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Hi Chip
Thanks for the speedy reply and adjustments to the Sunset color scheme as it is now MUCH closer to the original SC1 version and that is appreciated. About the only other issue that I am noticing is that many (not all) of the trendlines (those annotated/drawn in blue) come across as slightly blurred. I've noticed this not only on my list but on others as well.
As I work more and more with the SC2 version of the charts I will submit any other significant issues that I may come across on your feedback form.
Thanks Again and Best Regards in the SC2 launch!
Robert
Thanks Marsh....he'll be happy when he checks his stocks later. Pretty good volume on the FORD move here.
FORD running some today on decent volume.
>>>Let me be clear: Yes, everyone will be "forced" to convert to SharpCharts2.
I have been saying that for months in the newsletters, in our FAQs and on our website. If that message somehow did not reach you until now I apologize, but that's the bottom line here and I don't want to fool anyone about it.>>>
Hi Chip
I have been maintaining a Page on your Public List for a number of years now and let me first state that your charting site is the best I've seen and I've thoroughly enjoyed the tools that the site offers. My experience with Stockcharts has been an enjoyable and pleasant one and have recommended your site to a number of current subscribers.
However, I must express some concerns with the new Beta 2 release. I read the post by "US Dollar" about the clarity of the charts and I agree that there is no comparison from the current charts to the Beta 2 charts. I find the Beta 2 charts very bland and poor when it comes to clarity. It was discouraging to hear that we are being "forced" to switch over to the Beta 2 Release. I have tried to find a color scheme that compares to the Sunset one I currently use and nothing comes close. The Beta 2 charts appear dull and of poorer quality in general appearance wise. I used the Beta 2 charts for a couple of days but received a tremendous amount of negative feedback on the color and clarity which sort of reaffirmed my personal concerns.
I hope you will find time to address this issue.
Thanks and Best Regards,
Robert New
SMH 5 Year Weekly setting up...
http://stockcharts.com/def/servlet/SC.web?c=smh,uu[w,a]whcayiay[d20010712,20061212][pc50!c200!f][vc6...
>>>Going into next week, the SPX could be in a bullish consolidation that would target 1345. A drop to around 1300 SPX would set that up nicely as well as take care of all of those SPY calls and puts at 130 tomorrow.>>>
AJ that is my read here as well. Seeing continuation h/s patterns take shape on the 60 Minute SP 500 and Nasdaq charts. Both patterns could use a right shoulder dip as you suggest above. Lets see if it plays out to that expectation.
Burk your read on the "potential" cup/handle pattern on the SOX is correct. I'm seeing quite a few semis start to make breakout moves out of large basing patterns...see my first post tonight. While I am not necessarily expecting that pattern objective to play out I would not rule it out either. Key pivot in the pattern is about 560ish.
Hi Euterpe1
If the Fed does in fact end their rate hike cycle I suspect your interest rate trade will play out well. I just don't have enough confidence in the current Fed governor yet to play that card. Also if the commodities were to break here that would surely help your cause.
Per the $WTIC I have a pattern projection of about $80-85 out of the current basing pattern. RSI and MACD while high are showing no indication of divergence yet nor either on the Histogram. I don't usually track the CCI.
http://stockcharts.com/def/servlet/SC.web?c=$wtic,uu[w,a]dhcayiay[dd][pc50!f][vc60][iub14!la12,26,9!...
Regards,
Robb
Looks like some rotation our of some metals here. Check out the volume on the reversal in PAAS...
http://stockcharts.com/def/servlet/SC.web?c=paas,uu[w,a]dhcayiay[d20030317,20061231][pb50!b200!f][vc...
And into the techs...
http://stockcharts.com/def/servlet/SC.web?c=crus,uu[w,a]whcayiay[d20020420,20060420][pb50!b200!f][vc...
http://stockcharts.com/def/servlet/SC.web?c=txn,uu[w,a]dhcayiay[d20050415,20061231][pb50!b200!f][vc6...
Bull Flag breakout here after the bell on strong earnings...
http://stockcharts.com/def/servlet/SC.web?c=brcm,uu[w,a]dhcayiay[d20050807,20061231][pb50!b200!f][vc...
http://stockcharts.com/def/servlet/SC.web?c=mrvl,uu[w,a]dhcayiay[d20050807,20061231][pb50!b200!f][vc...
http://stockcharts.com/def/servlet/SC.web?c=dgin,uu[w,a]dhcayiay[d20050707,20061231][pc50!c200!f][vc...
