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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.

Saturday, April 25, 2009

MO for Bruno

Let's take a look at MO for Bruno using Pivot points and channel lines:

By entering in daily, weekly, monthly, Quarterly, & Yearly timeframes we can get a sense of what a particular equity is facing for trading ranges.


Now throw in some channel lines and we get a few levels we can expect MO to meet resistance or gather on support. Currently MO is trading slightly above the weekly Pivot point and a failure to hold this level could send the stock down the channel. Otherwise there are levels of resistance to be met as the upward channel grinds slowly sideways.
Bottom-line - this is a great tool for setting entry/exit points and stops. Toss in the Fibonacci levels for good measure and make a plan...

Friday, April 24, 2009

$SPX


Can you see it? It's like a great big magnet pulling the Bulls to the 200 day EMA and the completion of the Inverted H&S as well as another cup top........

DO NOT FIGHT THE TREND.....

BUY THE DIPS UNTIL 925......


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

XLF


Looks like the Stress Test was a wash and the Bulls have the con working a little higher. The only thing to watch for is the descending 200 day EMA and then the battle will commence in earnest.......


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

Thursday, April 23, 2009

XLF





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

SPY patterns


Well you can pick your poinson, err I mean pattern because it's anyones guess what the new direction will be. This chart is looking more and more bullish, but a failed breakout or failure or either pattern could send this to the Bear targets of 800 and 750. No doubt it is going to be interesting and fun to trade.

AAPL


If you had the stomach to get short AAPL at the top of the channel today within an hour you were in the money by $4.40 and hopefully out before the close.

AAPL apparently reported strong earnings after the close and is now trading 125.10 or back to just below the channel. The same trade could be put on again, but the stop better be VERY tight.

Here's a fairly thorough article on AAPL earnings and an explaination of the guidance. Definitely worth the read for you valuation types:

http://www.istockanalyst.com/article/viewarticlepaged/articleid/3204080/pageid/1

The interesting thing is that even this good news from AAPL was not enough to raise the futures.

Thursday the battle will be hinging on unemployment numbers out at 8:30 est. A number above 700,000 could be in order as this is the first full week reported after the Easter Holiday. If that's the case lookout below. Also tomorrow will be home sales data at 10am another market mover and possibly more fuel to the selloff if Unemployment sends it down at the open.

Bloomberg.com:

"Initial jobless claims for the latest week fell to a much lower-than-expected level of 610,000, down 53,000 from the 663,000 in the prior week. But the latest data are for the holiday shortened Easter/Passover week of April 11. The Labor Department warned that the results were heavily affected by adjustments. The four-week average came in at 651,000. But the really negative news was that continuing claims for the April 4 week jumped again to another historical record, up 172,000 to above 6 million at 6.02 million. This coming week, we may see a jump in initial claims, coming off the holiday week before."

Wednesday, April 22, 2009

Tuesday, April 21, 2009

SPY - Intaday H&S pattern


will we see the lows before the close?


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

SPY


So muc h for 83....

Is now upward resistance and Bear support.....

Next Pit stop 82 on the way to 80 perhaps by tomorrow


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

XLE


Descending triangle formation on XLE.....

Hard to see recovery FUELED by wind......

XLF


XLF to find support at $9.45

PTR


Shorting PTR above $93

GOOG


Shorting GOOG above 400


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

CLX


Shorting CLX


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

SPY action for today and forward


First the chain of 30 minute lower lows will continue until a lower high is made.

Second the market may rally back to 85 or the underside of the uptrend.

Third continue the fall to 760

This may take one day or the rest of the week or month. The longer the duration the bigger the Bull case for recovery gets.

AMZN


AMZN reports earnings after the close on Thursday. The latest analyst report upgraded from neutral to a buy.....The same guy down-graded AMZN when it was at $52. Looking at the chart it appears to fall into the get ready to short category. Anything above $80 would make a good entry for the ride to $62...

AAPL


AAPL is and has been on many favorite short list over the last couple of years. I believe this 6 week Bear market rally has been fueled by short covering and as 50%-100% and in some stocks 1000% gains will quickly erode as profits are taken and safer plays in REAL long term winners are made.

Shorting AAPL at tops of channels with stops just on the other side....


ORCL


For the long term investor Oracle is one to pick up on the dips....


Monday, April 20, 2009

$VIX


VIX heading back up

SPY - Next Pit stop 83





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

EUR/JPY


A global look using the Euro/Yen...

It appears this too is rolling over back to 112 confirming the Euro is weak globally



Let's not forget GOLD


Here's a 5yr weekly showing support at the 20 week EMA and possibly a cup with handle. A lot of the funds to prop the Equities market came out of Gold. Will it go back in pushing Gold price back up to 975?


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

Crude oil rollover back to $42?


I believe the previous three posts of the 10 yr, Eur/Dol, and Crude will show the short term direction....

As the Dollar strengthens pressure will be put on Crude, Eur/Dol, & the 10 yr note.

Ask yourself a few questions:

  1. Is a strong dollar GOOD for the overall global economy or just the US?
  2. Why is the dollar getting stronger?
  3. Could other countries be getting weaker by cutting rates such as the ECB?
  4. How will it affect PRICE in the US market short-term/long-term?
  5. If US consumers are strapped for cash and global markets are following the US in economic cycle, what does this say about the strength of the GLOBAL economy?

Point being who is buying? I'm finding it difficult to find customers in any segment anywhere with true motivation to BUY.

The weekly chart of Crude shows the channel lines in play with a lower Fibonacci level at $42.88.

EUR/USD


Bear flag on the Euro/Dollar broken.....

More global weakness....


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

10 year note


Some things to keep an eye on....


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