Where is the Dow & others heading in 2005?

[User]

So guys I think much is dependant on this Double Bottom.

If it holds it stands, if it doesn't then their is no double bottom.

So if DB then 10790-10800 if not then 10710-10700?

 

[FetteredChinos]

gotta pick one, User!!


cant stay on the fence all the time 😉

 

[User]

OK as I'm short I'll pick 10700-10710.

I think CV will get his points for Dow Competition!

 

[FetteredChinos]

even if i was short, i dont think the market will have enough volume to drop it all the way down there..unless the Big Boyz decided to mess around with things...

if i was short, i would plump for 10730 as a close..

 

[User]

Options exp so you never know what may happen.

 

[FetteredChinos]

ah, true blue.. i had forgotten about that..

still, time for a coffee and a lie down, then its off to the pub/cinema. orders are in....

 

[User]

FC just about to test Double bottom on 5min intraday chart. I think you better hope 😉 for a triple bottom.

 

[FetteredChinos]

ive already got one of those......

 

[FetteredChinos]

its still following wednesday's action thus far..

lot of manipulation going on at the moment...

 

[FetteredChinos]

long at 10.733 as per normal system.

FC

 

[tradesmart]

as per normal system.

A "normal system"........!?

normally I favour the abnormal......

Bounce off of the magic '32' (thanks CM.. 😎 .) and the Naz is in synch....

is it to sucker the shorts or the bulls.....?

who's suckering who? - I'm losing track......

(hey - I can smell burnt bear - does this mean something...?)

 

[FetteredChinos]

bulls arent quite dead yet...

now will it break the recent downtrend on the 5 min chart...

 

[tradesmart]

on the 5 min chart...

and the 3/10/15/60 min charts.....!

Yes, definitely maybe.....

The bullish down wedge triangle has just taken a different profile but it's still there....and on the Naz too......

 

[jonnyy40]

Did you read about that woman who ripped off her boyfriend's left testicle with her bare hands and handed it to him saying 'this is yours'.She's expected to enjoy the cushiest 4yr sentence in Holloway's history.

 

[tradesmart]

On topic son......

That bullish down wedge triangle is shaping up nicely, and that's not b*lls....

It's bulls......

 

[FetteredChinos]

hmm, interesting.. another winner on this 1st stochs cross gubbins.. +25 today..

making +80 from 4 trades..4 wins..

bet it wont last...... 🙁

 

[User]

Good stuff FC

The Dow rallied towards the end but failed to test 10800 which is the resistance level. Also the Nasdaq finished down on the day which implies further weakness.

Mondays action: A move towards 10820 should see us playing with 10850. A move towards 10760 should see us fall through 10750 which should see us go to 10700.

The fact that we breached the trendline in Thursday's session implies further weakness. So 10800 should prove difficult. The VIX rallied on Thursday but Friday had a shocking move south. The VIX fell 5% on Friday. This should mean more definate declines in the near future. New lows for the year should be seen if 10700 is breached.

Good Luck

 

[Salty Gibbon]

Mondays action: A move towards 10820 should see us playing with 10850. A move towards 10760 should see us fall through 10750 which should see us go to 10700.

With the market closed on Monday that would be something else !!

 

[counter_violent]

With the market closed on Monday that would be something else !!

lol@salty

Three peak divergence should be watched at this point indicating a substantial move south, based on R S I and MACD 6 month daily chart.

Index could move a little higher short term and signal still be valid IMHO

 

[User]

Sorry about that. Use it for Tuesday's action. lol