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Bullish Falling Wedge forming on the Wilshire 5000...
http://stockcharts.com/def/servlet/SC.web?c=$wlsh,uu[w,a]fhcayiay[d20][pb50!b200!b20!f][vc60][ila12,...
AJ looks like we're forming an Inverse H/S Bottom on the 60 minute that projects to the 2170 area....may need to form a right shoulder first.
http://stockcharts.com/def/servlet/SC.web?c=$compq,uu[w,a]fhcayiay[d10][pb50!b200!b20!f][vc60][ila12...
Too many trapped shorts supporting the market on each dip.
AJ all well stated. A convincing break of 1215 and I'd have to hand it to the bears (e.g. break and failed backtest). I agree with your take on those wedges needing perhaps another test to or just below supports. Pretty good battle between the bulls and bears at some key levels. I expect once we resolve we'll get a nice directional move.
AJ bullish falling wedges forming on the indices back to major supports. Nice looking patterns taking shape here...
http://stockcharts.com/def/servlet/SC.web?c=$djusgs,uu[w,a]dhcayiay[dc][pb50!b200!f][vc60][ila12,26,...
http://stockcharts.com/def/servlet/SC.web?c=$djusgm,uu[w,a]dhcayiay[dc][pb50!b200!f][vc60][ila12,26,...
http://stockcharts.com/def/servlet/SC.web?c=$spx,uu[w,a]dhcayiay[dc][pb50!b200!b20!f][vc60][iub14!la...
http://stockcharts.com/def/servlet/SC.web?c=$wlsh,uu[w,a]dhcayiay[dc][pb50!b200!f][vc60][iub14!la12,...
Very common after a first breakout move out of a bullish falling wedge to see it form a right shoulder and turn into a continuation or inverse h/s pattern. Bullish divergence under recent price lows is a positive for the setup.
Nice job Jerry....had a similar note on my public list per AAPL as well....volume dried up nicely today on the pullback and we are now getting fairly oversold on the Nasdaq with todays pullback. Taking a few longs into next week.
AAPL and NVDA clearing some major resistance here.
Burk just saw that on ESPN....bizarre indeed :)
Looks like a falling wedge in play....I suggest bullish due to bullish divergence in the MACD at the past two price lows. More often than not that setup suggests bearish exhaustion.
http://stockcharts.com/def/servlet/SC.web?c=$compq,uu[w,a]fhcayiay[d10][pb50!b200!b20!f][vc60][ila12...
AJ nice look....we appear headed for a test of the top or close in time based on that divergence. Agree that it often takes 2 to 3 lower lows with higher MACD to seal the deal. Keep close watch on our downtrendlines...a couple are already making moves such as this one. Possible gapper tomorrow.
http://stockcharts.com/def/servlet/SC.web?c=$rut,uu[w,a]ehcayiay[pf][vc60][ila12,26,9][J53973011,Y]&...
2175 looks like a major pivot break on that wedge...that break would send the shorts running imo.
Jerry this looks bullish....went long.
http://stockcharts.com/def/servlet/SC.web?c=$compq,uu[w,a]fhcayiay[d10][pb50!b200!b20!f][vc60][ila12...
>>>Yup, they need to be respected, plexxus. However, I've noticed in bullish trends, the inverse H&S continuation patterns tend to rule at the expense of orthodox H&S patterns, so these are not patterns I'd want to trade or rely on, as I believe the bullish trend will reassert itself after this consolidation. I'd buy the dip.
The key for me here is 1480 NDX and 1216 SPX. Those areas of support will need to fail if those H&S patterns come to fruition.>>>
AJ agree fully....1216 has a confluence of supports....should that area break which I doubt on the next move down then all bets are off. My short term bias is lower but big picture higher in time.
Nice looking h/s patterns forming on the NDX and Naz.
http://stockcharts.com/def/servlet/SC.web?c=$ndx,uu[w,a]ehcayiay[pb50!b200!f][vc60][ila12,26,9][J566...
http://stockcharts.com/def/servlet/SC.web?c=$compq,uu[w,a]ehcayiay[d40][pb50!b200!b20!f][vc60][ila12...
Who's pumping NTES to $100?
INTC starting to look like a potential H/S Topping pattern...worth watching for its broad implications.
http://stockcharts.com/def/servlet/SC.web?c=intc,uu[w,a]dhcayiay[d20041107,20051207][pb50!b200!f][vc...
delete
QLGC in a nice bottoming pattern...big volume today on the turnup off support...
http://stockcharts.com/def/servlet/SC.web?c=qlgc,uu[w,a]dhcayiay[d20041107,20051207][pb50!b200!f][vc...
VLO cup/handle breakout projects to the low triple digits.
http://stockcharts.com/def/servlet/SC.web?c=vlo,uu[w,a]dhcayiay[d20041203,20051203][pb50!b200!f][vc6...
