DOW

Trendfriend wrote: dow - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...hZYRoVsuacRa%2FTU%3D

I was looking for down day! but the dow held its gains well....small sell off into the close....

The dow closed yesterdays gap almost perfectly today....and the rsi held support.....for now....but tomorrows another day!

nice chart Libero...good work with that trendline!
seems like your enjoying trading the dow!

atb, wdik, dyor,
trendfriend

Hi TF,

Thank you, I'm learning from your guys!!!!

Yeah, the Dow (5min) trendline held up, until...... 8:55pm

But it did its job for a few coins (for the benevolent Fish & chips fund) within the range - i.e felt at east going short and long, just made sure I didn't hang around!

I honestly don't know where this is going - we've got more data today which will mess around with the market a bit, but I'm trying to look past bearish / bullish bias - which is very difficult to do.

I know the a lot of the bears don't want an economic or market collapse, some don't even want to short the oppertunity; rather, they simply want to get some bargains before riding the bulls high. As for the bulls? they are just nervous and only committed to a one way bet.

I'm just trying to stay out both sides' thinking and trade - but my own favoured view matches the bears looking to buy the market, with a "if it happens, it happens, if it don't, it don't" qualifier.


Stay Safe Folks!

Good post Libero....i think its better to keep a neutral mind set when trading....unlike me!!

going to be an interesting last hour....
cometh the hour....cometh the dump!

lets see...atb,
trendfriend

dow - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...HI9qkcwtkXWoUXi6o%3D

starting to drop a tad here...

22941 is the key for a lower low imvho....if it goes below that we could see a stronger move down...

atb, wdik,dyor,
trendfriend

DOW broken the 50 (MA)

Dropped at the end, but still held the 50ma I believe.

Only the 61.8 fib at around 25220, to hold this back.

If not, I should have bought.

dow - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...wLLgYifR3uAv4nm0U%3D

this keeps on going up and up and up!

Something does seem to happen around this 50 day ema line...
second time we had a p/b from that area....

The 200 day ema line is also key imho....technically in a down trend while below that feature

the 50 day ema line is at 23997....the 20 day ema is 23353.
If i draw a trend channel as in my chart...then in between we have the trendline....
so this hasn't run away as far as we think from these key levels.....and i still think a substantial down move should take place here.....quite possibly even a lower low....

If it doesn't then i will clean some egg of my face...
perhaps more importantly if this does runaway higher from here....i would question if this was a bear market at all??!!
or just a strong correction?

lets see what this does first!

atb, wdik,dyor,
trendfriend