Where's the DOW heading today?

[leong]

Any ideas? :)

[Joe Blow]

It is black Friday after all!

Yesterday's Dow Jones intraday chart didn't look too promising.

My money is on down, but don't quote me on that.

D'oh! Too late! :D

[leong]

TY Joe

But wont the consumer sentiment report decide ?

[DTM]

The last three days it has dropped over 200 points with a pause yesterday. I expect it to hit 10,000 soon.

:2twocents

[bvbfan]

2004 was a year to buy the dips but now maybe is a time to sell the spikes on the US markets
Its certainly been easier to pick lately from my data, indicators etc

[leong]

On what basis do u say that. The economy is strong and inflation is in check. Why would it drop?

regards
Leon

[DTM]

It's been dropping for the last month and a half and looking at the charts, still has a lot further to go. I'm thinking that it will break below the 10,000 mark soon. Maybe by next week.

:2twocents

[Smurf1976]

Medium term (12+ months) I think the Dow is headed down. Short term I'm expecting a modest rise over the next two weeks IN THE ASX. The Dow may not be coming along for the ride judging by the way it's going. Very short term I think up tonight for the Dow but then I don't trade over that short a time frame so haven't put too much effort into that prediction. :goodnight

[bvbfan]

You actually believe the inflation figures!

Who are the people financing the US deficit, what has been suggested will happen in the near future with their exchange rate
And what impact will that have on their holdings?
Will the still be happy to lose money year on year?

Don't you think the tax cuts to the rich have driven some of the earnings there?

I would like to see the earnings of the companies that do most of their business in the US and not a lot overseas, versus the big internationals
I suspect a lot of the overseas co's. have been able to compete because of the lower dollar, if it strengthens against most of the major currencies I suspect earnings will dive

But my major issue is the still high valuations using current earnings NOT projected earnings which all the bulls will use to say the market is undervalued
If you look at historical valuations we are well on the high side

There's also the leverage of the major finance houses in the derivatives market
LTCM failed with leverage about 30 to 1, some these funds were running levearge to assets in the 40 to 1 range, while leverage to equity was over 600 to 1.

I wouldn't be surprized to see the DOW finish the year well under 10000
But we'll see what happens

Anyway here is a one year chart of the DJI
sorry you'll have to cut and paste into browser the hyperlink function doesn't like it
http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$indu,uu[w,a]dacayyay[dd][pb50!b200!f][vc60][iut!lb14!lh14,3]&r=5754]

[leong]

There is no evidence that inflation is running rampant. One minute the market is concerned about the economy slowing and no sooner do u get a great result eg the new job figures of 274,000 then they talk about inflationary pressures. It seems that there is not a great deal that makes the market happy. I think the market is being driven by speculators and spread betters. I mean whats with the fed amendment right before the close claiming inflation was "contained". That amendment just before the close changed the entire day. I am surprised that there was no investigation. I thought it was very sus.

happy trading

[Aussiejeff]

Well, over the year it doesnt look all that bad ATM.... especially the steady but significant volume increase

AJ

[tech/a]

Ranging between 10 and 11000.

Directionless. Some up some down.
Really a matter of finding gems or working with the range.

[MARKETWAVES]

DIRECTIONLESS ?

Here is a technical view of the Dow ,
and what its been up to ..............YOU BE THE JUDGE !
---------------------------------------------------------------------

1ST THE SELL OFF IN APRIL....

PRICE IS NOW CONTAINED ,
IN THIS SIMPLE RISING CHANNEL FORMATION

----------------------------------------------------------

NEXT THING YOU KNOW
a ( 3 wht soldier candlestick pattern ) has formed .....

HMMMM , What next ? CAN THIS HOLD ?

STAY TUNED ...............
-----------------------------------------------------------------------
TRADE AT YOUR OWN RISK… The purpose of these charts is to point out significant highs and lows based on Fibonacci Retracement lines and Elliott Waves which are highly subjective . This information is for educational purposes and should not be considered trading recommendations . All trading decisions are your own sole responsibility …

[MARKETWAVES]

PG-2..........

[MARKETWAVES]

PG-3..............

[MARKETWAVES]

PG-4..................

3 WHT SOLDIERS HOLDING AS SUPPORT ................

[happytrader]

Tightly contracted bollingers on weekly and monthly charts suggests pressure is building and that a breakout from consolidation is on the horizon. This months price action suggests a strong bias to the upside. The 'expected' Santa Claus rally is likely to support this view.

As usual this is merely my opinion and just like everyone else I'm guessing.

Cheers
Happytrader

[Wysiwyg]

No comments on the new DOW lows in?No final capitulation due to panicked and inexperienced investors?

7000 points out of the question?

[MR.]

6% fall????????

[electronicmaster]

Whatever the protection team allows it fall too :mad:

[theasxgorilla]

No comments on the new DOW lows in?No final capitulation due to panicked and inexperienced investors?

7000 points out of the question?

If the S&P500 breaks its lows I'll be more concerned...and at the same time relieved...since I'd have little faith in a recovery from here.

The DJIA is still the muppet index :)

[Aussiejeff]

Whatever the protection team allows it fall too :mad:

Looks like they must have stepped in to save Citi and BofA from massive 35%+ sell-offs.

*sigh*

I wish the Men In Black would stop throwing the lifeline every second day and let the market find it's proper, sustainable level. Too bad if there is greater pain as a result.

Greater, acute pain can often be easier to take if it is only brief, rather than having to suffering chronic, interminable, dragging pain that lasts for years.

So, DOW continuing to look anaemic and critically ill next week too.

aj

[Aussiejeff]

Crikey.

Today's DOW performance looks like the graph from a seismometer recording a major event!

The Obama-ites and Non-Believers sure are yanking each others chains big time. :D

[Wysiwyg]

I found this chart on a website which shows a correlation between then and now.

Here are two price charts: black - current price chart, red - price chart for 1929-1930:

[lookout]

Better charts here I think: http://dshort.com/

[Wysiwyg]

Better charts here I think: http://dshort.com/Yes I like this one better too.

[kennas]

Yes I like this one better too.So, out of the 3 example crashes, we're under 2 of them. OK

[lookout]

So, out of the 3 example crashes, we're under 2 of them. OK

Yes, but consider the state of the U.S. and world economy and debt levels at the different times. I think we've got a long way to go before we've resolved the issue of excessive debt. It seems that there is no new bubble to inflate that we can use to put off dealing with the debt. This time asset prices really will return to long term averages, many companies and individuals will go bankrupt, debt will be destroyed, and through this painful process we'll end up with a healthy economy for a time. Government interference may make the process much more painful than it needs to be - it seems they are risking everything by throwing borrowed money down the throats of insolvent corporations - this generates more debt for taxpayers and less confidence in the system, both of which are very bad for the economy.

[i_in]

my vision about DJ
gl&gt

[i_in]

OK, I think to try this
short 8388 stop 8430 target open for now
gl&gt

[alwaysLearning]

Yes I like this one better too.

Your chart scares the S%$& out of me :( :(

We have not had the capitulation move down yet on the blue line :(

[i_in]

Your chart scares the S%$& out of me :( :(

We have not had the capitulation move down yet on the blue line :(

I can assume a small mistake in my counting.This is not my traditional trade I just wait to take long EUR/USD and add GBP/JPY

[nulla nulla]

5 May 2009, 6:55am, DOW +214.33, +2.61% at 8,426.74.

[i_in]

5 May 2009, 6:55am, DOW +214.33, +2.61% at 8,426.74.

yea :/