dowjones - using DIA for trading

hi

Iam trying to follow the dowjones for making a profit, i will use a DIA to determine the dowjones direction and play with it buy or sell.

By using technical analysis and elliott waves principle, i guess make a good profit.

the fall from 11200 to 9800 was a wave 1 as showing in chart,then retraced to 50% level as a wave either a of 2 or wave 2. 9800 which is last low is a key, if price decline below 9800 level that a signal that wave 2 was over and wave 3 is underway.

In this chart u can see many lower lows and lower highs, and many continuation patterns (not shown) that what happen when market is trending either up or down. the counting is 7 waves until now, which is a correction wave but its too early to consider the recent low as last low.


( I apologize of my inaccurate language )


see more and different analysis in :

http://ta7aleel.blogspot.com/

that was good

many profits from drop last week


here we agian

dow on way to 50 MA which acting as a resisitance, indices still in bearish mood unless dow penetrating 10500. Whats a good signal is the divergence in MACD with prices.

traders have to be side untill the vision be clear.

see next week

sorry i forgot to post a chart

Trading simply put is 'repeated pattern numbers game.'

If using EW or other bunch of indicators, you can find out the patterns, then it is good for you.

About Dow, if quarterly results are good starting with Alcoa on Monday, we may be back to 11000 levels in few weeks time !

yes iam with u


trader should apply all tools as can to reach the last vision of market.

but its too difficult to reach 11000 there are many barrier prevents or make reaching 11000 less likely

The first chart above was a depend on elliott wave principle, now i see count need to change. Instead of wave 2 was completed, its still ongoing and the wave C is underway.


What is interesting is OBV indicator as showing below, i use 50 MA with OBV to see if indicator confirm the movement of DJI. as long as OBV above or higher than 50MA that indicate a bullish market and Vice versa.

After friday close, the DJI in the way to new low

anticipated movement, dji was unable to penetrate the preceding high..

maybe see dji falling to previous low near 9600

resistance near 10,610 which is previous high, i would supose it ending of wave 2

u can see new update in this link




http://ta7aleel.blogspot.com/2010/07/httpta7aleel.html

minor wave 3 almost begin

...with the big boy tech analysis decidely short and the Hindenburg Omen indicator triggering last week, what's in store for DJI for the rest of this year and longer term?

I completely agree with you.

My long term view is so bearish regardless numbers