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ERICY setting up with favorable volume trends...
http://stockcharts.com/def/servlet/SC.web?c=ericy,uu[w,a]dhcayiay[d20050402,20061231][pc200!c50!f][v...
PRU setting up in yet another nice base...
http://stockcharts.com/def/servlet/SC.web?c=pru,uu[w,a]dhcayiay[d20050618,20061218][pb50!b200!f][vc6...
COH putting in a couple of bullish hammers off the 50 day...
http://stockcharts.com/def/servlet/SC.web?c=coh,uu[w,a]dhcayiay[d20050307,20061231][pb50!b200!f][vc6...
ASEI looking healthy here...
http://stockcharts.com/def/servlet/SC.web?c=asei,uu[w,a]dhcayiay[d20050307,20061231][pb50!b200!f][vc...
Bull Flag breakout on the SP 500...
http://stockcharts.com/def/servlet/SC.web?c=$spx,uu[w,a]dhcayiay[d20050402,20061231][pf][vc60][iub14...
Nice breakout in the Dow on the Weekly to 5 year highs...
http://stockcharts.com/def/servlet/SC.web?c=$indu,uu[w,a]whcayiay[d20030102,20061231][pb50!b200!f][v...
Jim yes one and the same!
Some nice trading opportunities in MRVL...nice hammer today off the 50 MA.
http://stockcharts.com/def/servlet/SC.web?c=mrvl,uu[w,a]dhcayiay[d20050307,20061231][pb50!b200!f][vc...
Sure enough....Transports all time highs on todays move and the Dow is breaking out of its bullish wedge as well. Banks breaking to the norm out of its bullish wedge.
http://stockcharts.com/def/servlet/SC.web?c=$tran,uu[w,a]dhcayiay[d20050409,20061231][pb50!b200!f][v...
http://stockcharts.com/def/servlet/SC.web?c=$indu,uu[w,a]dhcayiay[d20050402,20061231][pc50!c200!f][v...
http://stockcharts.com/def/servlet/SC.web?c=$djusbk,uu[w,a]dhcayiay[d20050615,20061231][pb50!b200!f]...
New highs in the Transports if these three bases play out to their expectation. All 3 are heavily weighted in the index.
http://stockcharts.com/def/servlet/SC.web?c=fdx,uu[w,a]dhcayiay[d20050507,20061231][pb50!b200!f][vc6...
http://stockcharts.com/def/servlet/SC.web?c=lstr,uu[w,a]dhcayiay[d20050307,20061231][pb50!b200!f][vc...
http://stockcharts.com/def/servlet/SC.web?c=ups,uu[w,a]dhcayiay[d20050507,20061231][pb50!b200!f][vc6...
QCOM looks ready to resume its recent ascent...
http://stockcharts.com/def/servlet/SC.web?c=qcom,uu[w,a]dhcayiay[d20050507,20061231][pb50!b200!f][vc...
FFIV a nice hammer off the 50 day setting up in a nice base...
http://stockcharts.com/def/servlet/SC.web?c=ffiv,uu[w,a]dhcayiay[d20050618,20061218][pc50!c200!f][vc...
Keep watch on this GRMN base...looks ready.
http://stockcharts.com/def/servlet/SC.web?c=grmn,uu[w,a]dhcayiay[d20050507,20061231][pb50!b200!f][vc...
Watch out for this ending diagonal on the NDX....should find an upside break soon.
http://stockcharts.com/def/servlet/SC.web?c=$ndx,uu[w,a]ehcayiay[d30][pf][vc60][ila12,26,9!ub14!lp14...
>>>On the BKX, plexxus... if you use the first low after the price high to draw your lower line, it becomes something quite much like a channel. Obviously, in either case, a move out of the top is bullish (and would provide that rally leadership I keep asking about), but a trip to the bottom of the channel (or the wedge) for a third touch could also happen, couldn't it?>>>
Hi Freep...certainly its possible but I like the fact that the BKX held its prior low on the last move down...you could term it some type of double bottom pattern. Its certainly subject to individual interpretation. My overall take here is that the banks and transports are setting up nicely while the semi's look like they could use a mild pullback off resistance to setup their patterns better. Per the transports they key stocks in the group including LSTR, FDX, UPS are all in bullish patterns (my interpretation).
