Discussion in 'Trading' started by lowhangingfruit, Nov 21, 2007.
If the DOW closes below 12838 what does it mean?
I hate polls too. This one has relevance though. Please vote.
It's merely a number, but it would signal the start of a correction.
In hind sight we might say "bear market started on reversal from 14,000", but there isn't any bear pattern until there are lower highs, lower lows.
IMV, can't call Bear Market until Dow sustains <12,500.
Could be that we just have a trading range of 12,500-14,000... which would be just fine.
I'd say that confirmed close below August 16th close (12845). By confirmed I mean close below with a confirmation close.
Nasdaq - level 2580
S&P level 1430-1432
close below those levels will be significant. Just my opinion.
I am picking up some longs today based on the simplest TA.
First Dow intraday high of the year, last Feb. Non sustainable @ the time and slid to sq. Wild ticks are more important than most realize.
Often markets mirror or end as they begin.
Always nice to save that uncleaned data separately. You're the first person I've heard publicly mention that number.
Why do you attach significance?
it would mean nothing in relation to making money...like stck trader said...it is just a number
HEAR, HEAR, LOL!!!!!!
This bull market will last for decades with 5-10% dips along the way. As usual shorts and bears will interpret each dip as the the start of the next bear market. here is some good reading:
not again...please dont dump this EOD
It means it will begin raining cats and dogs and monkeys will begin flying out of Maria Bartiromo's butt. Then the skies will darken.....basically mass mayhem.
Separate names with a comma.