Where is the Dow & others heading in 2005?

[jonnyy40]

Anyone using the MACD/Stoch combo to trade?

 

[haleh]

Anyone using the MACD/Stoch combo to trade?

i use MACD(12 14 5), Stoch slow & RSI (7).

 

[justyn]

The 10 min chart of the Dow is showing what appears to be a triangle with a mouth of 100 or 200 points depending on how you see it.

Any news due today that could light the fuse?

 

[aspex]

Great! Nasdaq futures have wiped out yesterday's gain.
Question is whether this is indicative of the real market at opening???

 

[kriesau]

The 10 min chart of the Dow is showing what appears to be a triangle with a mouth of 100 or 200 points depending on how you see it.

Any news due today that could light the fuse?

No major economic news due and no Dow companies reporting. The only relevant stats today that might have some influence are the ICSC-UBS Store Sales and the Redbook (chain & dept store sales) which are both due before the market opens. Nymex Oil prices were up around 60c at 5.30EST this morning. A quiet day for both market and company data.

 

[Slapshot]

Futs currently down 26pts

 

[mofo]

Come on guys, where do we go from here. DAX down, ftse down, futures down, yet that triangle...............

Are we still headed north for a while?

 

[Racer]

Regulators probe AIG officials beyond Greenberg

NEW YORK (AFX) -- Knowledge of and participation in questionable 'top level' accounting adjustments at American International Group Inc. may extend beyond former Chief Executive Maurice R. 'Hank' Greenberg and former Chief Financial Officer Howard I. Smith, the Wall Street Journal said Tuesday.

The Journal cited people familiar with the probes in the report.

Authorities believe the extensive nature of the problems may make it less likely that a tiny number of departed executives were solely responsible, the Journal said.

 

[kriesau]

Come on guys, where do we go from here. DAX down, ftse down, futures down, yet that triangle...............

Are we still headed north for a while?

Charlie said this morning:
"We had a full hour of strong buying at the close yesterday but who could trust it since it looked like another head fake. Remember we are now at what may be the peak of the right shoulder of significant H & S formations for the Dow and the COMPEX"

 

[FetteredChinos]

would look for 270-250 for a long judging by the current see-sawing..

just my 2c though.. it could well capitulate on the break of that triangle though..

 

[mofo]

Charlie said this morning:
"We had a full hour of strong buying at the close yesterday but who could trust it since it looked like another head fake. Remember we are now at what may be the peak of the right shoulder of significant H & S formations for the Dow and the COMPEX"

perrrrrrrrrlease dont tell me i've talked myself out of the May 9 turn i was looking at a while ago

 

[kriesau]

Oil ppices may figure today. Qatars Oil Minister said this morning
"OPEC is at its highest production in history. I am concerned about that. If we reach full capacity now we will tighten in the 4th qtr. The spare capacity will get smaller and smaller, reaching a plateau where there is no more oil"

Nymex crude was up 0.5% this morning at $52.28.

 

[FetteredChinos]

perrrrrrrrrlease dont tell me i've talked myself out of the May 9 turn i was looking at a while ago

wasnt me guv..

was that as per the ,ahem, Market Map, we came up with?

where were you counting the swing low from? october 02? march 03? or more recent?

FC

 

[Slapshot]

Will be interested to see the reaction from what looks like a 40pt fall at the open. Will it bounce or will it continue to fall......

 

[mofo]

wasnt me guv..

was that as per the ,ahem, Market Map, we came up with?

where were you counting the swing low from? october 02? march 03? or more recent?

FC

Yes that Map thing, rightly or wrongly i was looking from the high in march to the most recent low in April & extending out. As i said tho eod indicators still north with one exception, so lets see if we can bounce

 

[FetteredChinos]

hmm. gap and run today? might get a pullback to the 60s from which i might well add to my short..

FC

 

[Racer]

LONDON (MarketWatch) -- The benchmark crude-oil contract held above $52/barrel in early trading Tuesday.

June-dated light crude contracts rose 25 cents to $52.28 a barrel.

Qatar's oil minister, Abdullah Hamad al-Attiyah, raised concerns over the Organization of Petroleum Exporting Countries' capacity to deal with demand for the next winter.

"OPEC is at its highest production in history. I am concerned about that. If we reach the full capacity now, we will tighten in the fourth quarter,'" al-Attiyah said, according to Dow Jones Newswires. "The spare capacity will be smaller and smaller, reaching a plateau when there is no more oil.'"

Oil above $52

 

[User]

Long at 10340 - 10317.

Looking for a retest to 10400.....should come back.....support 10300-20

 

[FetteredChinos]

brave of you.

triangle has been broken to the downside..

 

[kriesau]

Long at 10340 - 10317.

Looking for a retest to 10400.....should come back.....support 10300-20

Only GM and Boeing in positive territory at the moment.
Big decliners Home Depot, Walmart, HP, JPM, Citigroup, 3M, Alcoa, AIG, Honeywell and Coke.