EWZuber
1,373 posts
msg #32106
- Ignore EWZuber |
5/17/2004 6:16:32 PM
Looks like the .COMP will be testing 1800 as support at the 15 MO.MA.
So far the index has not violated the short term Supporting TL that was formed today on the Hourly chart but stochastics in that time frame have only just completely converged at an overbought cycle top. So distribution has not started yet in this latest cycle on the Hourly Chart.
A 1 Hour candlestick closing below about 1875 tomorrow will likely trigger an avalanche of selling.
JMHO
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EWZuber
1,373 posts
msg #32117
- Ignore EWZuber |
5/18/2004 12:46:45 PM
Several Gold stocks are starting to look good like KGC, CBJ, GSS, IAG & RANGY.
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TheRumpledOne
6,411 posts
msg #32121
- Ignore TheRumpledOne |
5/18/2004 3:56:09 PM
THANK YOU FOR STARTING A NEW THREAD.
MAY ALL YOUR FILLS BE COMPLETE.
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EWZuber
1,373 posts
msg #32129
- Ignore EWZuber |
5/19/2004 3:31:44 PM
.COMP did not close the next session below 1875 ( from 5/17 post ) and actually showed strength towards the close yesterday. Todays move has brought the .COMP into accumulation on the daily and Weekly charts, so I would expect an uptrend for at least a week or two. With Monthly Chart still in distribution the upside could be mitigated but looking to test the 25 DMA at a minimum. ( @ 1860 & falling ).
Today the index bounced down off of resistance at the last cycle high at 1838 formed on 5/13.
JMHO
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EWZuber
1,373 posts
msg #32130
- Ignore EWZuber |
5/19/2004 3:37:27 PM
Gold stocks doing well today, particularly CBJ up 8% and RANGY up 8.3%.
The HUI also began a Weekly Chart accumulation phase recently with the stocks mentioned here also beginning a Monthly Chart accumulation phase. This gives us 3 stochastic time periods all in accumulation.]
The HUI will still have a large impact on these though and I suspect it has not yet bottomed.
JMHO
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txtrapper
548 posts
msg #32132
- Ignore txtrapper |
5/19/2004 8:15:11 PM
NASDCOMP ...
NASD COMPOSITE INDEX W/VOL 1,898.170 +0.350 +0.02%
Today the index closed higher, close to its low (sign of weakness) with a higher high and a higher low. The volume is normal. The index value is trending down.
Today a Black Candlestick formed. Sellers were in control but the selling pressure was not very strong.
TxTrapper
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EWZuber
1,373 posts
msg #32138
- Ignore EWZuber |
5/20/2004 4:17:27 AM
I view todays move in the NASDAQ as a sucker play. Big money gapped the markets up using emotions regarding the good earnings news to lure in retail traders then sold into the strength, effectively taking everyones money.
This mornings gap was closed and the NASDAQ is oversold on the Hourly Chart. It closed just 1 point above short term TL Support at 1897, so it looks well positioned for a bounce tomorrow but not expecting much due to market weakness.
I suspect that institutions want out of positions no matter if earnings are good or not because of imminent prime rate increases. They will use the bullish emotions generated by any 'good news' and sell into the strength when it reaches resistance.
The recent move higher in the Gold sector has been much more stable and has been acting more like a typical oversold bounce that is not plagued by underlying fear. HUI is up about 11% above the performance of the NASDAQ since 5/7. Today the HUI it was held back by resistance at the 25 DMA at 186.
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EWZuber
1,373 posts
msg #32165
- Ignore EWZuber |
5/24/2004 12:15:27 AM
Within the past 4 sessions there has been a major shift in the Market Monitor screens that watch for -Xover vs +Xover of weekly charts for individual stocks in all markets. The shift indicates that the weekly chart accumulation phase is likely beginning. However, so far there is no indication that this will be anything more than a rise to test resistance.
Gold stocks have been doing well and RANGY seems to be leading the picks.
The HUI has been riding higher on the 25 HR.MA very nicely.
The .DJIA is testing the 50 WK.MA as support at 9967 while the Weekly Chart accumulation phase is trying to begin.
Looks like a decent set up.
JMHO
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EWZuber
1,373 posts
msg #32172
- Ignore EWZuber |
5/24/2004 8:11:03 PM
Gold continues its move higher even while overbought. Looks very good. The HUI appears to be rising to test the 50 DMA @ 205. If it breaks that resistance and successfully tests it as support there is little resistance until the Resistance TL at 230 ( & falling ). JMHO
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EWZuber
1,373 posts
msg #32224
- Ignore EWZuber |
6/1/2004 11:59:25 PM
I suspect ARTX is about to move higher soon. With considerable short interest and stochastics aligning in phase it could be very substantial.
Gold stocks taking a breather near resistance. The depth of this distribution phase on daily Charts will be important to the overall rise in the index.
Looks like resistance near 228 may still be tested.
JMHO
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