NUE

Nucor is ahead of the market...
looking to get long on the pullback

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

AZO

I think Autozone is the giveaway short above $165...

Bottom line is this will sell-off on any overall market strength

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

AAPL

Apple now hitting overhead resistance..

Does this look like a huge H&S pattern?
Problem is there is no left shoulder.......

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

S&P 500 longer term

The next resistance up is at 877 and then 944

Checkout the overhead resistance between those levels....
That range must hold for any long term Bullish case. That is IF it ever gets there......

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

$SPX Inverted H&S pattern

The S&P 500 60 day- 60 min chart is sporting a descending inverted Head and Shoulders pattern which appears have just completed the right shoulder.

What does this mean? Normally this is a bullish sign for the short term. So the 850-900 level is probable. But be aware that when the breakout fails it can be a violent swing to the down side.

How to trade- Using limited funds play the long side for the break higher, but only to load the heavy ammo short when tull run rolls over.

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

RIMM

RIMM exploding on earnings...

They improved their margins considerably

But this is an easy short from $65 back to $53.....

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

XLF

Financial ETF still falling be careful.....

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

RTH

Retail holders ETF banging its way to the 200 day EMA

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

Dow 30 on a 10 day 10 min

The Dow 30 as well as most of the major indices are sporting similar patterns on the 10 day - 10 min timeframe. The question is are we at the bottom of a bull trend or topping out on a shorter time period bear?

What I know is that the volume today was anemic on the way up and then when the 5 day EMA held as resistance the Bears came in earnest to drive the market down. From this we can discern that the trend in play is down with tightening up stops on the way....

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

$SPX

I believe the accurate terminolgy for the S&P 500 is "No man's land". Hard to get ong with conviction with the 5, 20 and 50 hour EMA's all falling. It's doubtful the 780 level will hold. Patience......

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

$INDU

Will the Dow hold 7450?

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

POT

Potash appears to be trading ahead of the overall market and may be a good indicator of things to come.

It's also shaping up for an easy long trade with a failrly tight stop at $79.45 just below the 200 hour EMA and 50% Fibonacci level. This level should act as support as the right shoulder of an inverted H&S pattern forms.

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

More FED speak...and the best analogy I could find

2009 Challenge Quarterly Update

Laughing all the way to the bar..........

S&P 500 2007-2009

If you can't see the pattern of the last 4 posts for yourself make a comment and I'll try to draw you a crayola picture of what to expect in the next month.

Here's a hint:

Near-term month: cautiously long looking for an exit or to -

get good short entry for eventual short-term test of 666 recent lows (which will hold and probably not be seen again)...

Then and only after the test of the lows bounce commences - get long and strong.....

There's the playbook-now go out and execute.....

Fibonacci lines drawn from top and 3 months prior low...

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

S&P 500 1999-2007

Fibonacci lines drawn from top and lows of 3 months prior

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

S&P 500 1972-1980

Fibonacci lines drawn from top and lows of prior 3 months....

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

S&P 500 1929-1935

Fibonacci lines drawn at top and lows of 3 months prior....

---

For the Web's best interactive charts, please visit http://www.Prophet.Net