Dow DEFINITELY looks good to 9000

8728 strong resistance indeed :D

Quote from harrytrader:

You can see 8728 that is highlighted in green which means local minima: it acts as strong resistance when market encounters it from below so I won't expect a push higher towards 8866 (if ever he goes there of course :D ) before consolidation.
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Today was his last chance : he failed again on 8728 :D
So this can be a turning point. In fact the color of trend is turning red on daily scale. Now the market hasn't closed so I will let him the ultimate chance :p

Quote from harrytrader:

8728 strong resistance indeed :D
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Tomorrow is Friday and as I said we have to look at PAST week close projection: we can see that normal top was due at 8711:
<IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=255514>


Quote from harrytrader:

I forgot we were already Friday and as so there is no much time left to do the target. Each Friday one must look at target calculated at last week close : last week's close calculation give a consolidation of 8449: to be conservative one must take this one for profit taking rather than the above at 8416 (because this one could be done at the beginning of next week or at best at the end of the session).

<IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=251805>
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a good ole fashioned short squeeze on the last day of options expiration (friday).

The trend is your friend.

The trend is Dow 9000.

I am THE new market wizard. The greatest of all time.

JJ
 
Finally it sustained rather well since it close two points above 8711. Above is the break. Rapid calculation gives potential of retesting 8740 tomorrow and since they have restrained the pressure it means they prepare to make the break towards the next level of 8886 (which has been lowered to 8859 below but market has kind of memory :D ). Now I never bet on close so tomorrow is another day :p

Quote from harrytrader:

Tomorrow is Friday and as I said we have to look at PAST week close projection: we can see that normal top was due at 8711:
<IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=255514>
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>I am THE new market wizard. The greatest of all time.
OK OK I confess and won't dispute the number one :D

>a good ole fashioned short squeeze on the last day of options >expiration (friday).
they like to do that for sure and not only on expiration day :D


Quote from Jesse J.:

a good ole fashioned short squeeze on the last day of options expiration (friday).

The trend is your friend.

The trend is Dow 9000.

I am THE new market wizard. The greatest of all time.

JJ
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Harry,

Reading this below leads me to believe that the level could be adjusted based on tomorrows open and early AM action? Correct? Please post here tomorrow if changes are made. I have requested membership to your discussion group.

Thank You,

Michael B.

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Finally it sustained rather well since it close two points above 8711. Above is the break. Rapid calculation gives potential of retesting 8740 tomorrow and since they have restrained the pressure it means they prepare to make the break towards the next level of 8886 (which has been lowered to 8859 below but market has kind of memory ). Now I never bet on close so tomorrow is another day
 
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