Home > General Topics > Trading > Was today a blowoff top in DOW/NAZ?

Was today a blowoff top in DOW/NAZ?

  1. Was today a blowoff top in DOW/NAZ?
     
  2. we will all know in a month.
     
  3. Did not look like it was some significant top but if Monday is sharply lower it might have been.
    Walter
     
  4. Isn't it amazing that there is not one person in the world who knows.

    Nothing wrong with taking a shot. But you gotta use stops.
     
  5. I'm 100% cash as of now. ML team are limp noodles.
     
  6. I'm 30% long gold , 50% long u.s. non-gold equities diversified, and 20% cash. Not short anything.

    I've performed about the same as the s&p500 over the past 2 months, which is to say pretty good. I intend to outperform when the market goes down due to my gold and cash positions.
     
  7. .....you be the judge.
     
  8. Nice ! :D
     
  9. mmmmmm.......pictures..........aaaaarrrrgggghh.....
     
  10. sarasota,
    are those Gann angles? which line is the 720? where is your target?
     
  11. Very close to Gann angles.....180 degree target is the Diagonal that run parallel to the zero degree DIAGONAL. We gapped up this morning beyond our target line, but as you can see, the 720 degree support line (the dashed out steeper diagonal) nailed the bottoms of several days in a row.
     
  12. short one naz mini. System, not discretionary. We'll see.
     
  13. not sure ... as I could never count as well as tom demark

    System Testing Results: TD Sequential
    long 3/11/2003 DIA @ $75.95
    sell 6/6/2003 DIA @ $91.47

    saw this in active trader online ....

    perhaps someone with TD add on software can confirm this
     
  14. huge volume reversal improves the odds that today was it. markets needs spx/ndx needs two consecutive days of geniune selling to confim. no dip buying bullshit either!
     
  15. I can see one last new high gasp , though we're near the top in my opinion.
     
  16. 3 billion volume on the Nasdaq , impressive..
     
  17. who cares? :confused: As long as markets keeps moving one way or the other....!:D
     
  18. Short-term we may see possible pullbacks and decline from this point. However, Dow Theory wise (the granddaddy of all that is Technical Analysis and holy), we've witnessed the much needed and final confirmation of a major Bull Market. We're talking about the long-term market direction. For the past three years, Dow Theory has given a major sell/bear signal. Friday saw the first buy signal in three years.
     
  19. sent

    Date: Thu Jun 5, 2003 12:24 pm
    Subject: Market alert: Weekly Wave 3 target at 9058 reached 9087 breaking zone.

    http://tinyurl.com/dj35

    On Friday you could see the effect of the 9087 break zone : This kind of effect is due to the scale 4 :D

    I remind you that I gave an estimated target before well above the fake psy 9000 level :

    http://www.elitetrader.com/vb/showthread.php?s=&postid=257113&highlight=Dow+9000#post257113

    "05-19-03 10:50 AM
    Re: harrytrader
    On higher scale I have even more than 9000 (I think it's 9250 or even more I must check) but I'm not trading higher scale that's why I said I don't care about prediction that would be only true or false in a few months. If he want to go there I should see it coming when it comes ."

    Can we go higher ? Yes since we have touched the 8210 level which is the presignal of continuation. Dow must establish a base above 9028 / 9087 before. Very short term 4th scale is not sustainable so a consolidation would be healthy.


     
  20. According to the short term charts I read, the market is overbought. I purchased June 30 puts on the tripple Q's Friday afternoon
     
  21. We have hit the first seed wave of 4th scale on my model : as I said it is not sustainable on short term and in fact wave 1 is the limit of consolidation (not accounting for intraday volatility) so as theory said there will be sellers at top of wave 1. Nevertheless you play with 4th scale that is to say the noise can be great. I prefer to play it on intraday basis because buying at the break zone of 9087 on intraday basis was great but holding it was not :D.

    There are putters since 8781 on some automatic daily system and they still hang on with a stop above 9300 :D.

     
  22. One day does not a market make. My charts are showing the momentum, short term, and intermediate lines all at the top end of the upper reversal zone as of Friday a. m. This is a short term chart. Reversal could last for a day or two, maybe three. I use it for short term option trades on the 3-Q's. So far, it's been very accurate, however the psychology is changing....Well know in a few days if it is correct.
     
  23. You be the judge Part II

    Look at this up channel. It is defined by the zero degree diagonal (bottom of channel) and the 90 degree diagonal target line (top of the channel).
     
  24. I need all the help I can get.
     
  25. Sarasota,

    Please do take me as a jerk when I say this :

    What the hell are all of those lines.

    Gann or something.
     
  26. Sarasota, There are two charts available to CNBCU.com subscribers. One is Dow Jones and the other NASDAQ. I understand that these charts are trademarked by the owner developer of the software. They chart long term, short term and intermmediete term, along with a momentum line. They look similar to stochastic charts, but with four lines, having overbought and oversold areas at the top and bottom. As of Friday mornings charts are what I referenced earlier.