PCLN still looks interesting here...
http://stockcharts.com/def/servlet/SC.web?c=pcln,uu[w,a]dhcayiay[d20050807,20061231][pb50!b200!f][vc...
AT looks like its setting up in a Cup/Handle Pattern...60 Minute looks interesting as well.
http://stockcharts.com/def/servlet/SC.web?c=at,uu[w,a]dhcayiay[d20050812,20061212][pc50!c200!f][vc60...
http://stockcharts.com/def/servlet/SC.web?c=at,uu[w,a]ehcayiay[d30][pf][vc60][ila12,26,9][J74372081,...
Hi Zeev...Yes I was bothered also that FORD didnt generate sufficient volume once it broke out of its triangle pattern. You may be correct that it may need to test lower levels before finally bottoming. I am still in but more short term cautious on the play after todays action.
Robb
Hi Cannabis...
MOT tagged its 50/200 area of support on the low and bounced some.
http://stockcharts.com/def/servlet/SC.web?c=mot,uu[w,a]dhcayiay[d20050507,20061231][pb50!b200!f][vc6...
Looking for a potential buy in point on MOT at its lower uptrendline area IF and ONLY if its combined with bullish divergences on the 60 minute chart at that juncture.
Currently looks to be around the $21ish area. May need some time to settle out.
Hi Euterpe1...
All time highs today on the Russell 2000 and NYA (the Trannies a stone's throw away) three of the leaders off the 2002 lows continue to lead to the upside. Per the latest Investors Intelligence release the Bull/Bear spread is 48% to 26% more or less neutral and not necessarily what you'd expect with many indices breaking to all time and/or 5 year highs.
Potential cup/handle pattern in the making on the NDX. Watching that 1750-60 pivot closely.
http://stockcharts.com/def/servlet/SC.web?c=$ndx,uu[w,a]dhcayiay[dc][pb50!b200!b20!f][vc60][iub14!la...
Took about a third of positions off late today to see how key price pivots of 1750-60 NDX, 1315 SPX, 2375-2400 Nasdaq get handled in the coming days.
Best of luck in the Utes and Reits...I'm avoiding them as they tend to perform poorly in a rising rate environment. The Ten Year Note was up about a half point today.
Regards,
Robb
Hi AJ....congrats on making that necessary adjustment! One thing I think you and I can agree on is that you simply can't fade 60 minute divergences (bullish or bearish) when they lineup on the majority of index charts. Looks like we may get a test of that upper rising resistance line around 2400-2410 after all.
BTW that wouldn't be a cup/handle pattern in the making on the NDX would it??? Interesting how the MACD on the SOX on the recent move below 500 wouldn't budge south. I suspect the SOX is going to head back to that 540-550 area soon.
Looking like a potential breakaway gap on TXN out of this major basing pattern we discussed some time back.
http://stockcharts.com/def/servlet/SC.web?c=txn,uu[w,a]dhcayiay[d20050415,20061231][pb50!b200!f][vc6...
Regards,
Robb
Hi Bud...
>>>confounded again by confluence! (g)>>>
Amazing how that works huh??? <vbg>
Hi Burk
My short term trades are mostly predicated on the 60 Minute Index charts with an eye on daily supports/resistance. Long bullish divergences and to cash when bearish divergences form so long as the primary trend remains to the upside.
I am staying long until the index charts start to put in some negative divergences on the 60 minute charts. I don't so much look at levels to get in/out of but more importantly divergences between price and the oscillators. If they happen to line up with daily supports such as was the case this time on the Nasdaq at our 2300 support zone so much the better.
Per the Comp we have some resistance in the 2375 and 2400 areas. On the SP 500 we have resistance at that 1315 area that was tested about a week or so back.
2300 test and reversal on the Nasdaq.
http://stockcharts.com/def/servlet/SC.web?c=$compq,uu[w,a]dhcayiay[d20050402,20061231][pc50!c200!f][...
Dow perfect trendline test and bull flag breakout.
http://stockcharts.com/def/servlet/SC.web?c=$indu,uu[w,a]dhcayiay[d20050707,20061207][pc50!c200!f][v...
Here's the pattern in play....its common for bullish falling wedges to turn into inverse h/s bottoms. Very typical and common setup. MACD acted well on todays push up in the pattern.
http://stockcharts.com/def/servlet/SC.web?c=$spx,uu[w,a]ghcayiay[d10][pf][vc60][ila12,26,9][j5901948...
