Where is the Dow & others heading in 2005?

[User]

Tomorrow could be very interesting indeed.

Indeed. I missed todays session as I was out. Got stoped out of my long early in the day.

We had a great bounce on Tuesday and today the market well tumbled and this is quite bearish as we gave bak all of yesterdays gains and more! However 10700 still seems likely and many traders are suggesting 10000 to be likely after todays session.

One thing we can still take from todays session and that is: We closed above major support again.

So yes tomorrow could be very interesting indeed. We at sitting at a major area. A move in either direction from here should yield a good move. 10365-10400 support for tomorrow.

Once again we are at a serious stage for the next big move! A downside move from here could see a 500 point move and this could set the trend for the longer term which we could then call a bear market. If we break to the upside then 10700 would seem like a suitable target and that would put us in reach of the highs for the year.

Interesting days ahead.

Good Luck

 

[User]

WOW! The VIX index moved higher a massive 17.79%! A huge move higher after the Dow fell 100 odd points. Thats may well give some room for the upside or could we finally prop the VIX to high levels and at the same time break this support to lead the Dow lower!

Very intresting stuff.

 

[kriesau]

Feel free to post your EW charts for the Dow with the features you refer to or expect to see – I’m sure everyone will be interested……

And if you want to ask Charlie Miller about his EW analysis, his email address is [email protected] and anyone who wants to get on his free indices newletter distribution list can request an email copy from the same address – Charlie makes some great calls, predicting the ’04 10750 top when it was in the 8000’s...!

............................................................................................................................................................................

Who is Charlie Miller ? Does he have a website ?

 

[tradesmart]

Who is Charlie Miller ? Does he have a website ?

Charlie is a US markets analyst located in the boondocks of Maine and he regularly produces a very educational and entertaining emailed indices newsletter with charts/commentary that have proved to be highly predictive.......

for example, after the major 170 point upsurge on Tuesday he said:-

CAUTION - Don't be tempted to jump to the conclusion that this is the beginning of the major upthrusts, predicted by yesterday's analysis. Although it may be, that will be proven by several days of trading up that final green line. For today, I see this strongly as the work of the Fast-Hand Hedgies, first crashing the markets, then pumping them. I believe that they are sold out, and the logical ploy tomorrow will be to again push the markets downward.

Accurate or what....?

An email request to Charlie at the address above could get you on his newsletter mailing list - no website that I know of.....

 

[Pat494]

Resistance=10529
Support=10317
Pivot=10442
good luck

 

[Racer]

dow 200d exp ma at 10438
simple 200 ma at 10380
now broken both

 

[Racer]

Very feeble attempt today to go up at open

 

[User]

Its looking weak but then Tuesday was a dodgy session. Caution is warranted as anything can happen !

 

[Racer]

Coming back up very slowly to test the 200d from below, now if fails then on the way down a lot.
Might dither and have a bul/bear fight across the line for a while

 

[User]

Coming back up very slowly to test the 200d from below, now if fails then on the way down a lot.

Its going to get really messy!

Either way we will get a clear direction at the end of it!

 

[roguetrader]

Its going to get really messy!

Either way we will get a clear direction at the end of it!

May be possible that we just chop around here until after option expiry tomorrow.

 

[chump]

Just a thought,but to determine direction would you see a correlation between a defensive stock like JNJ going to an alltime high as a sign that large money thinks there are 'bad' times ahead ?

 

[kriesau]

Been ranging betweem 103440 and 10380 for two hours now. Have two shorts in above 10400 and got stopped out on a third speculative short at 10340. It's got to break one way or the other soon - hopefully down.

 

[Racer]

initial target of 10000 now opened up with next potential at 9800

 

[User]

Still best to wait until 21.00 GMT for confirmation as we could still see a close above the years lows.

 

[Racer]

I am just moving my stops down, will give it a bit of breathing room though

 

[trendie]

initial target of 10000 now opened up with next potential at 9800

Racer,

how do you arrive at that?
did you take the last high of around 11,000 to current "pause" at around 10,400 = 600 points.
then, the pause is "usually" half way from the full move.
thus, 10,400 - 600 = 9800.

is this the way? (or something else)

 

[Racer]

ROFL just look at that.. touch 10300 and thought, hmm round number.. whoa, stop here.. got to have a think first....

 

[Racer]

Yes trendie, that is the way I saw the pattern, but some hesitations at various round numbers and at trend line of 10200

 

[Racer]

Oh if you look at the NasdaqC you will see that pattern has already formed