Whats going to happen Monday / Tuesday??

Where we going?

  • Up

    Votes: 26 36.6%

  • Down

    Votes: 21 29.6%

  • Sideways

    Votes: 12 16.9%

  • Don't care. I'm in cash

    Votes: 11 15.5%
  • Total voters
    71
Seems it is not necessary even to predict that a move they are jumping on will continue (or reverse)................................
 
My guess is Mon. and Tue. will be a couple of doji days or a little bounce up (referring to the Dow 30 chart) because Friday's close was getting close to oversold and it is sitting at a major support line. A lot of times the market doji's or makes small candles while it waits for near-term events. Wednesday's Alcoa earnings report and guidance, I think, will help set the tone. Plus Wed the 15th is Intel.

The obvious head and shoulders on the Dow is a concern because behind it is a bearish backdrop of declining earnings, increasing unemployment and the breakdown of the financial stocks. The "death cross" (40day average crossing down under the 200day) is also bearish. The P/E ratio of the market is fairly priced but if the "E" shrinks then the market will re-price and shrink as well.

If we get a lot of earnings misses and poor guidance I wouldn't be surprised if we see Dow 12,000 and 11,500 in the weeks ahead.

J
 
what dumbass would say not to predict ? i base my trading on timing the market. that is essentially predicting the direction. if we go sideways monday and tuesday then watch to sell on wed.

bgp
 
Of course we predict in some way. Like Jamis I am a tecnnical trader so I predict using price indicators and then consider the general market. I belive the market may be oversold but will wait and see tomorrow morning.
Right now the futures seem to be rising - we'll see. I would hope we would use this
forum to exchange intelligent and useful ideas. Lets not just call each other stupid
hey it doesn't make money for anyone.
Let pool some smarts.
 
Quote from Comptalk:

Just asked for an opinion. Geez. Some of you do not have to bite someone's head off for a simple question.
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He he, I'd say welcome to ET, but you have been here for a while :)
 
Ghostfish: but we also must remember that we're dealing with more volatility than in past markets>>>probably the only way the big boys can meet their quotas..............and the market's doin unusual fake-outs.........and not following traditional technical indicators.

If the bull's not finished I will bet that there will be a serious cut below this support level first!!
 
Quote from MrDODGE:

The market is all about predictions. Anyone who says otherwise is a complete dumba**. When you enter a position you are predicting the security is going to move up or down whether you are long or short. If you arn't predicting than you are wishing. In that case just burn all your money.
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Thank you for beating me to this. I couldn't agree more. We're ALL predictors, it is just in time frames that we all differ.
 
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