>>>Dow once again turned back by 10950. Getting old, I tell ya.>>>
I agree...that 11k resistance is tough. We've literally been in a 400 point range on the Dow over the past 3 months or so. The BB's must be pinched VERY tight.
BKX looks like its setting up in a bullish wedge...
http://stockcharts.com/def/servlet/SC.web?c=$bkx,uu[w,a]dhcayiay[d20050607,20061231][pb50!b200!f][vc...
madtryolean...per your PM i'm in full agreement :))
Dow nearing a major pivot here...very constricted coil in play here.
http://stockcharts.com/def/servlet/SC.web?c=$indu,uu[w,a]dhcayiay[d20050102,20061231][pc50!c200!f][v...
AJ I'm not averse to another pullback in our wedges but I do expect an upside resolution in time. I think the key stocks and sectors are setting up here. Conversely I suspect that oil and much of the commodity group is in the process of putting in a significant top. As always time will tell the tale.
P/S My mailbox BEAR-0-meter has been spinning out of control the past few days. Sorry I don't have a chart for that <g>
Mobile Telecom Index is ready for higher levels...nice base setting up and an objective entry here. Lots of sectors at objective entry points.
http://stockcharts.com/def/servlet/SC.web?c=$djuswc,uu[w,a]dhcayiay[dd][pf][vc60][iub14!la12,26,9!lp...
Thanks AJ...if $60 breaks that could be a catalyst for a move up and out of our Index Patterns...transports are setting up here.
http://stockcharts.com/def/servlet/SC.web?c=$tran,uu[w,a]dhcayiay[dc][pb50!b200!b20!f][vc60][iub14!l...
Sandeeps I tend to concur with your take on the A/B/C setup.
Oil Update...Bearish Wedge breaks to the norm...watchout if $60 breaks convincingly. Lower high now in place.
http://stockcharts.com/def/servlet/SC.web?c=$wtic,uu[w,a]dhcayiay[d20050631,20061231][pc50!c200!f][v...
http://stockcharts.com/def/servlet/SC.web?c=$wtic,uu[w,a]whclyiay[df][pf][vc60][ila12,26,9][J5198715...
NTAP in a tight coil back to major support...big picture inverse h/s pattern in place.
http://stockcharts.com/def/servlet/SC.web?c=ntap,uu[w,a]dhcayiay[d20050602,20061231][pc50!c200!f][vc...
GOOG looks like its set a short term low with todays hammer.
http://stockcharts.com/def/servlet/SC.web?c=goog,uu[w,a]dhcayiay[d20050707,20061231][pb50!b200!f][vc...
FDX forming a bullish flag pattern that has potential to take the Transports to new highs.
http://stockcharts.com/def/servlet/SC.web?c=fdx,uu[w,a]dhcayiay[d20050507,20061231][pb50!b200!f][vc6...
Very tight patterns setting up on most indices...my bias is for an upside resolution in time. Bullish divergence at recent price lows on the 60 Minute Charts. Its possible our falling wedge patterns could turn into ending diagonals. Expect these tight patterns to be explosive.
http://stockcharts.com/def/servlet/SC.web?c=$compq,uu[w,a]dhcayiay[d20050102,20061231][pc50!c200!f][...
Oil is looking short term toppy here...check out some of these charts.
http://stockcharts.com/def/servlet/SC.web?c=$wtic,uu[w,a]dhcayiay[d20050631,20061231][pc50!c200!f][v...
http://stockcharts.com/def/servlet/SC.web?c=gsf,uu[w,a]dhcayiay[d20050307,20061231][pb50!b200!f][vc6...
http://stockcharts.com/def/servlet/SC.web?c=vlo,uu[w,a]dhcayiay[d20050307,20061231][pb50!b200!f][vc6...
http://stockcharts.com/def/servlet/SC.web?c=swn,uu[w,a]dhcayiay[d20050307,20061231][pb50!b200!f][vc6...
http://stockcharts.com/def/servlet/SC.web?c=pkd,uu[w,a]dhcayiay[d20050307,20061231][pb50!b200!f][vc6...
Same story here...
http://stockcharts.com/def/servlet/SC.web?c=apc,uu[w,a]dhcayiay[d20050307,20061231][pb50!b200!f][vc6...
Edit on CYMI look for the top of the gap to hold on any testback in the days ahead. Stops not far below.
