DOW Outlook
Started by
mss
, Oct 07 2003 08:18 PM
1 reply to this topic
#1
mss
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- TT Sponsor
- 6,182 posts
I'M WATCHING
Posted 07 October 2003 - 08:18 PM
WOMEN & CATS WILL DO AS THEY PLEASE, AND MEN & DOGS SHOULD GET USED TO THE IDEA.
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
#2
btreehouse
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- Traders-Talk User
- 213 posts
Member
Posted 07 October 2003 - 10:22 PM
Hi mss,
I love your participation on this and other boards and it is appreciated.
Short-term I think we may head a little higher, probably with some up down choppy movement the next few days to a week. After that, who knows. I also am looking for some further declines at least to the July 2003 lows.
Attached below is my own proprietary indicator which gave a buy on Oct 2, 2003
Another note that may be insignificant but is of interest to me. The NYSE tick recorded two consecutive closes above 1000. My own personal records indicate that the last time this happened was April 22, 1999 and April 23, 1999. Statistically it may be just an anomaly and mean nothing. April 22, the DJIA closed at 10727.18 and then closed down on April 23 at 10689.67 which is not similar to now. The DJIA did slowly climb higher thereafter to more significant resistance at the 11000 level. The market environment however was very different at the time since it was a bull market so I do not find the April 1999 period significant for comparison.
There has been another date which was fairly close. On Jan 2, 2002 the NYSE tick closed just below 1000 and then closed above 1000 the next day on Jan 3, 2002. January 2, 2002 the DJIA closed at 10073.40 and then closed at 10172.14 on January 3, 2002 which might more closesly compare to today. The DJIA topped at 10259.74 on January 4th and then embarked on a decline over 5% over the next 8 trading days.
Regards,
I love your participation on this and other boards and it is appreciated.
Short-term I think we may head a little higher, probably with some up down choppy movement the next few days to a week. After that, who knows. I also am looking for some further declines at least to the July 2003 lows.
Attached below is my own proprietary indicator which gave a buy on Oct 2, 2003
Another note that may be insignificant but is of interest to me. The NYSE tick recorded two consecutive closes above 1000. My own personal records indicate that the last time this happened was April 22, 1999 and April 23, 1999. Statistically it may be just an anomaly and mean nothing. April 22, the DJIA closed at 10727.18 and then closed down on April 23 at 10689.67 which is not similar to now. The DJIA did slowly climb higher thereafter to more significant resistance at the 11000 level. The market environment however was very different at the time since it was a bull market so I do not find the April 1999 period significant for comparison.
There has been another date which was fairly close. On Jan 2, 2002 the NYSE tick closed just below 1000 and then closed above 1000 the next day on Jan 3, 2002. January 2, 2002 the DJIA closed at 10073.40 and then closed at 10172.14 on January 3, 2002 which might more closesly compare to today. The DJIA topped at 10259.74 on January 4th and then embarked on a decline over 5% over the next 8 trading days.
Regards,
