Dow Jones 30: Industrials Index

[saffeysite1]

May take out 10,600 today.  Huge break out from last weeks consolidation.

[Goozman]

What do you guys think about DOW right now? I think it will rise towards 10500 and if it brakes that, it will also brake 10700 in the coming weeks.

I appreciate opinions. 

Goozman

[Goozman]

It hit ~10060 today. Ouch, that hurt me a bit 

Goozman

[AussieTrader]

Based just above 10200 for a good few sessions now Thursday saw bottom shadow test just under 10200 which was the bullish prelude to Friday move. I think it set to test recent highs again 10600 region (top bollinger band)

[Tirebldr]

Isn't it interesting how the DOW has worked completely opposite the price of Crude Oil (which has been in an uptrend since the middle of 2003). Oil goes up, DOW goes down.

Might be interesting to see how the market reacts to Crude Oil in the next few weeks. But what has interested me the most, is how many stocks work their way  up on a given day, seemingly nomatter what the market does. I always heard that, but never really saw it till I came to 3SF. I haven't figured yet how to find those which are ready to break out before they do, but I'm sure if I keep my ears open on 3SF, I will eventually figure it out. Or someone will email me and set me straight

[Trend Trader]

The DOW found support at the lower TL (10,350) and has now made a nice 200 dollar move too the down TL. It will be interesting too see where we continue the move up or have met ressistance at the TL ??

[The Shark]

Has been painful lately.

[Trend Trader]

Nice 2 day move up from the lows, but, closing right against the median trendline which could be some major ressistance. Good report from IBM and not so good economic??? Which way do we go form here

[metro]

The broad markets have had a great run the last several years though 2005 was not as great it was still pretty good

The NYSE index that is made up of all the stocks listed there is close to an all time high and up over 7% for 2005 but up over 350% in the last 14 years or average of 25% a year.

one year daily chart



14 year weekly chart



The S&P 500 stocks are also closing not too far off the all time high made recently. This is the total index made of all the stocks and not the phony one quoted by the media



The Value Line is made up of 1700 stocks and shows how strong the market has been. This also though shows that the 4-year cycle high is to be reached in the next quarter and this is watch buy most chat followers. We cannot know if it will follow the same pattern but if it does expect a pullback before April to last until the last Quarter when the 4-year cycle low is due.



These may or may not come about but interesting to watch. But the safest thing to do is wait for a trend to be obvious. Tight now some charts show negative divergence but they are all still in a nice uptrend and the trend is your friend.

The economy is doing well with increasing corporate profits and they may not push the market but better to wait before being too bearish.

Funny thing the bears make less profit on the same move. If a $21 stock goes to $2 a long makes 100% profit but if a short then sells it at $2 and it goes to $1 he makes only 50% profit. So the money is in being long as long as you can find good stocks to buy.

[la-onda]

Metro,
I really appreciate your analysis!
Thanks for your great postings


наилучшие пожелания и с новым годом


(Hope my translation was correct  )
cheers
Oliver

[metro]

Спасибо  la-onda С Новым годом к вам также

[metro]

I put a post on market highs I guess on wrong place - maybe does not matter

http://www.3stocksonfire.org/trading/index.php?topic=4213.new#new

[Miguel007]

Profit Taking in USA Markets or something more ?

The market's move lower was unsurprising after the major indexes reached new 4 1/2-year highs Wednesday for the second time in a week. Also the crude still showing some resistance to fall, the futures prices remained elevated and worries about the resumption of Iran's nuclear research program weighed on the market. Iran is "not worried" about its possible referral to the UN Security Council over its nuclear programme, a senior nuclear official told state television on Thursday. The market also was pressured by downgrades for Coca-Cola Co. and J.P. Morgan Chase and earnings uncertainty. 

[Liquid Stick]

If, this were the end of the month.  Todays close would be the highest close ever recorded.

[setravis]

Congratulations! New Dow High   

Theres no conspiracy. Its the will of the people. 
Consumer confidence is after all, at or near highest levels.
Ride em up, though it does get scary when the market keeps hitting the Moving average ,like today.

Technicals
Record Price High

Last Price Quote is:
1.16%above 13-day EMA
2.95%above 50-day EMA