Australian (ASX) Stock Market Forum

Dow Jones/Nasdaq!

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All ords (-23.8) followed the DOW (-63) yesterday.

Overnight the DOW had a green day and rallied in the afternoon to be +22.1 (reaching for 11,000 again).

The ASX looks like it could buck the DOW lead and be in the red today. (SPI down overnight).
 
All Ords finished -7.9 yesterday to go against previous DOW +22

Overnight the DOW had a green day +25.

ASX could follow suit today.
 
All Ords (+20) followed the DOW (+25) yesterday.

DOW down -33 overnight. We could follow suit today.
 
Last I heard Nasdaq chief was tryin to bye out Dow Jones, but that planned faled. I guess he couldn't keep his head above water if he he tryed.

Stocky :cool:
 
StockyBailz said:
Last I heard Nasdaq chief was tryin to bye out Dow Jones, but that planned faled. I guess he couldn't keep his head above water if he he tryed.

Stocky :cool:
Click to expand...

These are both looking very bad atm, and doesn't everyone know it!
 
Although there is a lot of big money involved in such a merger or bye out. I really don't think a propersition between those two would even work, would it?

Stocky.....:cool:
 
Early signs of the US markets for tomorrow:

S & P and Nasdaq futures - down
heading for a down day ??

Oz market may continue on down tomorrow.

Cheers

Dutchie
 
My original forecast for the Dow Jones 40 was 12,500 in 2006, and this could still be achieved with oil prices and other commodities correcting significantly from this years highs.

Watch the property scene that has seen strong stock sell-offs which I think have been well overdone.
 
DOW down 0.6%, S & P 500 down 0.9% and Nasdaq down 1.5%.

European markets also remain depressed: FTSE 100 down 2.1%, DAX Extra down 2.8%, Paris Cac 40 down 2.7%, Zurick SMI down 2.3%, Eurofirst 300 down 2.1%.
 
DJIA is holding the 50% retrace Level and it has been a struggle down to this level of late.

The most recent pattern of the trend has a hint of an Ending Diagonal type of pattern ATM. I am looking to be a buyer at these levels with a tight stop
 

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How is the DOW dropping 3000 + points in 12 days!That must be some record for the greatest drop in the time frame.

Pseudo chart of DOW 30.
 

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Kauri, the entry and exit quote (US$) along with the chart.Click on either thumbnail to raise content. :)
 

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I trade in CFDs on the Nasdaq and NYSE. What a pile of **** for the past few months! Long or Short, makes a lick of difference in this drunken market.
Interested to hear from traders trading the short side of the markets.
 
The move up in the DJIA from the low on the 27th looks like it maybe impulsive so far.

Not sure if I have my wave notations for degree of trend correct, or even numbering of my 4th wave triangle. Perhaps some more experienced wavers can help out, Ozwaveguy or tech/a any opinions?

If it is correct, then we might see higher prices here today and monday to finish wave 5. What's more it ultimately might mean higher prices after a brief correction of that impulse.

All the best

STONER
 

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Confidence In Banking System Returning Which Could Lead To Stocks Extending Gains

Wednesday, 11 March 2009 13:02:59 GMT
Written by John Rivera, Analyst
Full Article

The confidence in the banking sector has started to return after Citigroup forecasted that it would have its best quarter since 3Q of 2007 and U.S. Treasury Secretary Tim Geithner predicts the bank rescue plan will succeed. The positive Citigroup news helped send stocks to the biggest one day rally since late November as Citi CEO Vilram Pandit said the bank was profitable in the first two months. On Charlie Rose yesterday the Treasury Secretary said that the details for dealing with the toxic assets on banks balance sheets will be unveiled in the next couple of weeks. He expressed confidence that the plan would work but would take time to work. Banking stocks have been beaten down and many trading at multi –decade lows leaves huge upside potential for them and if they continue to receive support, it may drag the entire market higher. Meanwhile, MBA mortgage applications showed a 11.3% increase which was a reversal from last weeks 12.3% decline which will also helped fuel bullish sentiment.

Dow Jones 6926.49
The DJIA futures were pointing toward a positive open as the increasing confidence in the banking sector should help lift financials higher. However, a 25.7% drop in Chinese exports in February dampened optimism overnight as the fears of a deepening global recession increased.

NASDAQ 1358.28
The Nasdaq across the board gains yesterday led by a 8.06% jump in tech stocks. The sector continues to be the favorite of traders and should continue to benefit from broader bullish sentiment.

S&P 500 719.60
The S&P 500 could benefit from continue support for financials as the sector was up 15% yesterday.

cfd.3.11-1.gif
 
The Dow Transports are sprinting ahead after completing a Flat consolidation pattern, suggesting much higher prices are in store. This Flat pattern is considered as very BULLISH and as the Transports have long been considered as a precursor to the main US market, higher prices in the S&P 500, Nasdaq and Dow Jones looks likely.
 

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