INDU - W shows signs of turning up but is right at the green line. D has successfully made it past the 20ma on the D and still has MACDs wide open upwards. It's exactly at the the recent ceiling that has twice pushed it down - meets the purple line and 50ma on the 233. MACDs there closing a bit, other indicators also turning downwards. a/w completed on both the 233 and 55.
Expect this to retrace a bit in the short term. Size of retrace will be likely limited, perhaps to the 20ma on the 233, or the BBB on the 55.
VIX - W is turning over downwards. D finally made it past the 20ma on its way down and still has some room to go here with the MACDs open. Mirroring what we saw on the INDU, the VIX is at recent support on the 233, that twice has pushed the fear back up. However the indicators here do not show much sign of turning. Further reason to expect any retrace to be short-lived. A retrace may only be the size of the BBs on the 55 or 34.
COMP - W shows signs of turning. D made it past the 20ma on the way up and the MACD is open upwards. 233 indicators look like the want to turn over downwards and have just met up with the 50ma.
Expect a retrace here as well, probably the size of the 55 BBs.
VXN - W is turning over downwards. the D has made it past the 20ma with MACD wide open downwards. It's actually closed slightly lower than the recent floor but it could turn up as well as that's the next direction for it on the 233 and 55 which just completed a/w's.
This will probably continue down till the D hits the nearby BBB.
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$BIX - W is turning upwards with what could become a bullish divergence. D got past the 20ma with MACD open upwards but is still at recent highs. the 233 is up against some layered resistance with a recent purple line, the 50ma bunched together and the 200ma not far above. There will likely be some small retrace here to perhaps ~164 or next ~160.
$OIX - W has tried to turn up. The D setup is like the INDU - at recent highs, past the 20ma and with MACDs open upwards. The 233 just completed an a/w, met the recent purple resistance and the 50ma and the indicators are sort of turning downwards. Some retrace was already done on the 55 and 34; basically testing the 50ma on the 233. Oil should be, could be, headed up from here.
$OSX - W is just beginning to turn. The D didn't make it past the 20ma but the MACD still has some hope. 233 looks like it wants to turn over but there isn't much room south on teh 55 or 34 and this will probably only retrace till the 20ma or so on the 233.
$XNG - almost exactly similar to the setup on $OIX
$SOX - W just made a tweezer bottom and is turning. D has made it all the way up to the 20ma with MACD open. the 233 is sort of beginning to turn over, but there isn't too much room on the 55 or 34, the latter just completing an a/w. Probably will pause a little and then continue on.
$TAU - W is sort of beginning to turn up. D did make a HRFP going up but last 2 days have been somewhat flat. MACD is still open though. 233 is sort of turning but the squeeze on the 55 and 34 is quite strong.
$CRX - W is trying to turn up. D didn't make it through the 20ma. 233 is sort of turning over. Again - a short-lived retrace is possible.
GYA0 - W is just barely turning. D went up and then turned down off teh 20ma.
$CYC - W just starting to turn up. D didn't quite reach the 20ma. Trending a little flat right now.
$XBD - W starting to turn. D climbed up but only just to the 20ma with MACDs open. 233 crossed its 20ma and MACD is still open. Flat to slight retrace expected.
$INX - W starting to turn up. D got up to the 20ma with MACD open. 233 looks like it got kicked down by the 50ma and is turning over. However it's pretty much at the bottom of the 55 and 34. Not much more room here to go south.
$TXX - W turning up. D up and got past the 20ma with MACD open. 233 sort of stuck under the 50ma and turning over. However there's a tight squeeze on both the 55 and 34. This will probably slide a little and then break upwards.
GI8A0 - W turning up. D got up past the 20ma, MACDs open upwards. 233 is stuck under the 50ma and sort of turning over. Some but not a lot of room south on the 55 and 34.
$XCI - W beginning to turn. D reached barely north of the 20ma. 233 is stuck under the 50ma and turning over. Tight squeeze on 55 and 34.
$DRG - W has improved upwards since what looks like a tweezer bottom. D also up through the 20ma though just below recent resistance. 233 is trending flat and just recently got past the 50ma. This will be mostly flat in the short term.
$BTK - W is turning up. D has made a strong move well past the 20ma but again just at recent resistance with MACDs open. 233 also shows it's just under that recent resistance. It recently made it past the 50ma and the MACD is still open.
$DJUSHB - W just started to turn. D is up with MACD open but at resistance. Also just below the 50ma on the 233 with indicators starting to turn over. There will be some brief retrace, probably to the 34 BBB, 233's green line or D's 20ma.
$DJUSHC - W starting to turn. D is up with MACD open but just below recent resistance. 233 just under the 50ma. 55 and 34 have up a/w's just completed.
$RLX -
Tuesday, November 4, 2008
Friday, October 31, 2008
10-31-2008 Thu pm
INDU - could be the start of a recovery (W is showing signs of turning but no guarantee; indicators haven't crossed or triggered). this could also be a place to pause or for some to take some profits (D is at recent resistance and at 20ma, though MACD is open upwards). there is a ceiling near 9400 where the 233 BBB, 50ma and purple line are layered. if it breaks through that, there is relatively resistance uncluttered space until 10300. last couple of days have largely been sideways movement and neither the 55 or 34 show any strong tendencies. the BBB on both are rising, they will probably strike the candles and then push them higher.
