Dow 30 stocks down today, but on low volume, after being up 4 days, what you think?

[safvan]

If you are trading daily charts I would wait for at least one to two weeks for now. The market needs to either slip downwards or hold on and move up.

Whether it crashes to the downside or upward, as traders you can make money.

I must however say that making money in stock market is definitely to the upside. For now just wait it out and save your money.

 

[brettus]

If you are trading daily charts I would wait for at least one to two weeks for now. The market needs to either slip downwards or hold on and move up.

Whether it crashes to the downside or upward, as traders you can make money.

I must however say that making money in stock market is definitely to the upside. For now just wait it out and save your money.

Big money is made from shorting the market i'm sure. Haven't you watched wallstreet 2!?

 

[JahDave]

I dont think this can push upwards without a big correction to the downside. If we don't get that sharp decline, then i think we're in a bear market for sure. QE2 finishes at the end of this month. I think that will be a negative as well as OTC gold banned in the US.

It is funny that the otc ban goes into effect on July 15, because I have stated on my thread several weeks ago that the USD_CHF is looking at a huge reversal in the middle of July based on Fibo time...............I really don't know why this Frank-Dodd BS will help the USD, but it seems that it will,,,,,,at least in the short term

 

[JahDave]

I really don't think this is just a correction of the bull market.............By my Elliott Wave counts, this should be a full on reversal...........If the Dow breaks the green support line then I will be confident that the reversal has happened........

 

[safvan]

I am seeing a side ways to slight upward move and then upward trend resume provided it does not break below 11555.

It sort of looks like small cup and handle.

 

[theroguetrader]

I dont think this can push upwards without a big correction to the downside. If we don't get that sharp decline, then i think we're in a bear market for sure. QE2 finishes at the end of this month. I think that will be a negative as well as OTC gold banned in the US.

well i did say i was a bit soon, sentiments bearish yup, but its gotta find support soon no ?

 

[BillSimmons]

I really don't think this is just a correction of the bull market.............By my Elliott Wave counts, this should be a full on reversal...........If the Dow breaks the green support line then I will be confident that the reversal has happened........

What software or site did you use to make that chart?

 

[JahDave]

What software or site did you use to make that chart?

Rumus II you can get it for free from fxclub.com and it is open source software. I have modified almost everything in it to suit me which is what I really like about it.

 

[safvan]

The Dow Jones is now gearing up for a move up of 500 to 800 points in the next couple of weeks.

 

[BillSimmons]

@safvan the only problem I see is the down had week volume these last two days, especially compared to higher volume on two down days prior.

 

[safvan]

Markets have shown in the past to continuously crawl upwards with weak volume. It shows caution with optimism.

The point is we never know what is going to happen. I just want to control my losses when I am wrong.

 

[Hikapo]

Markets have shown in the past to continuously crawl upwards with weak volume. It shows caution with optimism.

The point is we never know what is going to happen. I just want to control my losses when I am wrong.

That is so true. Controlling losses is key!

 

[JahDave]

This is the bounce off the trendline. I think it will break it on the next test down. If not on that one then I am quite sure it will break down on the third test. When it does break down, the move will be huge to the downside.

 

[Hikapo]

Up up here we go! :clap: