Dow 2009

Nice break from the head and shoulders pattern. Looks like 9125 could be the next stop according to chart. Also trading the EUR/JPY in conjunction with this. DailyFX had a good article on the seasonality of stocks for the month of September which could cause further drop in EUR/JPY as well.
 

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Maybe a quick trip to 9000 before OPEX?

That channel is incorrect, its a rising wedge. Take the slight break out in May, with the wave highs. This could signal a reversal, could be a head fake. This wave may not break down.

Write some calls at the 10,000 level for October- :clap: Take the nice premium.
 
Has anyone tried the backtothefuturetrading indicator, i got the trial, and so far its pretty impressive, but id like to know if there is anyone here using it?
 
Check out what my new indicator chart for today on the YM, it was spot on for the most part, Im still working on a system to trade it, but it picked almost every turning point in the market this morning before it came and told me what minute is was coming.
 
I posted this on my journal, but thought it would be more appropriate to post it here as well. Not sure if the time frame for this chart is of any use to traders here, but thought it might add some value.

The Dow Jones Industrial Average seems to be in the process of forming the right shoulder of a Head and Shoulders pattern at the moment. I didn't include any trend lines on this chart, but anyone with knowledge on this basic pattern would know what to look for.

A quick extrapolation from the chart caters to suggest that, if the pattern follows through, DOW could go to 4000 by roughly 2020? :|
 

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A quick extrapolation from the chart caters to suggest that, if the pattern follows through, DOW could go to 4000 by roughly 2020? :|

What's the point in speculating what's going to happen 10 years from now? It's hard enough to know what the next day could bring :)
 
pattern

since i trade chart patterns and i had seen the bump and run pattern before the recession which came true, id like to show you another one which is very likely to brake because 10000 will be a resistance level, not support coz market wont have enough bulls yet.
 

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since i trade chart patterns and i had seen the bump and run pattern before the recession which came true, id like to show you another one which is very likely to brake because 10000 will be a resistance level, not support coz market wont have enough bulls yet.


Fwiw - in my last charts I have Dow touching 10400-500 before bouncing off resistance...
 
im pretty sure thats the level it starts to bounce.. for me all signs show that the market is clearly out of breath .. for the moment. and will drop to almost 9000 in a month or 2 .., well i have my money on that at least, only time will tell :p
 
i know its the dow thread but still, sp500 has broken a pattern and found resistance, a perfect picture for me :p and that makes me confident that dow will follow
 

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Anyone else thinks Dow is going down now and its good chance to start short some weak stocks as a day trade ?
 

Whilst the charts looked over bought I'm one of those cynical sods who thinks pension fund managers will boost the market to top up their bonuses and the drop will happen early next year...

Bear trap mi thinks... :rolleyes:

I'm well confused... :rolleyes:
 
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