DOW

I'm assuming you cancelled that trade remo, given that it got there so close to end of day?

Dow is massively overbought but they still keep buying it. Crazy market!!

Thanks remo. I thought one or two of them were quite large @ c. 60-80 pts...anyway, I don't think they all got filled during market hours and was wondering if there's a 3 bearish gaps up pattern forming at the 61 fib today.

Jackozy wrote: Makes sense to me remo - stops above 340 as that's a strong area too.

Does anyone know if the Dow has gapped up each day for the last 3 days including today? TIA

fractional gap up...very slightly....each day..

Makes sense to me remo - stops above 340 as that's a strong area too.

Does anyone know if the Dow has gapped up each day for the last 3 days including today? TIA

Im gonna be shorting the dow when it hits 15310 .This is the level for today only.
Thats where the trend line back test will be for today.This level is also the 61.8 fib level from the high to the recent low so should be resistance as well. So theres 2 levels of resistance close together so worth a short on first attempt with a 40 point stop during market hours only.
The key to beating the dow is patients and NOT over trading. Its best to wait for key levels when trading the dow as its not a forgiving index if your day trading.


dl.dropboxusercontent.com/u/4899609/dow11thsept.png

probably will add more volatility with more financials co's...

Libero wrote: Folks,

This isn't a technical post, but it might have a bearing on technicals perhaps?

With Alcoa Out, Dow Gets a New Earnings Pacesetter

Alcoa is one of the ones heading out, and Visa and Nike (both terrific performers, especially when compared to Alcoa! are some of those coming in)

Not sure about about the adjustments and price weighing, but should be interesting!

(It proves by design, that these indicies are 'made' to rise over time, with the constant elimnation of the weak - the FTSE is another if you look at the stocks that comprised the UK index say, 10, 20 years ago).