Dow 2009

[Atilla]

I suppose, 8152 and 8166 will be resist for taking profit..
main resistance is 8200 as trend line. Also psychological..
and the next one is 8376..

and dont forget, "sell in may and go away "

Hi everyone,

We've had approx 4 weeks of upward movement with 3 weeks of sideways shunt... I really thought we would breeze 8000 after some congestion but it has looked like hard work. I'm not sure there is appetite in the markets for risk taking. Whilst there may be some bargain hunters but I think investors are still very cautious.

Having read your good contributions and analysis perhaps there is another week of a push up. I reckon 8120 - 8320 & 8400s all significant resistance points for me. I'm subsequently looking at the charts with bulls eyes and still indecision is what I see. No conviction in this updward move imo. Either we are going to break above this major resistance line or we are heading down.

Fact that we didn't break above last weeks highs I think maybe indicating direction is down. On the other hand strongly bouncing off 8020s is positive. This last week in April could be another sideways move with the summer term of a retest of 6500 regions.

On balance I feel we are heading down this week. Perhaps testing or even closing the week around 7820.

 

[KUTERO]

 

[Silversea]

'cos she's a Rangers fan too :clap:

I always thought that the Queen of England was a symbol equivalent to the Flag of U.K.

 

[DSL]

looks like 7 850 to me

 

[bongofury]

why ?

 

[vinicius]

Well we are back above 8000 but the 8120 region is failing to hold. I think we are heading down.

Shorts are in place SL @ 8150.

How is it going Attila?

Still in? What is your view..?:smart:

 

[Atilla]

How is it going Attila?

Still in? What is your view..?:smart:

I scaled out pretty much early on Monday morning and the rest got stopped out around 8000 when I moved my trailing SL.

I'm expecting similar moves to last week. We are likely to test 8200 perhaps a little higher for it to retrace back again. Sideway move continues with indecision on whether to move up or down beyond 8000 levels.

I think it's heading down now (currently 8150) and I am expecting it to bounce off 8120 base on 1 hour charts for the time being.

 

[TraderMax888]

I scaled out pretty much early on Monday morning and the rest got stopped out around 8000 when I moved my trailing SL.

I'm expecting similar moves to last week. We are likely to test 8200 perhaps a little higher for it to retrace back again. Sideway move continues with indecision on whether to move up or down beyond 8000 levels.

I think it's heading down now (currently 8150) and I am expecting it to bounce off 8120 base on 1 hour charts for the time being.

The DOW has rallied quite un-ncessarily over the last few days, buoyed by better than expected (or should that be wildly overestimated cynical) earnings figures, and the fact that the robust US Treasury policy has taken some effect. But dark clouds are about to follow IMO.

I expect the DOW to climb up, possibly as high as 8500 but then fall back sharply towards 7500 (or even 7000) over the coming months.

A possible recovery may take effect in the last qusrter of 2009, pushin the DOW back towads the 9000 level.

~M~

 

[Atilla]

The DOW has rallied quite un-ncessarily over the last few days, buoyed by better than expected (or should that be wildly overestimated cynical) earnings figures, and the fact that the robust US Treasury policy has taken some effect. But dark clouds are about to follow IMO.

I expect the DOW to climb up, possibly as high as 8500 but then fall back sharply towards 7500 (or even 7000) over the coming months.

A possible recovery may take effect in the last qusrter of 2009, pushin the DOW back towads the 9000 level.

~M~

I agree.

Sorry to touch or laugh at fundamentals but here it goes... Bloomberg so called experts announce one of the biggest drops 6%+ in output and then add but the good news is inventories are down and hey presto market rallies saying we are near the lows.

Heeellllloooo anybody in there.

With no money and jobs people will not be buying more **** they don't need with jobs or money they don't have and thus they can take their inventories and shove it up to Pluto....

Fantastic wisdom that is... Inventories are down and companies reporting above expected returns... Yipeee hiiieee yoooo :clap::clap::clap:


Time will show alll.....:whistling

 

[hasanalali]

i think 8300 a good strong RESISTANCE in daly chart

 

[KUTERO]

I suppose, 8152 and 8166 will be resist for taking profit..
main resistance is 8200 as trend line. Also psychological..
and the next one is 8376..

and dont forget, "sell in may and go away "

 

[Atilla]

Here is a real peace of news that will knock off most of the indeces off their perch...

If this swine flue really catches on - aircraft carriers, holiday resorts, social events gatherings, food chains, restaurants even large supermarkets will all suffer from a big drop in expenditure.

Not to mention big shopping complexes.

On top of the big credit crunch this could be the second big whopper to knock the stuffing out of what ever green shoots they are mumbling about in the press. SELL SELL SELL would be my advice.

I think it is likely to get a lot worse I'm now expecting an imminent big sell off in many global companies that are likely to be hit by this virus. :!::!::!:

 

[N Rothschild]

think your getting a bit ahead of yourself attila..

 

[Atilla]

think your getting a bit ahead of yourself attila..

Yeah you're probably right... Swine flue must have gone to my head... :cheesy:

You still think we are going higher???

 

[N Rothschild]

at the risk of being made to look like a fool, yes how much higher? who knows..

no doubt we will see a corection tho, wether we have one last push is the question

 

[Atilla]

at the risk of being made to look like a fool, yes how much higher? who knows..

no doubt we will see a corection tho, wether we have one last push is the question

Fwiw I'm only looking for shorting opportunities. I'm expecting similar action to last week. Up and then down.

This time round I think 7750s & below is likely to be target...


I'd guess the only risers are likely to be pharmacuticals... Pessimisms is great sensation when shorting the markets eh??? :cheesy:

 

[vinicius]

Are you already in Atilla?

 

[Atilla]

Are you already in Atilla?

Scalped tonight but I'm flat at the mo.

I think its best to focus on direction, resistance and support rather than peoples entry or exit points.

I'm bearish - very grissly bearish at the mo.

 

[KUTERO]

 

[KUTERO]

is it bearish hanging man ? :|