AI
Thursday, July 08, 2010 1:22:26 PM
So far we have had a nice follow through day, consolidating yesterday’s gains and making slightly higher gains, considering that we are in the summer months the volume is pretty decent.
Earnings start in earnest week after next and this would be the ideal time to run upwards into that period if not further.
While I’m prejudice in that I hold GE in my 401k, it may be wise to keep an eye on it in the coming week. It reports earnings 1 week from tomorrow.
If the rally for GE is real, than it needs to bust through its Quadruple resistance between 15.12 – 15.31 no later than tomorrow.
15.12 middle Bollinger band
15.21 reactionary high from the previous 2.5wk cycle
15.25-15.28 approximate downward slanting resistance
15.31 Sar buy signal on the daily chart
http://www.marketwatch.com/story/on-ge-investors-and-wall-street-dont-agree-2010-07-08?siteid=yhoof
Earnings start in earnest week after next and this would be the ideal time to run upwards into that period if not further.
While I’m prejudice in that I hold GE in my 401k, it may be wise to keep an eye on it in the coming week. It reports earnings 1 week from tomorrow.
If the rally for GE is real, than it needs to bust through its Quadruple resistance between 15.12 – 15.31 no later than tomorrow.
15.12 middle Bollinger band
15.21 reactionary high from the previous 2.5wk cycle
15.25-15.28 approximate downward slanting resistance
15.31 Sar buy signal on the daily chart
http://www.marketwatch.com/story/on-ge-investors-and-wall-street-dont-agree-2010-07-08?siteid=yhoof
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