Where is the Dow & others heading in 2005?

[kriesau]

Great outfit, good album. I think he was also a great contributor on the Dark Side of The Moon album too.

Alan Parsons was the innovative recording engineer on Dark Side, at Abbey Rd Studios.

APP released 14 albums over 25 years - creative zenith was late 70's to late 80's with Vulture Culture (their best album), Eye In The Sky, Ammonia Avenue, Pyramid and Gaudi.

 

[roguetrader]

Was it a down session the last time Intel released good earnings?

Sorry Joules, can't actually remember what the effect of their last mid-quarter report was, only that such reports have on occaision had an impact.

 

[Matt321]

I notice on the daily chart since 19th May a broadening triangle(Megaphone type) has developed,where the top part of the range becomes higher and higher.Quite often these shapes suddenly collapse once below the base line the volume goes through the roof.The other thing is while in this consolidation every 3rd day is a tight range/ low volatility but monday it happened on the 2nd day so maybe a new phase.The point is the following 2 days are high volatility which takes it to one of the edges of the trading range= yesterday and today.So today a probability of a high 10550/60 or if it broadens the shape, maybe 10575. Just a few thoughts to keep the interest going and these will probably be irrelevant by nightfall.

 

[FetteredChinos]

Sorry Joules, can't actually remember what the effect of their last mid-quarter report was, only that such reports have on occaision had an impact.

IIRC we gapped down quite heavily on that day.. i cant remember if we followed through to the close though

was it the -174 day we had? i think it may have been..

 

[roguetrader]

Hi RT,

Could you clarify what you mean by "internals were bullish" please ? What are the internals ?

TIA

Regards,

Ivor

Hi Ivorm
The market internals I refer to are advancing issues relative to declining issues and volume breadth in the form of advancing volume relative to declining volume. The figures are used to determine whether a move is broad based or not.

 

[ivorm]

Hi Ivorm
The market internals I refer to are advancing issues relative to declining issues and volume breadth in the form of advancing volume relative to declining volume. The figures are used to determine whether a move is broad based or not.

Thanks RT. I see what you mean now. Thanks for taking the time to reply.

Regards,

Ivor

 

[kriesau]

Hi Ivorm
The market internals I refer to are advancing issues relative to declining issues and volume breadth in the form of advancing volume relative to declining volume. The figures are used to determine whether a move is broad based or not.

RT - where do you obtain your live real time data on these internals ?

 

[roguetrader]

RT - where do you obtain your live real time data on these internals ?

Kris
I use eSignal for all such market data. For raw figures on advancing / declining issues, and up / down volume I think they can be found on one of the yahoo finance pages throughout the day.

 

[gmca686]

Roguetrader,
Is it necessary to look at the internals make up as you described, or can one come to the same analysis conclusion by observing the TRIN ??
regards, G McA

 

[LION63]

DOW currently being quoted 51 points above yesterday's close. It might well be that traders view the Texas Instruments update (after hours) and the falling oil price (now at $53.76) as reasons to fill their boots and start a Summer rally.

 

[roguetrader]

Roguetrader,
Is it necessary to look at the internals make up as you described, or can one come to the same analysis conclusion by observing the TRIN ??
regards, G McA

G McA,
As you no doubt know by asking that question the TRIN is a composite of all of those figures. for the benefit of anyone who does not know the TRIN or (Arms index) is calculated as follows

(advancing issues / declining issues)
-----------------------------------------------------
(advancing volume / declining volume)

As it is a composite it is slower to react to what is going on in the market. I personally find it useful to watch the components

 

[kriesau]

Kris
I use eSignal for all such market data. For raw figures on advancing / declining issues, and up / down volume I think they can be found on one of the yahoo finance pages throughout the day.

Cheers RT

 

[kriesau]

*Oil back down to $53.13.
*Dow Cash Futures up 45pts
*Will good earnings from TI be followed by Intel !
*Weekly inventories report at 10.00 expected to show 0.4% increase in line with March
*No other relevant news due out today.
*Day 12 in the current 10400 - 10600 range.

Another consolidation day or breakout !!!

 

[JillyB]

CMC pre open Dow at 10530.

Could well see another test of 10570-580. Would like to see it finish near this level today, or even a new high made for this consoliation period.

Last night I saw a lot of 'bearish' comments posted. Well, I'm still staying with the bulls and think the breakout, when it comes, will be upward. :cheesy:

I'm sure you will all remind me of this post, if the index tanks on Friday and breaks support at 10420.

 

[kriesau]

April wholesale inventories up 0.8% - double March and the forecast April increase !

 

[JillyB]

DOE U.S Crude Oil Inventories: Prior 1488K, Survey -250k, Actual - 3094k

DOE U.S. Gasolinel Inventories: Prior 1304k, Survey 1100k, Actual -31k

DOE U.S. Distillate Inventories; Prior 783k, Survey 1275k, Actual 1291k

Posted by CMC as Important Message!

 

[Matt321]

God the lizards are out again,does anyone know what the term "cloaking your stops" means,I think it some means of putting a stop on so you can't be detected.I read this in one of those chicago seminar adverts for would guerilla traders.When the pit traders come gunning for their stops "they scatter like lizards and hide in the rocks using a cloaking strategy to protect themselves"

 

[FetteredChinos]

what stops?

we're gonna hit 10,390 on thursday...

 

[FetteredChinos]

and for clarification why i think 10,390..

daily range from friday's close.. so far it looks like confirming one of my standard 3-day cycle patterns.

however, if we break yesterday's high, then the 390 may come on friday.

im taking the opposite side of socco, and reckon we're gonna close lower this week....

 

[SOCRATES]

I have looked in my crystal ball and it doesn't look like it.
Wild market though, on the way there.
At this moment the cash is up 38.13 at 10521.20