Thread: Pick The Dow
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Old 01-15-2004, 09:12 AM
bazanster2 bazanster2 is offline
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Join Date: Jul 2001
Posts: 7,909
Default RE:Pick The Dow

BG,

Tough call today. After hours sell off in tech despite a good earnings report from Intel.
Future Indicators very bearish. Looking for the Market to open well below yesterday's close.
And to top that off, there's a slew of reports before the Market's Open.

Jan 15 .....................................

8:30a Initial Claims
8:30a Retail Sales
8:30a Retail Sales ex-auto
8:30a CPI
8:30a Core CPI
8:30a NY Empire State Index
---------------------------------------------
12:00p Philadelphia Fed
--------------------------------------------
3:00p Treasury Budget

Theory, if the pre-market reports don't have a positive impact on the Future
Indicators, then would go DOWN for Thursday.

Future Indicators

It would take a very good Intial Claims number to help the Nasdaq today.
Looks like their headed for a sell off. MACD very high and MACD Histogram headed
down. Recent sideway's trading shows stalling momentum.

The Dow MACD has just reverse, meaning it should start on a down ward leg
to prehaps around 10,250. The MACD Histogram is also in a bearish trend below -0-.
Consider any more below 10,500 to be a bad sign.

Unless the Future Indicators are Positive , going to go with Down on Thursday.
The Market did have a big day, perhaps it gives a little back today.


either way, have a great day,

baz
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