VIX - W has shown the first candle bringing fear back down inside the BBs. however, it has only come down to the 20ma on the D off which it has been bouncing up repeatedly recently. the MACD on the D and 233 are both indicating continued abatement in fear but the 50ma on the 233 could kick fear back up as well. on both the 233 and 55 the next move for fear is up though the indicators don't show imminent uptick.
Summary - there is some short term room for further improvement. it will be interesting to note the action on both the INDU and VIX as both are near recent ceilings and supports respectively.
COMP -W shows some signs of wanting to turn. the candle that could form a neat tweezer bottom is nearly done. Some potential here for tech stocks. makes sense if we believe the bad news for tech stocks is mostly done being revealed. D showed a DE and still has MACD open upwards but is right against the 20ma. the MACD on the 233 is also open, indicators recently made it past the recently obstinate 20ma and this could get to the 1780-1800 range. it's made the TBB on the 55 and 34, but through significant MAs on both and there may only be slight trace backs.
VXN - W is at the start of an early turn, nothing for granted. D and 233 though both have good indications that fear here is on the retreat. however, again, the D is near the recent fear-support at 20ma and the 233 near the 50ma fear support. So watch carefully. MACD suggest this could go through and show us further reduction in fear. Keep in mind the next possible move on the 55 and 34 for fear is to increase.
Summary - overall, the suggestion is that the tech sector could improve a bit further. there could be some short term good news for tech in the next few days. however, with the economy the way it is, don't assume this is the final turn and that things are going to get rosier for ever.
$BIX - this just paused recently on the D 20ma. Some of the recent uptick has been taken out in what seems like profit taking. however both the 55 nad 34 suggest the next move is up. there's good potential support just below.
$OIX - this right near some recent resistance, and though the MACD on teh D and 233 are open upwards, this has showed a tendency to swing down without too much advance notice on the MACD recently. right now gas prices (2.65) are at a level last seen in Apr 2007. And back then the world economy outlook wasn't so bad. Don't assume things are automatically recoverd. though we could see some nice uptick here given the hammering lately, and the fact that the weather is starting to get colder.
$OSX -
VIX - W has shown the first candle bringing fear back down inside the BBs. however, it has only come down to the 20ma on the D off which it has been bouncing up repeatedly recently. the MACD on the D and 233 are both indicating continued abatement in fear but the 50ma on the 233 could kick fear back up as well. on both the 233 and 55 the next move for fear is up though the indicators don't show imminent uptick.
Summary - there is some short term room for further improvement. it will be interesting to note the action on both the INDU and VIX as both are near recent ceilings and supports respectively.
COMP -W shows some signs of wanting to turn. the candle that could form a neat tweezer bottom is nearly done. Some potential here for tech stocks. makes sense if we believe the bad news for tech stocks is mostly done being revealed. D showed a DE and still has MACD open upwards but is right against the 20ma. the MACD on the 233 is also open, indicators recently made it past the recently obstinate 20ma and this could get to the 1780-1800 range. it's made the TBB on the 55 and 34, but through significant MAs on both and there may only be slight trace backs.
VXN - W is at the start of an early turn, nothing for granted. D and 233 though both have good indications that fear here is on the retreat. however, again, the D is near the recent fear-support at 20ma and the 233 near the 50ma fear support. So watch carefully. MACD suggest this could go through and show us further reduction in fear. Keep in mind the next possible move on the 55 and 34 for fear is to increase.
Summary - overall, the suggestion is that the tech sector could improve a bit further. there could be some short term good news for tech in the next few days. however, with the economy the way it is, don't assume this is the final turn and that things are going to get rosier for ever.
$BIX - this just paused recently on the D 20ma. Some of the recent uptick has been taken out in what seems like profit taking. however both the 55 nad 34 suggest the next move is up. there's good potential support just below.
$OIX - this right near some recent resistance, and though the MACD on teh D and 233 are open upwards, this has showed a tendency to swing down without too much advance notice on the MACD recently. right now gas prices (2.65) are at a level last seen in Apr 2007. And back then the world economy outlook wasn't so bad. Don't assume things are automatically recoverd. though we could see some nice uptick here given the hammering lately, and the fact that the weather is starting to get colder.
$OSX -
Monday, August 18, 2008
Forecast 08/18/2008 Monday
INDU - There may be a short term move to the upside. However expect it to go south after that. Key resistance right now is teh 200ma on the W. Also, possibly setting up what could become a bearish divergence on the D.
COMP - Other than the W which is cranked open upwards, the others are sort of turning over. It's just below the 50ma on the W. And just above the 200ma on the D. We will likely see a short retrace before it continues to go up.
ES U8 - it's at the top of the bollinger bands, but the MACD is cranked open upwards. Short term move may be upwards. However D looks like it wants to turn over south.
NQ U8 - similar story - top of the bollinger bands, with MACD open upwards. Here to the D looks like turning over.
OIX - so far this has looked determined not go below 777. However the W is still cranked south. Watch for indicators on D, 233 and 55. Could be time for a reversal upwards.
COMP - Other than the W which is cranked open upwards, the others are sort of turning over. It's just below the 50ma on the W. And just above the 200ma on the D. We will likely see a short retrace before it continues to go up.
ES U8 - it's at the top of the bollinger bands, but the MACD is cranked open upwards. Short term move may be upwards. However D looks like it wants to turn over south.
NQ U8 - similar story - top of the bollinger bands, with MACD open upwards. Here to the D looks like turning over.
OIX - so far this has looked determined not go below 777. However the W is still cranked south. Watch for indicators on D, 233 and 55. Could be time for a reversal upwards.
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