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A place for friends to gather and view stock market charts, discuss technical analysis and market outlook. What is your Principal Asset? How can it be developed? Each and all should do their own due dilligence and homework before investing. And by no means should you use anything I say or show here as a sole basis to buy or sell securities as everything is for educational experience only.

Wednesday, August 6, 2008

Decision making time for the market.....

Big decision day for the markets as economic data abounds prior to open Thursday:

-ECB announcnement
-Chain store sales
-Unemployment Claims

and at 10:00 am:
-Pending Home Sales
-Natural Gas report
-Consumer Credit

Crude is setting up for interim bounce off of Fib level and will resume downtrend after test of $121.50....Lookout $110 and top of 200 day EMA coming soon:
The VIX will tell the tale if the bottom is in or not:
The major indices are all brushing under their 50 day EMA's with the exception of the stronger IWM which has broken barely above:


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