Dow Jones Chart

[stockGURU]

Anyone care to air their views on the current state of the Dow Jones Industrials from a T/A perspective?

It looks to me like there is some support at around 10,400. Could get a bit sketchy if it falls through that level on heavy volume though.

Is the boogie man of further US interest rate rises terrorising the market?

Comments/analysis?

[DTM]

Hi Stock guru

Nice 135 points up movement on the Dow today . I think that the Dow won't go up much further. If doesn't keep going up like it did today and ranges around today's price level, I would think that it will drop in the next week or so. It could also possibly drop dramatically tomorrow. I'm still bearish on the US and the Australian markets.

Off course if it keeps shooting up like it did today, then I would change my view.

Just my thoughts

[RichKid]

Just going by your chart very quickly it looks like a top reversal formation. WayneL and the others that normally trade the US markets would have a more informed view of the situation. Definitely need a longer term chart for it to be sure.

[Smurf1976]

If the Dow goes much below 9800 then that wouldn't be good in my opinion. Long way down after that...

[wayneL]

1/ My publicly uttered prognostications as to future movements are notoriously inaccurate.

2/ I am also very bearish medium term

But FWIW...

I think there is good support at arouind 1160 (S&P 500) and the market bounced from that level yesterday. I think the market is good for at least a short term bounce.

This should impact favourably on the ASX short term.

But...we may have seen the high on the ASX for a while.

....my "guess"

Cheers

[reichstag911]

MY POSTS FROM ANOTHER FORUM:

25/3/2005
The XJO Baghdad Bounce and 'irrational exuberance' is _at last _ showing signs of a very overdue correction.


25/3/2005
All i'm saying is that the bears are poking their noses out of the cave and contemplating a bit of a romp outside - within months ?
I am not saying we are now in a bear market - i am saying we are _starting_ a much needed correction.


30/3/2005
Temporary bottomed today at 4095 for the XJO imo.
Nice short after the dead cat bounce.


18/11/2004
My weekly USD chart is giving me definate bullish divergence.
Perhaps precious metals will have a nice pullback (and buying opportunity) next year ?


25/3/2005
Bearish on XAU + HUI + XAU in AUD.
for this year and maybe longer...
This is based on TA - not funnymentals.


Mar 28, 2005
Bullish S+P500
It has bottomed for the move : (
and so it's up from here - only for the time being.

[reichstag911]

S+P 500 FIBO LEVELS.

[Cosmos]

Some of you may remember my post on the DJIA a few months ago which ended up been correct.

The rise is not over yet, the pattern it is doing now is similar to what has happened in the past. You will probable see a test of 11k again before falling back, from there its worst target is 11.4k. But after that you are looking at a big fall from July to September before a strong year end rally. Should be similar to what happened in 1957, 1959, 1990 and 1998, just seasonal trend.

Should the markets break the 10'400 support it is holding now by a margin I will be wrong.

Cheers