Hi Burk...60 Minute divergences all played out to their expectation...no need to repost charts. SPX 60 minute looks like it could form an inverse h/s pattern with a mild pullback off this 1300 area to say 1295ish which would have a pattern objective of about 1320. So far so good.
AD whats your "Under/Over" for the anticipated GOOG up/down move post earnings <g>
Hi Zeev...some of my work suggests that FORD may have bottomed out last week which is why I took a position in the play. It broke out of that 60 Minute triangle I posted over the weekend today and has potential to that $11.80 area where I'd expect some type of pullback. Ultimate objective is $15ish. Agree that it will run if/when $11.80 gets taken out as there is a "Thin Zone" above that area of resistance.
Regards,
Robb
P/S JCOM looks like its starting to setup to me here as well especially on the 60 Minute chart.
>>>>Seems fairly straightforward..watch 2300....I suppose it could be violated some and still be just a whipsaw...but a good break on volume would be a warning sign...until then...still an uptrend.
No sense trying to guess ....seems to me...>>>>
Hi Burk
We've been catching a lot of headwinds recently for a number of reasons. The breakout in oil, the recent Fed statement that they are targeting commodities now, some divergence on the SP 500 daily, etc. We are getting into the heart of earnings so lets study the nature of any 60 Minute bounce we may get here. If its weak and labored may be best to play it safe. Any break of 2300 with bullish divergence between price and most oscillators would keep me favorably inclined.
Robb
Hi Jim....ill pm that to you later in the week with some additional information.
MW 60 Minute bullish divergences on the following per MACD and RSI versus price. The 2300 area on the Nasdaq continues to provide support due to the rising support line off the October low and proximity of the 50 EMA.
http://stockcharts.com/def/servlet/SC.web?c=$wlsh,uu[w,a]ehcayiay[d30][pf][vc60][ila12,26,9!ub14][J5...
http://stockcharts.com/def/servlet/SC.web?c=$indu,uu[w,a]ehcayiay[pf][vc60][ila12,26,9!ub14][J517684...
http://stockcharts.com/def/servlet/SC.web?c=$compq,uu[w,a]ehcayiay[d30][pf][vc60][iub14!la12,26,9!lp...
http://stockcharts.com/def/servlet/SC.web?c=$spx,uu[w,a]ehcayiay[d30][pf][vc60][ila12,26,9!ub14][J55...
LG Excellent Chart Work...thanks for sharing.
Hi Zeev did you end up sticking with your FORD position? Technically it looks like its starting to look interesting and initiated a position on Friday. They have little long term debt and I've noticed the insider selling has completely shut down since the end of the year while the short interest is running quite high.
Here are a couple of views.
http://stockcharts.com/def/servlet/SC.web?c=FORD,uu[w,a]dhcayiay[d20050917,20061217][pb50!b200!f][vc...
Here on the 60 Minute chart volume has completely died and if it can clear the upper downtrendline around $9.80ish it should trigger volume and make a move.
http://stockcharts.com/def/servlet/SC.web?c=ford,uu[w,a]ehcayiay[d30][pf][vc60][iub14!la12,26,9][J74...
Regards,
Robb
Hi LG...Lets see how major support of 2300ish on the Nasdaq resolves. Here is what I'm watching and why the general 2300 area looks important. I remain in the bullish camp unless the 2300 area can be taken out with conviction. Did exit short term trading positions on the negative divergence that formed on our Gap/Crap last week per the 60 Minute Charts. Still watching them closely for signs of a Positive Divergence on the next swing lower after a bounce.
http://stockcharts.com/def/servlet/SC.web?c=$compq,uu[w,a]dhcayiay[d20050402,20061231][pc50!c200!f][...
If the 2300 area goes and we don't form bullish divergences in on the 60 Minute Charts on that move then I tip my cap to you and others who called for a top the past few weeks and wait for longer term uptrend supports to come into play.
Out of our Nasdaq consolidation I had a pattern projection of 2400 or near the top of that wedge. That and the fact that the SOX couldnt get to its upper trendline of 540 brings things into question somewhat.
