Dow Jones: 700 Punkte Verlust steht an !

Pull-Back

Dow pulls back, forms clear lower trend line.

The Dow pulled back off yesterday's highs today, losing 64 points on the session, as seen in the 15 and 60 Minute Charts. The 15 Minute Chart shows the Dow may be forming a downward-sloping consolidation at the highs, which is typically a bullish pattern. An upside break through 10,400 should propel the Dow into another move higher, however, further consolidation development is likely before a break either way occurs.

The 60 Minute Chart shows the Dow has formed a clear trend line beneath the lows of the recent two-week upmove. A downside break of the line at 10,350 will likely make for continued weakness tomorrow. However, if the Dow can hold above 10,300, we could see a larger trading range form at the highs over the next few sessions.

Short Term Dow

Short term, the Dow has formed a clear trend line across the highs of the 1 Minute Chart. A break of this line at 10,380 will likely make for strength tomorrow morning.

Medium Term Dow

In the medium term, we are still out of the market, since none of our entry levels were triggered. We will watch 10,400 up, and 10,350 down tomorrow; using 20 point stops.

NASDAQ & S&P

The S&P and NASDAQ each sold off today, retracing a good portion of the recent advance. Watch the key upper trend lines for violations to indicate strength tomorrow. *

Summary

The Dow ended the day lower after pulling back slowly, but steadily today. The index has formed a downward-sloping consolidation at the highs, which hints at eventual strength. But we could see a further pull-back before another move higher is seen. Watch 10,400 up, and 10,350 tomorrow.

Thanks for listening, and Good luck in your trading..

Ed Downs
edowns@nirvsys.com

with assistance from..
Frank Ochoa, Market Analyst
fochoa@nirvsys.com

** Note: We are now posting Index entries and exits in Real Time, through our new Intraday Index Alerts service. To learn more about the service, visit SignalWatch.com and select Intraday Alerts from the main navigation bar. - SW Team

Downmove

Dow sells off at Open, trends lower to the Close.

The Dow broke the 10,350 level early in the session, fueling weakness to the Close, as seen in the 15 and 60 Minute Charts. The index ended the day lower by 75 points and is now holding above the key 10,300 level.

The Daily Chart shows the Dow is showing weakness near the major upper trend line at around 10,430. We could see the index hold at the highs for some time, as a trading range develops, especially if 10,300 continues to hold. Otherwise, a break below 10,300 will signal a continuation lower, likely toward 10,200.

Short Term Dow

Short term, the Dow has formed a clear trend line across the highs of today's downmove. An upside break through 10,340 will indicate strength at the Open, while a break below 10,300 will signal further weakness.

Medium Term Dow

In the medium term, we entered the market Short at 10,347 and are still in the trade. We will continue to hold stops at the entry for tomorrow's market and will stay Short below 10,300. We will look to enter Longs above 10,360; using 20 points stops.

NASDAQ & S&P

The S&P and NASDAQ each pushed steadily lower today, pulling back from recent highs. Each is now approaching key support, which will be important to medium term direction. *

Summary

The Dow pushed steadily lower throughout the session today, ending the day lower by 75 points. Look for the index to form a range at the highs, should the 10,300 level hold. Otherwise, a break here could spark much more weakness.

Thanks for listening, and Good luck in your trading..

Ed Downs
edowns@nirvsys.com

with assistance from..
Frank Ochoa, Market Analyst
fochoa@nirvsys.com

** Note: We are now posting Index entries and exits in Real Time, through our new Intraday Index Alerts service. To learn more about the service, visit SignalWatch.com and select Intraday Alerts from the main navigation bar. - SW Team

Volatile Session

Dow rallies at Open, but falls sharply to the Close.

The Dow broke through 10,340 early in the session, which resulted in strength throughout most of the day, as seen in the 15 and 60 Minute Charts. However, the Dow held firmly at resistance at 10,430 before falling to the Close.

The index held on to a 46 point gain, but may now be forming a large range at the highs from 10,300 to 10,430, seen in the 60 Minute Chart.

Look for the index to trade within the boundaries of this range before another major medium term move is seen. A break either way should provide solid direction. Watch 10,300 down, and 10,430 up tomorrow.

Short Term Dow

Short term, the Dow has formed a clear trend line beneath the lows of the late-day upmove, seen in the 1 Minute Chart. A downside break through the line at 10,370 will likely make for weakness tomorrow morning.

Medium Term Dow

In the medium term, we covered Shorts this morning at the Open at 10,385, giving us a 38 point loss. We later entered Longs at 10,404, but stopped out at the entry due to the Breakeven Rule. We are now out of the market and will widen our entry points to 10,435 up, and 10,300 down; using 20 point stops.

NASDAQ & S&P

The S&P and NASDAQ each gapped higher today, making for strength on the session. However, key ranges have now formed, which we will watch closely tomorrow. *

Summary

The Dow rallied at the Open, but held at resistance, forming a large trading range at the highs from 10,300 to 10,430. Look for further range movement within these boundaries until a break occurs.

Thanks for listening, and Good luck in your trading..

Ed Downs
edowns@nirvsys.com

with assistance from..
Frank Ochoa, Market Analyst
fochoa@nirvsys.com

** Note: We are now posting Index entries and exits in Real Time, through our new Intraday Index Alerts service. To learn more about the service, visit SignalWatch.com and select Intraday Alerts from the main navigation bar. - SW Team