AJ nice work as always....a mild morning pullback would serve to setup some nice looking ascending triangles on those cup/handle patterns on the 30/60 minute charts. Have to agree with you that things still look favorable here for upside. MACD which has been diverging is flattening out and the big picture charts still have objectives of 2300-2550 Naz and 1300-50 on the SP 500.
How's up 10ish after hours???
http://data.island.com/ds/tools/bookviewer/htmlbook.jsp?STOCK=NTES
Running into a major TL on the Naz as well...you may have already posted this chart. Moved to 100% cash to see how this resolves.
http://stockcharts.com/def/servlet/SC.web?c=$compq,uu[w,a]whcayiay[df][pf][vc60][ila12,26,9][J487223...
MXIM sees a dramatic jump in orders late in the quarter.
http://www.investorshub.com/boards/read_msg.asp?message_id=7190711
Dramatic pickup in orders per MXIM...good news for the SOX which is forming a bullish triangle.
http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh24021_2005-08-01_21-48-29_n01...
http://stockcharts.com/def/servlet/SC.web?c=$sox,uu[w,a]fhcayiay[d15][pb50!b200!b20!f][vc60][ila12,2...
SOX triangle setting up on the 30 minute...normally a continuation of trend pattern.
http://stockcharts.com/def/servlet/SC.web?c=$sox,uu[w,a]fhcayiay[d15][pb50!b200!b20!f][vc60][ila12,2...
AJ if we get a mild corrective move here some nice patterns are likely to take shape. Looking for a move in AAPL to the 38-41 area to reposition in a right side shoulder of an inverse h/s pattern. My guess is the top of that gap holds this dip. Will rebuy a high volume hammer/reversal stick off that area.
http://stockcharts.com/def/servlet/SC.web?c=aapl,uu[w,a]dhcayiay[d20041122,20051222][pb50!b200!f][vc...
KLAC big volume b/o out of an inverse h/s pattern on the 6 month chart...
http://stockcharts.com/def/servlet/SC.web?c=klac,uu[w,a]dhcayiay[d20041107,20051207][pb50!b200!f][vc...
Triangle breakout and backtest on the longer term chart...
http://stockcharts.com/def/servlet/SC.web?c=klac,uu[w,a]dhcayiay[d20040215,20051215][pb50!b200!f][vc...
If 2185 breaks we should see some selling kick in....currently testing our uptrend channel support line. Negative divergences are now firmly in place.
http://stockcharts.com/def/servlet/SC.web?c=$compq,uu[w,a]ehcayiay[d40][pb50!b200!b20!f][vc60][ila12...
AJ looks like a symmetrical triangle is taking shape on the Nasdaq as well...pattern measures 25 pts.
http://stockcharts.com/def/servlet/SC.web?c=$compq,uu[w,a]fhcayiay[d10][pb50!b200!b20!f][vc60][ila12...
Lots of bullish triangles setting up for moves.
http://www.siliconinvestor.com/readmsg.aspx?msgid=21525595
Here are some of our semi updates....most are going higher near term.
http://www.siliconinvestor.com/readmsg.aspx?msgid=21525609
AJ here are some charts to watch over the next few days...
http://www.siliconinvestor.com/readmsg.aspx?msgid=21525595
Transports exploding up 120 pts now....stocks like YELL NSC FWRD breaking out here...
http://stockcharts.com/def/servlet/SC.web?c=$tran,uu[w,a]dhcayiay[d20041107,20051207][pb50!b200!f][v...
AJ I'd hazard a guess that we hold the top of that gap around 1570 tomorrow. In strong uptrends gaps often get left behind so a tap there and hammer or reversal end of week makes sense. Either way time will tell the tale as always. Just finished up a scan and there are a lot of nice plays setting up.
AJ essentially we're trading laterally the past week assuming tomorrow is down per the futures. This type of choppy condition in an uptrend serves to setup some very nice patterns. Most of the indices look like they are forming bullish flags here while we offset the overbought condition. Looking to reposition into the pullback as stocks pullback to key supports.
Have you checked out the charts of AAPL, HPQ, DELL....all in bullish patterns. More specifically the sector chart is set for a major upside advance. Your statement seems off base.
http://stockcharts.com/def/servlet/SC.web?c=$djuscr,uu[w,a]dhcayiay[d20041116,20051216][pb50!b200!f]...
PC Shipments better than expectations....good news for the PC Hardware and semiconductor groups.
http://biz.yahoo.com/ap/050718/pc_shipments.html?.v=5
Something else you might find interesting about that author is his lack of conviction. He posts over at Clearstation under "morenmore". He's been bearish for quite some time...here's his capitulation post just as his article went to press.
http://clearstation.etrade.com/cgi-bin/bbs?post_id=6677354&Refer=