XLE

---

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

PM - Phillip Morris International

	Day	Week	Month	Quarter	Year
R3 = High + 2(Pivot - Low)	38.11	40.18	42.20	55.58	75.75
R2 = Pivot + (R1 - S1)	37.73	39.07	40.58	49.99	64.99
R1 = (2*Pivot) - Low	36.96	38.25	38.39	42.78	53.94
PIVOT = (High + Close + Low)/3	36.58	37.14	36.77	37.19	43.18
S1 = (2*Pivot) - High	35.81	36.32	34.58	29.98	32.13
S2 = Pivot - (R1 - S1)	35.43	35.21	32.96	24.39	21.37
S3 = Low - 2(Hi - Pivot)	34.66	34.39	30.77	17.18	10.32

 

MA for 40 more points?

Look to pick up some MA on the pull-backs as this is looking like a massive H&S pattern trying to form the right shoulder to $220. Will be a nice trade there for the $100 fall back to $120.

---

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

ETFC - H&S

Looks like E-trade is on the fast track with a pit stop at $1.19 back to $0.59.........

---

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

MO - Pivots

	Day	Week	Month	Quarter	Year
R3 = High + 2(Pivot - Low)	17.41	18.23	18.77	20.72	30.05
R2 = Pivot + (R1 - S1)	17.20	17.79	18.06	19.06	26.60
R1 = (2*Pivot) - Low	16.76	17.35	17.19	17.54	20.68
PIVOT = (High + Close + Low)/3	16.55	16.91	16.48	15.88	17.23
S1 = (2*Pivot) - High	16.11	16.47	15.61	14.36	11.31
S2 = Pivot - (R1 - S1)	15.90	16.03	14.90	12.70	7.86
S3 = Low - 2(Hi - Pivot)	15.46	15.59	14.03	11.18	1.94

 

MO -SELLOFF on an hourly

The selloff in MO began back on 4/22 as lower highs and lower lows were being made. The formation and breakdown of the triangle with a bottom at $16.51 finally gave way and blew all the way to the Weekly support 1 line of $16.47 which briefly held to stop near fibbonacci level 161.8% or $16.32.

Typically a retracement back to $16.51 will be seen where a battle will commence for control.

XLF

No Breakout from this triangle.......

---

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

$SPX - Monthly Pivots

New Monthly Pivots as of today's close....

---

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

$TNX

BE CAREFUL.....

---

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

$SPX - Breakout?

Was that the breakout? 882.06 for the Bulls did not break into the next higher channel and the Bad GDP, Pandemic Flu, nor the Fed doing nothing and warning of "slowing recession rate" could keep the Bulls from blasting higher.

Bottom line is:
The "breakout" of today failed to hold the 875 level - advantage Bears

UNLESS 882.60 is broken to the upside and held over the next two days....

---

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

SPY

---

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

Barnes & Noble

With Amazon and the Kindle how will Book store companies survive with the media changing from print to digital?

Chartwise BKS is sporting topping action at the $26.67 level....If it does not clear.... $23 will come fast....

SPY 5 day - 30 min

Chart shows the market getting weaker over the last 3 days....Nothing has really changed...

875 still the level for the Bulls

838 level for the Bears

---

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

SPY 5day/30min

/chart showing how the Pivot points are drawing action. This market is getting weaker over the last three days......Does the Fed have something up their sleeve to spook this market?

---

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

XLF - Still in the box

SPY - More chop

Be careful as the Bulls needed to "Breakout" over 875 on the S&P....Failure to do so nullifies Inverted H&S pattern as well as recent Cup with Handle giving the edge to "Da Bears"........

Speaking of the Bears....It'll be fun to watch football in Chicago again as the bears now have Jay Cutler as a hurler. If they picked up some unknown wideout from, oh let's say App State for him to throw to .....As Howard Cosell used tout, "They could go all the way"..........

H&S pattern explaination websites

I've been thinking about last weekend's Bearish charts and the subsequent Bullish action last week. Now this weekend everything looks Bullish......

Hmmmm, what is one to do?

Basically, I included the H&S educational sites to show that whatever happens we should be looking for a breakout on Friday's completion of the Inverted H&S patterns.

1. http://www.investopedia.com/terms/i/inverseheadandshoulders.asp
2. http://www.onlinetradingconcepts.com/TechnicalAnalysis/ClassicCharting/HeadShoulders.html
3. http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:head_and_shoulders_b

The questions are:

1. Will there be a breakout above 875?
2. If it happens how far will the Bulls run? S&P 900-925?
3. And when it eventually tops out and rolls over will the current prices S&P 875 hold as support?
4. If the breakout fails is it 750-800 here we come..........