Massive base breakout in CYMI...look for higher levels over time...any pullback to that upper trendline makes for a long side entry with stops just below. Should hold the bottom of its gap today.
http://stockcharts.com/def/servlet/SC.web?c=cymi,uu[w,a]dhcayiay[d20020107,20061231][pf][vc60][ila12...
Same story on the SP 500....
http://stockcharts.com/def/servlet/SC.web?c=$spx,uu[w,a]ehcayiay[d30][pf][vc60][ila12,26,9!ub14][J55...
Healthy looking triangle forming on the Wilshire...
http://stockcharts.com/def/servlet/SC.web?c=$wlsh,uu[w,a]ehcayiay[d30][pf][vc60][ila12,26,9!ub14][j5...
>>>plexxus - Let's say you have a portfolio where you could choose only Midcaps, Small Caps, or Nasd100 index funds. How would you weight it? So far, YTD we know Small Caps are leading just like they did in 2003 so I would definitely have them as part of my portfolio. We know that MidCaps have also performed very well since 2000 so that is a safe move. We know that once the strong 2328 resistance is broken on the Nasdaq that the Nasd100 could have a zoomer. The Nasd100 also did well in 2003, BUT they can they are risky because technology can fall out of favor quick.
I'm thinking I will rebalance to 33.3% in each and begin overweighting with the leader on each pullback to the 50dema. I'm looking for other ideas if you have any.
As always, I value your advice. You are an excellent contributor.>>>
Hi Jim
Per your question above its one I receive often. I personally would stay balanced. The Nasdaq made a first test of our key 2328 area a couple of weeks back and pulled in. It appears as though we're going to attempt another test of that area. If however, we clear our 2328-35 area convincingly I'd consider a somewhat higher weighting of Nasdaq related stocks. I have not studied the components of the Nasdaq 100 specifically. I know there are many of the old guard/large caps that continue to lag. Both the Russell 2000 and Mid Cap Groups are on breakouts technically. I suspect that 2006 could be a decent year for the Nasdaq if we clear our 2328-35 area convincingly as that move will take it into what I'd term a "Thin Zone" on the charts...one which will allow price to traverse rather quickly.
http://stockcharts.com/def/servlet/SC.web?c=$compq,uu[w,a]dhcayiay[d20000307,20061231][pc50!c200!f][...
If you study the BRCM chart over at my site you'll see that BRCM had a similar open price channel and we saw how quickly that stock ranup even prior to earnings last week. KLAC is another key stock to keep an eye on per the broad market winds and more specifically the techs. Its currently up against its 3 year downtrendline...$55ish being the key pivot here.
http://stockcharts.com/def/servlet/SC.web?c=klac,uu[w,a]dhcayiay[d20010307,20061231][pb50!b200!f][vc...
Hopefully some of the above helped!!!
Robb
Nice looking technical pattern as well...should find support at its 50 day on tests.
http://stockcharts.com/def/servlet/SC.web?c=qcom,uu[w,a]dhcayiay[d20050507,20061231][pb50!b200!f][vc...
>>>I still have my doubts for the bullish case for the NDX when I see stocks like DELL, AMGN, JNPR, and INTC dragging.>>>
AJ my take is out with the old guard (i.e. INTC, DELL, JNPR, CSCO, etc) with new $$$ flow going into the smaller/mid cap more nimble players. Rarely are leaders of a past bull market (late 90's) leaders of the next bull market due to massive overhang/resistance, multiple stock splits, size issues, etc. JMO we'll see as always.
Excellent entry imo....starting to see some ending diagonals/bullish wedges or channels on many indices....the SMH sets up well here for an objective entry.
http://stockcharts.com/def/servlet/SC.web?c=smh,uu[w,a]ehcayiay[d30][pf][vc60][iub14!la12,26,9!lp14,...
SP/NDX bullish divergences taking shape in their respective down channels/wedges.
http://stockcharts.com/def/servlet/SC.web?c=$spx,uu[w,a]ehcayiay[d30][pf][vc60][ila12,26,9!ub14][J55...
http://stockcharts.com/def/servlet/SC.web?c=$ndx,uu[w,a]ehcayiay[d30][pf][vc60][ila12,26,9!ub14!lp14...
Rails soaring premarket....CNI/NSC etc. Good shot for all time highs to print on $TRAN today.
Jim thanks....enjoy your insights as well...don't let them run RCPTrader off over on the Clearstation thread!