Per the semis they are a mixed lot here. Looking at the SOX it looks mixed at best but the IGW appears more constructive. LRCX reported some good guidance after the bell so it will be interesting to see if some of the recent laggards such as KLAC, NVLS et. al. will be able to hold a bid. Congrats on the recent market action as you should be doing much better these days :)
Robb
AJ this is what I'm sort of looking for in terms of potential on the SOX. As you can see in the chart below a move to the 540-550 area would setup some nice patterns. My current read on our daily Naz triangle is for a pattern projection of about 2425ish. I'd suspect pullbacks will be contained at the 2325-35 area. Beyond that lets see how things setup. Good catch on that 2457 gap.
http://stockcharts.com/def/servlet/SC.web?c=$sox,uu[w,a]dhcayiay[d20050623,20061223][pc50!c200!f][vc...
AJ thanks you are providing some nice trading tools to keep watch on. I know you are big on the NDX and I agree it needs to get moving here. I was not aware of those percentages so thank you.
I have to say that I am seeing some major bases in the works in many of the techs that may allow them to play some catchup in the weeks ahead. My expectation is for the SOX to head back up to that 550-560 area and form some continuation h/s patterns before an upside move up and out towards a 630 objective.
Take a look at some of these huge bases forming in various industries.
http://stockcharts.com/def/servlet/SC.web?c=txn,uu[w,a]dhcayiay[d20050415,20061231][pb50!b200!f][vc6...
http://stockcharts.com/def/servlet/SC.web?c=low,uu[w,a]dhcayiay[dd][pb50!b200!f][vc60][ila12,26,9][J...
http://stockcharts.com/def/servlet/SC.web?c=xlnx,uu[w,a]dhcayiay[d20050707,20061231][pb50!b200!f][vc...
http://stockcharts.com/def/servlet/SC.web?c=$djushb,uu[w,a]dhcayiay[d20050507,20061231][pb50!b200!f]...
http://stockcharts.com/def/servlet/SC.web?c=goog,uu[w,a]dhcayiay[d20050607,20061231][pc50!c200!f][vc...
http://stockcharts.com/def/servlet/SC.web?c=rth,uu[w,a]dhcayiay[d20050307,20061231][pb50!b200!f][vc6...
http://stockcharts.com/def/servlet/SC.web?c=$djuswc,uu[w,a]dhcayiay[dd][pf][vc60][iub14!la12,26,9!lp...
http://stockcharts.com/def/servlet/SC.web?c=$djusbk,uu[w,a]dhcayiay[d20050615,20061231][pb50!b200!f]...
http://stockcharts.com/def/servlet/SC.web?c=$djuscl,uu[w,a]dhcayiay[dc][pb50!b200!f][vc60][ila12,26,...
http://stockcharts.com/def/servlet/SC.web?c=$djusol,uu[w,a]dhcayiay[dd][pb50!b200!f][vc60][ila12,26,...
I could post about 15 more sectors but you get the idea...there are many in long term bases either setting up or breaking to the upside here. If the NDX continues to lag I may join you but for now I'm giving the benefit to the bases that are setting up here.
LG thanks for taking the time to elaborate on your outlook as I have respected your work over the years going back to the old SI days. Since your rate of success is so high it will be more than interesting to see how things play out in the weeks ahead.
I work for a market timing service and scan maybe 1500 or so stocks most weeks and I have to say that my scans are currently showing more bases under accumulation than I've seen in quite some time. Perhaps they'll dress them up to take them down but I expect we see a significant upside advance on balance over the next couple of months. I would like to see us test our 2330/5 pivot after pulling away some but whether or not that occurs remains to be seen. The one wildcard is Oil. I've got a $80-85 objective out of the current pattern thats setting up. Very nice bases setting up in plays like CVX, RDC, PBR, PCZ, COP which has just broken out, et. al. If this plays to my expectation thats apt to create some headlines to say the least.
http://stockcharts.com/def/servlet/SC.web?c=$wtic,uu[w,a]dhcayiay[dd][pc50!f][vc60][ila12,26,9][J530...
Anyway will be interesting to see how things play out over the short to intermediate term.
Best Regards,
Robb
AJ thanks and good work. The Internets and SOX have been lagging somewhat holding down the NDX in recent weeks but I suspect they may play some catchup soon thanks to the 50 day recapture on the SOX today in additon to some favorable divergences on the HHH. The homebuilders ramped big today and the banks/brokers continue to act well leading me to believe the Fed is near the end of its rate hike cycle but as always only time will tell that tale. That is part of why I remain with a bullish slant.
