Dow Intraday charts 08/Mar - 12/Mar

[tradesmart]

OES - Just a lucky guess (I guess.... )

don't mention Mr G. - it'll bring out the bears again.......

edit:- 20.16 - price 230 - I said the bears would come out (spooky.... :cheesy: (fortunately been short for most of the way down))

edit:- 20.58 - covered short at 180 - slightly premature (by about 60points..!!) - this index has sprung a serious leak.....

 

[ChartMan]

More of the same, another slope change... one more and it'll be vertical ! 3 day's of CCI divergence. Still not looking to catch a knife...

 

[ChartMan]

Doesn't look much... until you look at the numbers on the right...200 point drop! Hope you got some. :cheesy:

 

[mombasa]

some good analysis here :

http://www.tradingmarkets.com/.site/stocks/commentary/gkitermi/03112004-37258.cfm

doesn't look good for the bulls

 

[bgold]

Is that 1 bull flag on the 1min chart? Or is market already rolling over for another leg down?


edit: actually it looks more like an expanding triangle or "trombone", a patter coinciding out of control and emotional markets, with usually a lot of public participation.

 

[bgold]

Both DOW and ES bounced exactly of the fib .618 correction of advance from yesterdays' lows to todays' highs (resp 153.72 and 1108.25)!
Are bulls giving it another shot?

 

[One Eyed Shark]

Only scalping a few here and there watching the trendline down from 200 with support c 165 as the next clue for direction.

16:45 Looking a bit top heavy at the mo time for profits and tea

 

[frugi]

3 waves up and into resistance. Will it complete the 5th after a pullback to 100EMA (or 10180 to shake out a few more bulls)? Asc tri target 285ish I think. If this wave 4 is a bull flag it\s target is c255, more realistic.

 

[bgold]

Interestingly ES is stalling advance at ~ fib 0.618 of decline from yesterdays' high to low. DOW is underperforming as equivalent level is at ~10245.

What kinda pattern has the DOW? I see ND i RSI and CCI. Possibly a small H&S if we turn down below neckline at 10209 (perhgaps I am letting imagination run a bit!!)

 

[anmolway]

FRUGI, forth wave as a bull flag?

OES, seems like another H&S forming, not too clever with targets I'm afraid. Break point seems like 200sh

 

[frugi]

Anmol,

Well, perhaps not a bull flag as it's gone on a bit long, but here's some waves anyway!

 

[frugi]

Stop sitting at 38% of today's advance and make your mind up whether you're going to break out or down

10256 here we come or do we have to go back down to 10163/175 fibs?

SOX, COMP, broker/dealer and banks leading us up. Could turn out to be a bull gorgeous day as China is fond of saying, but them bears may be just sharpening their claws and polishing their bull traps for further assaults later.

 

[frugi]

5th wave now negated...down to 162?

I'll get me coat

4th wave was a trickster, pretended to break down, formed a down sloping funnel and then broke out up. They're often messy. But we'll need a lot of energy to break HOD. Revised target now about 245 I think = ES 1120ish.

 

[anmolway]

unless this is a bull flag then I think we should be heading down, hoping so anyway

 

[ChartMan]

Nice move up, and closing at a resistance point. RSI shows not a lot of room for upside so maybe a pullback will happen... Of course, if it were to turn out to be a Bear flag , we have a target of 10,050...

 

[ChartMan]

The one min chart shows a bull triangle, target 295/300... Closing at HOD is iften followed by a continuation. A day of divergences, so I guess TS had a ball Good riddance to the Bears I say.

 

[tradesmart]

Very true that Friday was a good day for tradeable divergences CM, but was not trading/screen watching during market open time....

I was able to take a long on the futs at 10112 in the morning and was quickly able to put a stop in at 135, so decided to just leave it running in anticipation of a good bounce as I probably would have closed early if I had been watching.......will let it run for a while in anticipation of a possible 50% retracement of the fall, but will run a trailing stop to lock in some profit if it decides to go for further downside….(have noticed that it’s partial to prompt retests of extreme high/low levels……! )

Probably too early to draw trendlines, but here's a shot at it......