Dow Intraday Charts 20 Sept - 24 Sept

[justyn]

.... and watch the reaction to the economic news out later.

Can't see anything in my economic calendar for today, am I missing something?

 

[FetteredChinos]

nah, i think you are right..

http://biz.yahoo.com/c/e.html


initial claims tmr though. could be a biggie...

FC

 

[GKB]

Interesting technical posts Graham, and well done with the large points bag…….

I’m interested in the volume analysis that you are using – can you post a volume chart please……?

Regards

Thanks for the comment. I think MarketVolume have copyright protection, but having said that, I'm sure that one example chart shouldn't worry them unduly.

I think it best if I don't post these charts regularly though. I believe they offer a free trial for 20 days.

Please note that whilst volume analysis commonly predicts trend reversal, the extent and degree depends on previous volumes (sometimes extending back weeks). With this in mind, although trend reversal can be predicted, the timing and extent is not predictable, IMHO. Best therefore to be used with usual TA / EW analysis. It's just another "string to the bow". Caveat emptor.

See last 5 day's MA volume chart below.

Regards,

Graham

 

[GKB]

Justyn and FC.

Thanks for reading my post so carefully. LOL. "Later" is just that. I "think", (when I do, that is!) in terms of days / week.

Sorry I didn't make that clear.

 

[FetteredChinos]

overnight i see the futures came storming down. IG index quoted 10,180 as a low i think. i hope that isnt it, as i was quite hoping for a long from 10,170 today...

good trading all

FC

not far off it in pre-market now...

everyone awake?

 

[trendie]

damn!!
I closed out my 10,256 sell at 10,196.

only 60 points.

 

[FetteredChinos]

nice trade trendie. is this your reversal-based system?

does it work on longs as well as shorts? id be intrigued to find out.

 

[trendie]

No- its all trend following.

Trend is generally down.
I just wait for the market to retrace, then I feel I can take a low-risk entry.

Yesterday, market spiked up.
Therefore, a sell back into the main trend seemed a low-risk shot.

I am waiting for a intra-day trend up to about 10,235 or over to initiate another sell.
( yesterdays high 10,270, low of 10,200. midpoint of 10,235 ).

then, I will lcose it out when it hits yesterdays low, of about 10,200.

fingers crossed.

 

[trendie]

Oh, by the way, Mars crosses from Virgo into Libra on the Sept 26/27th.
Major reversal anticipated.

 

[FetteredChinos]

didnt that happen yesterday? equinoxes are also big turning points..

so says Gann anyway. think markets may have changed in the last 70 years...

 

[trendie]

my sundial needs winding up.
I missed that one.

FC - looks like you hit the money with your 10,180 entry !!

 

[FetteredChinos]

not quite mate. missed it by 2 points. wont be happy if it bombs north from here...

 

[FetteredChinos]

now im in.

target 10,280 again lol...

stop 10,075

 

[trendie]

I am kicking myself for getting out at 10,196!!
Cant see Dow reaching 10,235 to my entry !!

 

[FetteredChinos]

dont worry trendie,

10,235 is on the cards, easy


edit :- didnt say which day lol

 

[FetteredChinos]

anyone else think we are oversold??

adding a daytrade on now since we got to the outer level.

looking for a 50+ point bounce now..

 

[trendie]

I was thinking, with a 100 point fall.
I am looking at high of 10,200 ( open ) and low at the moment of 10,150, I should initiate a sell at around 10,175.

on the fly calculations - risky, but yes, overshot, bounce expected.
but when - wait till 7pm effect ??

 

[FetteredChinos]

whats volume like? is it heavy? or lighter than the past two days?

if its lighter, then it should make a serious effort to close the gap..

 

[trendie]

Broadsword - what is your stop-loss ?

Dow seems to be drifting lower.

FC - volume seems to be drifting lower since 3pm.

 

[FetteredChinos]

good. lets hope volume dries up as that should mean sellers are drying up. therefore the only direction is northwards.

in theory lol..