Chart Analysis of the DOW Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Chart Analysis of the DOW

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: zigzagman	2/18/2009 4:56:44 PM
	of 120

Dow daily, hourly, and 15 minute charts: Today, the Dow's candlestick is a perfect 'doji' which can mean two different things...It can mean a reversal of the downtrend, or it can mean a moment of indecision in a downtrend...Could this be a bottom set today?...Who knows...Some of the lower technical indicators turned up slightly today, and it's still below the lower Bollie Band where I usually enter Swing Trades with a tight stop loss just under today's intraday low...The important thing here is today's close of 7553.63 was higher than the important closing price set on 11/20/08 of 7552.29 so that makes two days in a row it's been flirting with disaster if it closes below the 11/20 closing price...Today's intraday low of 7480.05 also didn't break below the 11/21 intraday low of 7449.38 The hourly chart shows a lot of room to move down to the lower BBand at around 7400, but a lot of the indicators upticked well today compared to yesterdays levels...Maybe the Plunge Protection Team will step in and keep the market from crashing down through the 7449.38 point, because if it does there will be massive electronic selling as peoples stop loss limit orders get executed...If 7449.38 gets broken, the Dow may hit 7400 really quickly IMO... The BBands on the 15 minute chart are squeezing tightly at today's close, so a big move is coming soon...Which way is the big question...I'm hoping it's UP for the sake of my dad's long term hold account...I don't like a two day consolidation after a huge gap down because that usually signals another step down...One thing I've noticed in the past week or so is that the market is going DOWN on GOOD news...Maybe the news wasn't as great as the market had hoped for, but it's still fairly good news...This is a dramatic change from a while ago when the market would go UP on BAD news...I just thought I'd mention that because it shows a definite change of sentiment...

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next