Where is the Dow & others heading in 2005?

[roguetrader]

gm down 8% justyn, should really hold the dow back, especially if these figures this avo, are not up to scratch

That's enough to drop the cash DOW about 27.5 points I think.

 

[User]

Futures showing interesting stuff. I looked at them when they were near the highs. Went away came back and saw them and they near 10700.


Lets see how it unfolds.

 

[tradesmart]

A good opportunity to get in long then?

could be a 30 point gap at the open, so will be watching for a fill opportunity (as yer do.. )

Naz futs are holding up for now.....

 

[lemput]

that s&p trendline since january might actually be breached. i think if we close where futures are pointing or lower then we may be heading to a new range... just being hopeful.

 

[counter_violent]

could be a 30 point gap at the open, so will be watching for a fill opportunity (as yer do.. )

Gap and go !!! the game's up...... short at will

 

[User]

Futures are taking a real tumble, down about 70.

 

[lemput]

make it a 60 point gap!

 

[FetteredChinos]

looks like we could get that 10500 today as i postulated last week.

didnt think it would occur pretty much in a straight line from friday before last though.. was expecting a pop above 11,000....

now you see what happens when you get greedy waiting for entry points...

 

[roguetrader]

DIA the DOW tracking stock is pricing in a 60-70 point opening gap on INDU

 

[justyn]

Gaps often get filled .... watch this space!

(excuse the pun)

 

[lemput]

fetttered, if we get 10,500 today i'm retiring. i will be more than happy with a nice 145 point decline, sitting on 10600 at the close. we will probably rally from here though. sods law,

 

[tradesmart]

as i postulated last week

Thought for today.......

Trade, don't postulate...............

(And anyway, I've heard it can affect your eyesight......)

 

[jonnyy40]

Just closed my SB account.

 

[User]

Why you close it? You retiring?

This threads so busy today! So is the markets and they aint even open yet! Oil, Dollar, deficits, earnings! All this commotion!

 

[justyn]

Why you close it? You retiring?

Maybe he was long???

 

[User]

Maybe he was short?

 

[tradesmart]

Just closed my SB account

That'll save you some dosh......

They've taken the price down to 680ish which is about the 50% fib retrace support..

But will it support.....?........

 

[User]

The Dow should hit 9750 which is near the Dow lows of 2004.

That was the original prediction that I stated in this thread and it seems very likely to occur this year. The 11,000 scenario seems to be over. However please don't feel that we will travel in straight lines from here I still feel the markets will push higher from 10700 or 10600 as I believe they will create this illusion once again that things are great when their not. At some point we should see some furious moves down this year and I'm not talking about the moves down we've had from 10900 area.

Anyway key eye on 10700 today in terms of close price and then next target 10600 which is also a key area of support.

Good luck

Oil should also move the markets in some manner today.

Oh I also firmly believe that the lows that we saw in Oct 02 are to be tested once again and then beyond that we will be heading lower then Oct 02 lows. Anyway enough of my bearish LONG term outlook. Back to whats happening today................

 

[lemput]

you short yet user..... join us!

 

[User]

Don't think I'm a bull!

I'm a long term bear. I'm just sleeping at the moment. I'll join in soon and then we'll all have fun. For the time being this market does have a little bit of upside left. I know it sounds funny because as I'm saying it as the Dow is heading lower but it should have once bounce left in it. No doubt. Just be ready to pounce with the bounce or should I say be ready to drop with the pop.

Basically just start looking at the charts with caution on the upside and more rewards on the downside. Bear market is about to begin and it should last for the next 5 years.


Good Luck lemput.