Where is the Dow & others heading in 2005?

The 61.8% Fibonacci retracement from the previous fall (March - mid April) is around the 10608 level. Will this act as a level of support as well?
 
JillyB said:
The 61.8% Fibonacci retracement from the previous fall (March - mid April) is around the 10608 level. Will this act as a level of support as well?

Prior resistance often acts as support, yes, more importantly the whole consolidation range should act as support once the break is confirmed.
 
Does anyone know if there is a longer time between 9PM and before the Dow closes today because I remember previously this happened and I am not sure if it was triple-witching or something else?
 
counter_violent said:
OH happy day ........W P Twiggy.......and next week .........wait and see !!!

Now lets just see if Soc stands by the bull market.....


Hi counter v,
Yes it is happy days, I closed my two (futures ) Buy positions on the Dow today. One with 154 points and one with 94 points. We may yet share the Dow contest prize with Bluewave.
Take care as the Dow has been up 7 days, if we close tonight above 10,578
7 days up means a small retracement ( one day down )soon before it moves higher.
Best Regards to all
 
Joules MM1 said:
Gggrrrrhhhh....

About to have a snack....pink salmon fresh from the stream anybody? Hooked it myself..."my, what nice claws you have.." :devilish:

Pa git yur gun them dang bears a fixin to stir agin
 
Testing point as we head to the last hour, internals starting to show similar weakness as yesterday, question is will they reverse and head higher like yesterday or continue to break?
 
Now is a time to be extremely careful but not a chronic bear.
Agreed completely.
Currently it's having problems at 10640, it's far from strongly bullish but a long way from bear territory - 10600 supported it earlier in the day and about 10590 draws across a decently long row of EoD tops, so I'd look for support at 10590-10600. If it goes much below 10620 it'll violate a short term uptrend line drawn acroos the last couple of days intraday chart.

EoD it's a small peek above the top of the consolidation - not unusual for such as this to drop back down again, so if it passes 10600 south I'll be looking for a short and more rangebound swings. Not looking much like a 'bulls go nuts' breakout, I really wouldn't be surprised to see this rangebound again. (Which would be nice.... )

Dave
 
twiggytwo said:
Hi counter v,
Yes it is happy days, I closed my two (futures ) Buy positions on the Dow today. One with 154 points and one with 94 points. We may yet share the Dow contest prize with Bluewave.
Take care as the Dow has been up 7 days, if we close tonight above 10,578
7 days up means a small retracement ( one day down )soon before it moves higher.
Best Regards to all

Very well played Twiggy......It teased us right up until the death :D

Good Trading

C V
 
counter_violent said:
Very well played Twiggy......It teased us right up until the death :D

Good Trading, C V

Well done TwiggyTwo... not quite enough downward movement to land in the "SAME" range. Anyway, even if you had finished with 15 you would have won having joined T2W earlier than me :|
 
roguetrader said:
Testing point as we head to the last hour, internals starting to show similar weakness as yesterday, question is will they reverse and head higher like yesterday or continue to break?

Funny how expiration last part of trading and just after the dot it started to fall...

A look at some earnings next week, should be an interesting week, can the bulls stampede on every increasing oil prices? Oh but they are getting their fuel economy up to 20mpg so wow!! Efficient engines.. and some even go to 30 mpg!!

I wouldn't be happy if my 4.4L V8 did 20mpg at the rate the UK tax it that's for sure
 
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