Monthly Archives: August 2006

GOOG: Continues with its upward bias consolidation, a breakout above $390 will get it going. AAPL: Remains in an uptrend and impulsing higher, a breakout above $70 is all that is required now. AMD: Remains in an uptrend and impulsing higher … Continue reading →

REVIEW: a quiet week. In the end it was a quiet week as the market consolidated after the sharp rise the week before. The SPX/DOW closed less than 1% lower and the NDX/NAZ closed a little more than 1% lower. … Continue reading →

SHORT TERM: early selling, then a rally, now pulling back Overnight the Asian markets were mixed and Europe came in about even. Our stock indices pulled back at the open for a few minutes, rallied during the FED chairman Bernanke’s speech, … Continue reading →

Was asked today why I thought this was not a bear market rally. After reinterating that there has never been a bear market rally that lasted over 2 years, all bear market rallies have been in ABC structures, and a … Continue reading →

SHORT TERM: weak economic numbers push market lower, but it rebounds by the close. Stocks gapped up at the open today but quickly pulled back as traders reacted to the weaker than expected durable goods orders and new homes sales. Around … Continue reading →

SHORT TERM: market continues to pullback on weakened economic news Overnight the Asian markets were mixed, but Europe looks to close higher. This morning the durable goods orders and new home starts came in much lower than expected creating fears … Continue reading →

FORD The stocks that I follow on chart link are techs: GOOG, AAPL and AMD. They have been somewhat beaten down over the past few months and have become fairly nice buys, as mentioned over the past few weeks and this past … Continue reading →

SHORT TERM: existing housing sales much lower than expecting, but that was still a bad short term call. Overnight the Asian markets were mostly lower and Europe ended the day 0.75% lower as well. Our stock indices opened on a … Continue reading →

The NDX is displaying an oversold condition and a nice positive MACD divergence at yesterdays lows. When combined with the fact that it looks like it completed a ‘flat’ at the previous 4th wave, known as a triple bottom in … Continue reading →

SHORT TERM: morning rally fades, but stocks close positive. Stocks rallied this morning pushing the SPX to a new high for the advance, but topped around 11:30 turning negative at 2:00. A rally into the close turned stocks higher at … Continue reading →