Friday, July 23, 2010

Dow / indices

Dow has a bearish gartley on the hourly  and has made two equal swings off  Tuesdays low which is 70% reliable.  It is invalid above 10400 and first target is 10214 and pattern completion is that magic 10000 level.  If this pattern works to completion and not just a pullback then it is very hard to hold on to a bullish view.
The target 1, 50fib retrace would be a good buying point.


  1. Nic,

    How do you use the harmonic module on Dow/gold in MetaTrader?

    The module you sent me only works on FX symbols. It doesn't plot anything on the none-fx stuff. Or maybe I am doing something wrong.

  2. Did I only send you one
    I will send you the other one. You need one with a different min swing.

  3. Nic, dont know abt your charts but I have the mini dow closing above the 200 sma daily . Last few weeks it has been leading the S+P futures so just something to keep in mind.

  4. Hi Richard, I agree about the dow leading, going to look at more indices later today. Have a great weekend

  5. I would love to see a positive NFP number so everyone can suck in longs..Don't forget folks we are in August, it's a volatile month from ages..Well can't be more volatile then May for sure :-)

    The thing I am noticing on equities is less volume infact tiny volume compare to normal one's so either investors are waiting for market to tank then buy or not participating at all....this is not a good sign. For day traders opportunity is there for long term traders it should be a heaven..I like to see OIL @ 85 and so I can set shorts and forget about it :-)