Henry Ford's MarketWatch LIVE!
Intraday Market Insights
:: Wednesday, July 03, 2002 ::
2:12 PM
WILL BE GONE REST OF THE DAY
Looks like we have our range established...Watch for a solid break of 8900 DOW to the downside or 8980 for break to the upside. SP500 watch 947.50 on upside and 935 on the downside.
Have a great and safe 4th of July and lets hope for no unfortunate events so we can get a post holiday rally going here.
WEEKEND UPDATE:
Be back Monday Morning 6:15 Pacific time....Expect a good week next week after retracement Monday or Tuesday off of Friday's highs, (PREFERABLY TUESDAY). Important key resistance levels taken out and good indicator action. See the commentary section to the left for details.
:: Henry Ford ::
12:34 PM
DOW GOING TO CHALLENGE 8900 AGAIN
:: Henry Ford ::
11:45 AM
HERE IS THE SP CYCLES CHART with explanation of cycles
Here's a SPX chart with a time price pattern.
The red box is the measure 19-Mar-02 hi to 7-May-02 low.
The red labeled 17-May-02 extension is .618 x Time and Equal price.
The red box is the measure 17-May-02 hi to 14-Jun-02 low.
The red labeled 18-Jun-02 extension is .618 x Time and Equal price.
The completion dates are labeled 18-Jun-02 (high) and 5-Jul-02 (low?)
The 915.87 price target is below the 8-Oct-98 low of 923 that everyone is fixated upon, we'll take that out just to wind it up.
July 5th is Friday, could be a thin trading day with the shorts covering if nothing happens on July 4th or just to hit the weekend flat.
With the timespan of each leg down shrinking by .618 and the price decline remaining the same, the downside accelleration has increased to an unsustainable level (hyperbolic)
FWIW, I think this will be the absolute price bottom in the NASDAQ and possibly the SPX.
These charts and commentary courtesy of George Rodart
:: Henry Ford ::
11:20 AM
POSSIBLE DOW TARGET NOW 8715..
:: Henry Ford ::
11:17 AM
LETS TRY THIS CHART AGAIN
Will post an interesting chart in a minute which shows cycle convergence around this week. It will be too big to fit on this forum page, so will put link right below this paragraph in just a few minutes
:: Henry Ford ::
10:45 AM
JUST BROKE YESTERDAY'S SUPPORT ON DOW
Could be just running stops...we'll see
:: Henry Ford ::
10:08 AM
LOWER THAN EXPECTED ISM NUMBERS DAMPENED RALLY
Now we need to see prices get back above resistance and get some short covering going before we will see renewal. Line we need to see convincingly hold on SPFutures is 950.50. DOW number is 9050 to get things going
:: Henry Ford ::
9:47 AM
:: Henry Ford ::
9:27 AM
HERE'S THE TRADE CLOCK AGAIN
:: Henry Ford ::
9:25 AM
GOOD MORNING
We'll have some gap down open activity at the open, but doesn't look extreme. We will have to give it 20 minutes or so to see if this is a trend continuation.
:: Henry Ford ::