Where is the Dow & others heading in 2005?

[FetteredChinos]

i think he might have it inverted today. as can happen.

he generally predicts the turning points via delta, and then uses TA to work out the direction.


id be truly surprised if we kept motoring up much past 450.

 

[Racer]

Lot of support at 10380 yesterday, now approaching from the other direction.. will it fail here or push through?

 

[FetteredChinos]

knife through butter?

 

[senyorqueso]

Anyone here have rules on not trading in the first 30mins/hour, or does that limit your opportunities?

SQ

 

[Racer]

knife through butter?

No

 

[FetteredChinos]

lol.. did you see it bounce as soon as i had posted that.. typical!

still, having another crack now..

logging off now, so watch it bomb 100 pts in 10 mins..

good weekend all.

FC

 

[Racer]

I could be wrong but this market doesn't look too happy to me

 

[kriesau]

Anyone here have rules on not trading in the first 30mins/hour, or does that limit your opportunities?

SQ

I wouldn't have 'rules' about this. Depends whether you are looking to day trade or to find longer term swing positions.

I would never trade in the first hour if I was looking to daytrade because you can't establish a likely trend that early. If I was looking for my entry point on a new swing position then I would enter a trade when the market reached the level that I was looking for irrespective of the time of day.

 

[kriesau]

I agree - the Dax is already 11 pts off their post NY opening high.

 

[kriesau]

I could be wrong but this market doesn't look too happy to me

Bouncing off 10380. Only 6 fallers at this stage - none significant.
It's a bit strange - would have thought that the NFP figures would have sparked a bigger rally. If it can't punch through 10420 then I'll be looking for a retracement to 10300 buy this might not come until next week.

 

[senyorqueso]

kriesau - thanks - i meant for day trades. seems sensible from my observations so far.

 

[Racer]

A lot of sellers just under the 10400, has had several attempts to break, would have expected it to have pushed through by now if they were really bullish.
But think they have been waiting till about 15:30 to 14:00 lately before really moving

 

[kriesau]

The only other economic data due today is March consumer credit figures at 8.00pm.
No Dow companies reporting today.

 

[Slapshot]

I could be wrong but this market doesn't look too happy to me

Are you upsetting it again Racer??

 

[Racer]

Oil over $52 now

 

[Racer]

Dow critical move now? conclusion of direction

 

[User]

Hi all, I've just been out all day.....

Got in now......kept the shorts open from yesterday .....

We're hanging on at the moment as clearly 10400 is showing major problems.........

Truely anythings possible at the moment but the chart suggests a sell-off to start soon......

Goodluck

 

[kriesau]

Some big risers today - Boeing, Caterpillar, Disney, GM & Honeywell. Only 6 fallers and the only major one is Big Mac. Can't see what could move it down at the moment.

 

[rider]

triangle breakout

 

[kriesau]

Oil is up a dollar and is now 3 dollars above its Wednesday low. That hasen't spooked the market either.