Where is the Dow & others heading in 2005?

[FetteredChinos]

gonna go sideways until the early pop on monday....


zzzzzz

 

[justyn]

I'm still saying down Tradesmart.

Quite often Tick shows you the way before the price moves.

An hour long diagonal trend line has broken as per the chart so I'm staying short. If we break above 32 I'm out.

Edit: Of course now it is lunchtime it could be a slow drift!

 

[lemput]

ticks- silly question- this is the upticks over a timeframe minus all the downticks right?

where do you get the tick data from? I can't seem to find a feed for that.

thanks

 

[justyn]

Lemput, I am referring to the NYSE TICK (1 min chart)

I use Sierra Chart with IB data feed. The symbol is TICK-NYSE-I-NYSE I don't know about other charting packages.

HTH

 

[counter_violent]

Justin , how long b 4 it normally delivers ?

 

[justyn]

Very quickly usually. We did get a push down to under 820 then it died out.

Problem is it is lunchtime and quite often you get a very tight range for a couple of hours.

Oil is up to $54.35, maybe if it creeps up we will see some selling later on.

As I said earlier, I am happy to stay short. My stop is at 40 (March futs) so if 32 breaks to the upside I'm out for a small profit.

Justyn.

 

[justyn]

.. and stopped out as 32 broke. Never mind

 

[frugi]

Justyn,

We've switched to June now in case u didn't realise, although Mar still trades on tiny volume for another week, I think.

 

[tradesmart]

Just taking a scan across the charts (as yer do....... :cheesy: )

INTC seems to have found support at c.$24.40 after an initial burst of selling the good news, and the Naz is following suit at c.2048..

But the weakening dollar as a result of the yawning trade gap tends to inflate commodities and suppress equities...

You've noticed.....?.........

We've switched to June now in case u didn't realise, although Mar still trades on tiny volume for another week

I think that you'll find that the prices still move pro-rata, but the lack of volume on March is confusing and the chart tends to be a bit gappy.......

 

[justyn]

Yes, thanks Frugi.

 

[frugi]

Bad luck on the stop out J I hate it when the market stops one out and then immediately reverses.

I win today's small lucky s*d prize and am stopping now cause I know luck has a habit of turning

 

[justyn]

Never mind hey? I bet it sinks to 780 now. I'm going to pack up for the weekend anyway.

 

[counter_violent]

Well !!! something has to give or i'm in danger of collecting Ten points in the Dow comp

Ten more than the trading so far

 

[RUDEBOY]

Peterpr, fair point, and i am interested in what you are saying, but i'm not a global economics expert, even if what you are saying should be well understood. I'm not giving you the cold shoulder, like i say i really don't know.

 

[User]

I think we might see a funny little rally near the end of the session. If I see the chart so far I would say its going to pop through 10800 but that just looks so blatent that i doubt it will happen.

Should be interesting to see what develops of the remaining session though.

 

[kriesau]

I think we might see a funny little rally near the end of the session. If I see the chart so far I would say its going to pop through 10800 but that just looks so blatent that i doubt it will happen.

Should be interesting to see what develops of the remaining session though.

Dow just dropped 25 pts in 3 minutes.

 

[justyn]

Looks like I was right after all .. should have allowed a bit more breathing space on that stop for the pullback.

 

[User]

So the blatent stuff occured! Oh well. This thing seems like its not interested with 11,000 and seems like 10600 maybe on the cards.

Currently holding at 10800. That should fold aswell!

 

[roguetrader]

Volume light on both markets if it continues at this level will be the lightest of the week,

 

[kriesau]

Less tha 2 hours to make some readies for the weekend. Where is it heading - 820 or 780 ???