volume on the 5 min chart has shot up over the past 20 mins, supply is present. We will find out very soon whether the professional money are absorbing this supply or selling into a surge of buying from those thinking it's going back to 9000.
A quick look at the weekly chart indicates were back up to the levels of Oct/Nov 08 where the market found support.
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Slapshot
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Better to be on the sidelines living to fight another day, than in the thick of it getting shot at from all directions not know which way to turn.
rathcoole_exile
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Slapshot
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Bernanke also has a speech or some sort at 5.30pm UK time.
They wouldn't be marking it up ready for a down day tomorrow would they
Atilla
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Bernanke also has a speech or some sort at 5.30pm UK time.
They wouldn't be marking it up ready for a down day tomorrow would they
WOW!!! - Just came back to see the 8170... (cash)
I 'm thinking it is looking awfully bullish - especially as 8120 has been breached. I'm guessing we are likely to retrace back to 8120-40 regions and then having tested support rise to the yonder.
Looking bullish to me now especially if 8100s hold.
