Where is the Dow & others heading in 2005?

[RUDEBOY]

ANYWAY...What about the DJ today?

 

[roguetrader]

Turned out nice again Some life showing in the SOX and Nasdaq

 

[RUDEBOY]

RT, dont rely on those bleedin' tech stocks!

 

[RUDEBOY]

They've been as flat as a witches tit this year!

 

[wwatson1]

Could all be clearer in a few more trading sessions. Seems like we are hovering around a significant support level. :|

Anyone see anything different?

 

[TheBramble]

Teach me to take some time away...post explosion!!!

And some really good discussions going on. Socco being quite open (or as open as he can) about things and nobody has yet pressed him on 'intent'.

For those that are fixated on 'Time' being constant - bear in mind Time is only a theoretical concept - a useful one, but not 'reality'. Divisions of second, minute, hour, day etc are conventions. And quite arbitrary.

Your timeframe of choice is an arbitrary selection or slice of 'reality'.

Volume is an approximation to activity - either managed, real or reported - to that arbitrary timeslice selected.

We are all basically setting our own rules and creating our own Trading Universes - which is fine. But expecting anyone else's Universe to make sense in yours, or mine - is pushing the bounds of reason.

The fact that we can (at times) sensibly discuss what 'means' what and what 'causes' what gives the impression we are all talking about the same thing. I have a growing conviction these moments of concurrence are more accidental than representations of genuine reality - whatever that might be.

What the hell did I put on my Cornflakes this morning.....

 

[Salty Gibbon]

What the hell did I put on my Cornflakes this morning.

Powdered magic mushrooms by the sound of it.

 

[twiggytwo]

Hi all,
my view is , if the Dow can close today above 10,565 then we will have a bull trend start point.
this is not trading advice, just my view .
regards to all on this thread

 

[mpjordan]

Bramble, you must be traders anwser to stephen hawking, certainly are raising the tone of this thread.
in your universe is the dow going up or down today? : )
mj

 

[Pat494]

I am unreliably assured that the
resistance = 10613
support = 10457
pivot = 10523

 

[TheBramble]

Bramble, you must be traders anwser to stephen hawking, certainly are raising the tone of this thread.

Thanks, but debatable (not here though!)

in your universe is the dow going up or down today? : )

An one who has recently taken The Oath - I may not make such pronouncements, but I see no reason to disown my previous position.

In truth - I have no more 'certainty' about the future than anyone else. I may or may not have a more 'probable' view. Who knows. The Market will inform us in its own good time...

 

[peterpr]

My view is there is likely to be more tradeable upside than downside today. Futures are flat and just nudging the mid-point between daily pivot and 1st resistance - so a slight upside bias right now but nothing to get excited about.

AG is speaking to the Fed's Community Affairs Research Conference, in Washington at 5:30pm UK time so expect a bit of volatility around that

As to where it will close. Absolutely no idea.

 

[jonnyy40]

Where did you find out Greenspan was talking,Peter?

 

[tradesmart]

Thanks to the pullback in oil prices, the index has traded straight up to within a few points of the expanding triangle resistance level, so the immediate question is – will it blow straight through or consolidate at the highs digesting the implications of another burst of bullishness….?……I suspect the latter but I’m often surprised…..

I still suspect that the ultimate target is to fill the gap to 10780 (750 cash) The ex- triangle height at 200 confirms this target, and the gap is nicely straddling the 61.8% fib retracement level…..

Things looked in doubt early yesterday with oil holding up above $56/b but then it dropped to sub $54/b completely changing the outlook….

What will it do today….?

Now the IMF are at it……

China's growing thirst for petroleum, tight supplies and little spare production capacity will keep oil prices volatile through 2030, with the possibility of spikes as high as $100 a barrel, the International Monetary Fund said Thursday.

Perhaps they’re long on oil as well; either that or they invest through Goldman Sachs…..

 

[peterpr]

Where did you find out Greenspan was talking,Peter?

ESignal economic calender

 

[jonnyy40]

Thanks

 

[User]

Holding above 10500 nicely for now!

We could test that 10550 region again from here.

I have been looking at the current situation and I believe 10600 is the top for this bounce we've seen from 10350-400 region. Some of you may have looked at the VIX index and that has fallen significantly and all we've done is rally 150points odd.

10600 is the top and a great place to short although I may consider shorting at 10550 and 10500 region. We'll take a closer look at the details over the weekend.

This rally is weak in the sense that you can't really call it a rally. I would only call it a bounce of support and then we should see the downward action continue which should see us take out 10400 and should take us lower.

At this moment in time though we could touch 10550 and much would depend on how we react to that level.

 

[tradesmart]

10600 is the top and a great place to short

Is the top....? - I think that any preconceptions could be expensive at the mo'....

Having said that, I'm short from 565 futs today, but with a tight trailing stop...

Good luck.....

 

[counter_violent]

Nice looking drop below 500... but where will it stop today ...470,450,425......answers on a postcard

 

[tradesmart]

but where will it stop today ..

No easy answer to that one, I can only suggest that the range is dictated by S/R relative to the expanding triangle between 360/560 (cash) and a break from this range north or south will give a potential 200 point target in the direction of the break......

I note that the Euro and sterling have rallied against the $, and of course this is pulling oil up a bit.......

Volatile times we live in.......

The whole speculation is just another widget for traders to bollox on about.

Yeh, bollicks