Abet Chichi2

[chichi2]

Email as sent by Chichi2 to those who signed up for them.

$INDU forecasts drop to 10000 per chart from May30,
as posted on Chichi2 board 5 times (2xMay30,then posted Jun2,3,and4)
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=30168444

Be aware, the $INDU forecast using Wedge Formation projections, would give another 1800 to 1900 down projection.

Indices presently are in Oversold territory but we have been there before just this last week and it did not lead to a realistic rally. If this oversold rally does not lead to a realistic rally, it would not be good for the near-term. Note: Total_Put/Call ratio is the highest it has been since March17=1.48 June20Close=1.33 (you may recall March17 was the Low that started this Rally) Indeed, the Indices are Oversold.

McClellan Oscillators and Summations are still contained with Dnward channels. http://investorshub.advfn.com/boards/read_msg.aspx?message_id=30164870

Next Weeks Earnings are heavily in the Tech Stk areas.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=30168034

Per Paul Shread, who we post on our board periodically says>>
"Tech stocks have fared much better than their blue chip counterparts in recent months, but next week they will face a big test heading into the end of the quarter and the start of the earnings reporting period. Among the tech names reporting quarterly results next week are Jabil (NYSE: JBL) on Tuesday, Oracle (NASDAQ: ORCL), Red Hat (NYSE: RHT) and Research in Motion (NASDAQ: RIMM) on Wednesday, and Micron (NYSE: MU) and Palm (NASDAQ: PALM) on Thursday."

"The Federal Reserve will also meet next week, and investors will be watching the Fed's policy statement closely to see how long the central bank is willing to put off raising interest rates to stem inflation."

Note: Fed Mrkt Opns has been Draining funds from the Federal Reserve System, this action tends to (1) remove support from the Stock Market and (2) allows it to move down more easily, (3) it also tends to help decrease inflation pressures, and (4) allow interest rates to go Up and (5) among other things it tends to support the US Dollar. This week Funds were cut from $133.25 Billion to $117.25 Billion, a large cut of $16B, enough draining to exacerbate queasy markets, and strongly cause actions like I list above.

I suggest we should be extra careful in trading these next 3-4 weeks. Be Aware the 2nd Quarter Ends The Monday after Next so Investment Funds and Others will be smoothing QE for PR and payment purposes.

And the week after is July04 week, Thin_Trading with Mice Playing again, with one and two week vacations of many traders. Lots of chances for volatility and major moves up or dn, Think extra carefully how you trade these next weeks.
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this Email posted Jun20 by Chichi2.