Check out the Inverse h/s base in RYL here.
http://stockcharts.com/def/servlet/SC.web?c=ryl,uu[w,a]dhcayiay[d20050707,20061231][pb50!b200!f][vc6...
And the move in NVR....sent this to LG in a prior post.
http://stockcharts.com/def/servlet/SC.web?c=nvr,uu[w,a]dhcayiay[d20050707,20061231][pb50!b200!f][vc6...
Robb
Euterpe1 I suspect we'll head to the 2400-2430 area on the Nasdaq based on our recent triangle breakout and then we'll see how things setup. I am not looking for clear sailing of any sort to the 2800-2900 area. I was just pointing out the lack of price resistance through that zone. That was a good catch by AJ of that gap and yes I agree thats going to stop us for a while. Also the 5 year 1315 resistance level needs to be watched. I expect it to clear in time based on the pattern projection of 1450-1500 on the Monthly below. Note that even pullbacks to the 20 MA are common and to be expected in healthy uptrends.
http://stockcharts.com/def/servlet/SC.web?c=$spx,uu[w,a]mhcayiay[d19970520,20061220][pb50!b200!b20!f...
LG glad to hear you are hanging in unscathed. What level on the indices would it take for you to change your overall stance that we're in a topping process here?
BTW was that you who was pumping up the long side volume swing trading this setup today <g> Yeesh what a move here.
http://stockcharts.com/def/servlet/SC.web?c=nvr,uu[w,a]dhcayiay[d20050707,20061231][pb50!b200!f][vc6...
AJ as always your time and efforts are much appreciated and well may come to pass over time.
However, we continue to view the big picture from different sides of the fence thus our differing views in individual charts tends to make some sense.
I am taking my bullish stance from the lead of the Small/Mid Caps and the Transports the leaders off the 2002 lows.
As you can see here the move in the Russell 2000 has cleared any trendline resistance.
http://stockcharts.com/def/servlet/SC.web?c=$rut,uu[w,a]dhcayiay[d20030307,20061231][pb50!b200!f][vc...
Same story in the Mid Caps...
http://stockcharts.com/def/servlet/SC.web?c=$mid,uu[w,a]dhcayiay[d20030307,20061231][pb50!b200!f][vc...
Transports are also in a stealth bull move that can not be denied.
Also, per the Comp I'd suggest its not a rising wedge but rather a Cup/Handle Pattern that has a potential projection of about 3100.
http://stockcharts.com/def/servlet/SC.web?c=$compq,uu[w,a]dhcayiay[d20001007,20061231][pc50!c200!f][...
Note that volume on the clearance of our key 5 year 2328 resistance last month was the 2nd highest volume seen ever. I find that significant.
http://stockcharts.com/def/servlet/SC.web?c=$compq,uu[w,a]mhcayiay[d19990307,20061231][pb50!b200!i!f...
While I'm not "expecting" 3100 I am also not ruling that potential out either as that would only be a 50% retracement from the 2000 highs to the 2002 lows.
Bottom line if I see enough signs of topping at whatever level or juncture I'll adjust to that at the appropriate time as I am not fixed to any bullish or bearish posture. I'm currently seeing enough of the key groups/sectors act well or setup/breakout of long bases to suggest there is adequate support for this market to head higher over the near/mid term on balance. Also if your long term uptrendlines on the wedges that you've drawn play out that would be a major cause for concern no question.
Only the passage of time will tell how things play out. Again appreciate and enjoy your charts and insights.
Robb
N83 a lot of people no doubt were positioned on the wrong side of this move thus we're seeing some on edge here. It happens-we all have our moments-but the best traders adjust to the hand that is dealt them.
Burk I call it as I see it. If I see signs of topping which I currently don't on the major indices you know where to find that information. What I do know is many indices are on pattern breakouts with significant upside projections and MACD's on the dailies and 60 Minute charts are trending higher.
If you see anything bad on this Page/Page 6 I'd like to know what you see.
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID897936&cmd=show[s71053135]&disp=...
Good Trading....Robb
AJ you seem to disagree with every chart I post these days. Perhaps we can just agree to disagree :)))
Bud quite a few of the heavily weighted large caps are starting to put in bases and/or bottoming patterns that should be able to carry the indices higher IMO.
MSFT for example looks like its forming a nice cup/handle or ascending base that I suspect will clear resistance in time.
http://stockcharts.com/def/servlet/SC.web?c=msft,uu[w,a]dhcayiay[d20050722,20061231][pb50!b200!f][vc...