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Market Update: The DOW JONES Rocked - We did too!

Dow Jones

Today the Dow Jones was showing a horrible decline before the open which got a little messier at the open. In our previous article TMS showed you how we previously dealt with a horrible decline at the open on Friday.

TUESDAY was no different; the following was emailed to all members when Futures were pointing to the possible end of the world:

As we're in the process of bottom making in the short term, TMS system is now long at 9858 for the DOW JONES in which probabilities would favour a higher market by the end of this week.

Kind Regards

Trading Market Signals

By the close this is what one member had to say via email:

FANTASTIC.

Thanks to you guys this was a REAL TRADING DAY for me. Very enjoyable!

I have hit my weekly goal of pips in one day

Greetings

Andre in Oslo.

I guess he like other members was happy to have gained around 250 points!

Here is a chart showing graphically, one of the reasons why the TMS system went Long:

Dow Jones Industrial Average

The blue circle interaction with the bottom of the channel shown by the green channel line kind of gives it away in the four hour chart above!

In our daily market commentary we stated:

'The Dow Jones must hold 9800 and 9750 respectively with an outside chance that the 9900 mark may hold for the real session later.'

So the 9800 stood its ground in solid fashion as even the 5 minute chart did not give us one close below the level. The 9900 and even the 10000 held on the daily timeframe.

It looked ugly, it was all over the media, new lows for 2010 and panic and volatility at extreme. We love the danger as it's the perfect signal to go long in itself!

For those of you that didn't read our previous comments on the Dow Jones for Friday, here they are below:

At Trading Market Signals we ask you how much precision you're trading requires. Would this be any good?

After the decline of the 20th for the Dow Jones, Trading Market Signals stated the following to all its members in our daily market commentary;

"Should a decline occur today then we will be hoping for the washout to occur early in the session in which we will be watching the 9915 extremely carefully as that may well be the last of the decline. Either way, we haven't got much to go on the downside."

At TMS we were watching like a hawk and so were our members!

At the Dow Jones open we had the 9915 on Long Alert and in the first minute of trading the market made its low within 10 points of this magic number! FANTASTIC just as we asked for, a horrible looking decline at the open in which our target was met with precision. 36 minutes later we were 200 points higher! Two hours and 23 minutes later we were virtually 300 points higher!

Dow Jones Industrial Average

The downside target for the very short term was met and whilst the above chart holds a possible scenario the price action situation is seriously not as simple. This week will prove critical for the medium term trend. Snapping Friday's lows can easily take the market significantly lower in which we could see a large collapse in prices take place.

At TMS it is safe to say that we evaluate our unbiased technical analysis approaches however our TMS system will dictate our following of market prices consistently.


Euro

Euro

It was obvious to see the Euro hold its session lows and stage a turnaround in which higher prices now need to hold 12144 and would need to take out 126 with conviction. Such a case would see the Euro trade higher towards upside targets.


Where now?

If you're trading requires you to stay one step ahead of the market moves, if you need the critical numbers before the market reacts and takes off, if you need the TMS system to perhaps act as your secondary indicator on your trading checklist then you can join us with the link below with our special flash crash rate subscription: http://tradingmarketsignals.com/#/special-client-100-members/4540799314

Obtain technical analysis commentary like no other with critical market charts and TMS signals that netted 15377 points in 2009 on the five major markets we follow: Dow Jones, GBP.USD, EUR.USD, Crude Oil and FTSE100.

Don't peep from the outside wondering how we do it as simply your missing out. Come in, join, learn and see how TMS conquers market moves!

Until next time, remember:

Trading Market Signals
...the hub of unbiased technical analysis!

 

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