Trading and investing
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Agteed, MEVT looks good, Nice chart work.
Thanks Red, Hope you had a great Holiday season, also
Slowing Volume is part of the consolidation pattern of the Cup and Handle:
The cup and handle forms as an intermediate/secondary cycle correction before the primary cycle resumes its up-trend. The pattern is a form of (ascending) triangle.
The cup pattern should take a minimum of 7 weeks to form. There is no upper limit with some patterns taking as long as a year. The handle may form over one or two weeks but may also take several months.
1.The cup commences with a new peak [1], formed after a strong up-trend.
2.A secondary correction occurs, with price falling +/- 50% from the peak at [1]. This is high - cup and handle corrections normally vary between 10% and 30%.
3.The stock then forms a second peak at [3], slightly lower than the first.
4.The handle is completed [4] when price breaks above the intervening peak [3]. The handle should form in the top half of the cup pattern, with volume contracting as the trough forms and then expanding on the breakout.
5.A smaller cup and handle pattern follows with the cup completed at [5] and the handle completed by the subsequent breakout above $4.00. Again, observe how volume contracts as the handle forms and then rises sharply at the breakout.
Happy New Year, in 2010 I'm looking for the Mkt.to make new highs, like this chart shows between 1996 - 2000; the commodities should go lower and stocks up. Notice the $BDI goes up when the $USD is doing well. $BDI (Trade shipping) Fell when the $HGX (housing mkt) fell and every thing followed except the commodities.
Wishing you all a Merry Christmas and a Happy New Year, I'll be back after New Years.
Happy Holidays, and Merry Christmas, Sheepdog
Agreed .. they needed money for the up-listing process
ETIM was on their way to higher PPS when they announced their plans for Up-Listing to a higher Mkt INDX ... that is when the MMs started moving the chart from positive Head and Shoulder bottom Pattern to a Negative top Head and shoulder ... If ETIM had continued on the path to strengthening their company before going to a higher MKT I believe their company, chart, and PPS would have been in much better shape ... up-listing is a long drawn out strain on a small company financial ... IMO they will gain in strength with their Company, chart and PPS from here, if they will patiently and frugally grow their company.
This is the earliest PR on their up-listing I was able to find... http://ih.advfn.com/p.php?pid=nmona&cb=1261165237&article=21881019&symbol=NO%5EETIM ...
I was trying to find the first announced dated PR to compare it with the chart... I have marked on the chart where I believe this announcement occurred.
2006 - 2007 chart below ... and 2009 Chart:
Consolidation should continue for a time because of the 200 day being so far below the PPS .. The CMF 60 is a measure for small lot shares. CMF 20 for medium and CMF 5 for large lot buy and sell of shares.
Notice on this large Daily 10 Year chart the PPS is at this time farther from the 200 day that it has ever been. The chart needs consolidation to bring it back in line.
Symmetrical Triangle Consolidation
I noticed there is a slight uptick on ChiOsc on the WAVE chart, this causes the pincher to have slight improved possibilities.
I don't think that Fed report will change the direction of the MKT ... just a continuation with some positive aspects within the report.
$INDU Charts and ... The Dow closed lower due to profit taking on Tuesday, as it consolidated some of the rally off last week's low. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If the Dow renews this year's rally, the 62% retracement level of the 2007-2008-decline crossing at 11249 is the next upside target. First resistance is the reaction high crossing at 10516. Second resistance is the 62% retracement level of the 2007-2008-decline crossing at 11249.
Closes below the reaction low crossing at 10231 would confirm that a short-term top has been posted. First support is last Wednesday's low crossing at 10235. Second support is the reaction low crossing at 10231. http://quotes.ino.com/exchanges/?c=indexes
$INDU Daily 2 year Chart:
$INDU Daily 20 year Chart:
$INDU Charts and ... The Dow closed lower due to profit taking on Tuesday, as it consolidated some of the rally off last week's low. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If the Dow renews this year's rally, the 62% retracement level of the 2007-2008-decline crossing at 11249 is the next upside target. First resistance is the reaction high crossing at 10516. Second resistance is the 62% retracement level of the 2007-2008-decline crossing at 11249.
Closes below the reaction low crossing at 10231 would confirm that a short-term top has been posted. First support is last Wednesday's low crossing at 10235. Second support is the reaction low crossing at 10231. http://quotes.ino.com/exchanges/?c=indexes
$INDU Daily 2 year Chart:
$INDU Daily 20 year Chart:
$INDU Charts and ... The Dow closed lower due to profit taking on Tuesday, as it consolidated some of the rally off last week's low. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If the Dow renews this year's rally, the 62% retracement level of the 2007-2008-decline crossing at 11249 is the next upside target. First resistance is the reaction high crossing at 10516. Second resistance is the 62% retracement level of the 2007-2008-decline crossing at 11249.
Closes below the reaction low crossing at 10231 would confirm that a short-term top has been posted. First support is last Wednesday's low crossing at 10235. Second support is the reaction low crossing at 10231. http://quotes.ino.com/exchanges/?c=indexes
$INDU Daily 2 year Chart:
$INDU Daily 20 year Chart:
Thanks Tony
LOL