Thread: Dow

**Hoop** · 24-06-2016, 08:10 PM

Bollinger bands snapped...its down folks.. big time..

The DOW futures fell over 700 and has since recovered about 300 of that 700 and stablising...the recovery is back above the broken bull/bear support line at around the 19th May intraday low of 17331 and close of 17435...so if the DOW can hold above that bull/bear line (17435) then the bulls are still in control and the DOW not totally TA broken

**Valuegrowth** · 24-06-2016, 09:50 PM

I totally agree with you. In the short run, there could be more demand for defensive types of stocks particularly food and restaurants related stocks. Brexit is creating some great opportunity globally. It is time to go behind Brexit winners.

Originally Posted by Hoop

Bollinger bands snapped...its down folks.. big time..

The DOW futures fell over 700 and has since recovered about 300 of that 700 and stablising...the recovery is back above the broken bull/bear support line at around the 19th May intraday low of 17331 and close of 17435...so if the DOW can hold above that bull/bear line (17435) then the bulls are still in control and the DOW not totally TA broken

**Daytr** · 25-06-2016, 12:31 PM

Opportunity I would suggest. I bought the FTSE when was down 9%, got a 5% bounce & closed out. Got long the DOW after a pull back. Think the doom and gloom over Brexit is completely overstated. Obviously interest rates now stay low for longer and perhaps even lower than now. Equities more attractive. Mainland European indices I think are far more vulnerable than the UK or US.

**Valuegrowth** · 16-07-2016, 12:37 PM

Still bulls are alive and well. Next target is 19,000.

**macduffy** · 23-07-2016, 02:16 PM

This is the top!

https://image-store.slidesharecdn.co...-original.jpeg

**Daytr** · 23-07-2016, 07:41 PM

Well one thing that does normally foretell a top is thin trading & that's certainly what we are seeing. The Microsoft result was pretty stellar so probably extended the run a little.

**winner69** · 23-07-2016, 08:21 PM

Sell in May and go away ......so thy say

Thats why volumes are light?

But going to cost heaps more to buy back in October

**Baa_Baa** · 23-07-2016, 09:44 PM

Originally Posted by winner69

Sell in May and go away ......so thy say

Thats why volumes are light?

But going to cost heaps more to buy back in October

Volumes are light because few companies posted stellar results, those that did were (just) enough to continue the index. Nothing about old wives tales or sayings, this is a toppy market with very few standout performers holding it up. VIX should tell the story soon enough, imo. Ripe for a plucking, have you checked the balance of shorts?

**Baa_Baa** · 23-07-2016, 10:02 PM

A weekly Bollinger would be nice, sipping on a glass of fine bubbly, but from a chart perspective the Bollinger bands are a key indicator. Any time the price moves towards and then away from the 2.5 standard deviations which are the upper and lower Bollinger bands, is time to take notice. DOW weekly takes a lot of the daily noise out, though this week it decided to pull away from the upper Bollinger band. This portends a topping with sideways and possibly downside to follow, perhaps a back test of the all time high breakouts. It is a caution signal. Don't ignore the Bollinger bands, they are very helpful indicators of highs and lows.

Attachment 8182