Where is the Dow & others heading in 2005?

lol. actually there is a reason..

600 points from the recent high..

1 months average range..

we hit that a couple of weeks back, so i would be expecting us to dip to this region (roughly) within the next week or so. today could well be the catalyst (as good a reason as any) for a capitulation.

also, on a weekly pattern (jenkins' etc) we could be looking at 10,220 which isnt beyond the realms of possibility. ( just the other side of Friday's close)


just my 2 cents..
 
Hmmmm.
Going to disagree with you on this one FC.

Weekly chart - yes I can see 10,250 possibly by the end of the week, but not 10,050.

Today I would still say we are heading south, but the 10,330 range is where IMHO we will be heading today.
 
also, on a weekly pattern (jenkins' etc) we could be looking at 10,220 which isnt beyond the realms of possibility.
Click to expand...
That's an interesting target as I also have that as a possible bounce point, from the April up trendline (ohlc)
 
i did say that 10,050 is a slightly longer term target than this week. but i would have thought the chances by the end of next week are pretty high.

rogue.. i hadnt even noticed that.. i was simply working on deviations from friday's close! funny how these things tend to tie up...
 
rogue.. i hadnt even noticed that.. i was simply working on deviations from friday's close! funny how these things tend to tie up...
Click to expand...
Very true, that's why i like to see poeple post with different methods of analysing, sometimes these type of correlations can provide very strong levels, sometimes :eek:
 
Interestingly the 10,050 level does tie in with the first attempt to selloff after the bounce off the lows, I just think with the long weekend looming it would be a little ambitious for this week. I think most of the weeks business will be taken care of in a fast and furious post Fed 2 hrs.
 
Oil now below $57 and Gold below $438.
Could be an upward movement today to retest 10450 before any resumption of a downtrend.
 
roguetrader said:
Interestingly the 10,050 level does tie in with the first attempt to selloff after the bounce off the lows, I just think with the long weekend looming it would be a little ambitious for this week. I think most of the weeks business will be taken care of in a fast and furious post Fed 2 hrs.
Click to expand...

I think you are correct. The last 1hr 45mins is going to be manic. With not only FOMC wording, but also, being the last day of the quarter to worry about, volatility could be very high. Many of the fund managers will be trying to position their portfolios in the best possible light before revealing their end of quarter holdings.

It looks like energy stocks will be the main beneficiary of this (XOM).

I always sit out the FOMC decision and wait for the dust to settle. If there is a significant bounce, then it will more than likely be reveresed next week.
 
Still looks to me like we are still heading up toward Dow 11,000, maybe another top, or at least close to recent top around 10,900 - think we will head down later in the year of maybe next year when all the shorts are exhausted.
 
JillyB said:
South I think too, however not down to 10,250.

I think we could see it down as far as 10,330 range (especially with S1 being around this range) and would expect a bounce from here. If so we could be looking at a 1-2-3 formation and the index heading north from this point.

We shall wait and see :cool:
Click to expand...

What is a 1-2-3 formation?
 
on the sauce again Racer?

seriously though. i defy anyone to come forward and honestly state that they have never buggered up an order or two in their trading life...
 
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