DOW

I've also been waiting for that trendline (the spx equivalent actually) but there's also a possibility of a hammer yesterday (not a perfect one) at the 61.8% Fib and historic support/resistance at 15073:



dl.dropboxusercontent.com/u/20815047/Dowdaily01_10_13.png

Just a possibility...

Worth a long at the short term up trend line on a first attempt basis.(14989) with a 40 point stop during market hours only.This could be a good level for a bounce tomorrow??



dl.dropboxusercontent.com/u/4899609/dow30thsept.png

rumors of the END of QE might help that short too


ooops...forgot link:

www.reuters.com/article/2013/09/17/us-us...dUSBRE98G18K20130917

Im gonna be shorting the dow at 15658 with a 40 points stop for today only.
This trade will be placed until 8.30pm UK time. This is a first attempt trade only.


dl.dropboxusercontent.com/u/4899609/dow17thsept.png

Hold the press, here's why:

Dear Mr. President,



I am writing to withdraw my name for consideration to be Chairman of the Federal Reserve.



It has been a privilege to work with you since the beginning of your Administration as you led the nation through a severe recession into a sustained economic recovery built on policies to promote employment and strengthen the middle class.



This is a complex moment in our national life. I have reluctantly concluded that any possible confirmation process for me would be acrimonious and would not serve the interests of the Federal Reserve, the Administration, or ultimately, the interests of the nation’s ongoing economic recovery.



I look forward to continuing to support your efforts to strengthen our national economy by creating a broad based prosperity and to reform our financial system so that no President ever again faces what you and your economic team faced upon taking office in 2009.



Sincerely yours,



Lawrence Summers

Jeez! I guess the markets can't stand him (with good reason one supposes!)

remo wrote: It looks like all the indexes are gonna open up massively tomorrow.
Hopefully a nice bullish week ahead

Came back a few mins ago, logged on, and thought my eyes were deceiving me!

Dow futures up 185 as I type, and the FTSE isn't bad either with its futures up around 77 points.



Any idea why?

I'm guessing weak USD is driving a mini-rotation. Happy to be corrected.