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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.

Friday, July 16, 2010

Thursday, July 15, 2010

The US Dollar

Weekly chart from 2007:
Daily 6 month:

Strong dollar governmentaly policy?  I think not.

S&P daily pivots looking to bounce to bearish

Consolidation of the white and purple lines appears to be the bounce point for this latest 9 day bull run.  If this is the case it definitely gives favor to the Bears as a Lower high will be put in at the 1100 level.  If the Bulls fail and the downtrend stays intact the next point of interest will be the latest lows of 1010.
Breakout of 1100 or breakdown to 1000 and then 950?  Either way market coiled to move 100 points in less than 9 days.

Tuesday, July 13, 2010

MO - daily

Note the lack of volume on the run-up from 20. This is what makes the 21.53 level so important. The volume will come on a break above pushing to 22.80 or a failure to break accelerating the move back to 19.48 with pit stops at the averages 20.35.

MO - weekly

Weekly cup with handle breakout above 21.53 would mena short term target of 22.80. Failure to break above 21.53 means filure of HUGE 2.5 year pattern and eventual failure of 19.63 to hold. See next post on daily chart.


Monday, July 12, 2010


I believe the washing machine will be the trade of choice over the next six weeks. A lot of overhead resistance with very little volume behind the latest bullish move.

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