Sunday, September 17, 2006

Stockcharts.com: Weekly review

With large caps challenging all time highs, and tech averages trading around the 200-day MAs, what did the Public listers on Stockcharts.com have to say about the market.

We open the review with this bearish mammoth from J.P. Russo. Certainly little room for the optimists here (although he is suggesting seom 1,800 points worth of rally is left in the NYSE Composite index).



Joe Reed shows a comparison chart for all the indices. The AMEX performance is of particular intrest - it must be all those ETFs!



His interest in the AMEX continues here; the index sits at an important junction:



Once again, Joe highlights another nice chart - but did he promote this to his front page when the bottom was made in July (I don't know the answer!)?



Mitchell Meana has stuck to his guns this week and remains bearish. He leads with this:



Robert New closed the week with a nice summary:

Strong week in the market led by the Transports, Financials/Brokers, and the Techs. We continue to see many stocks form the right side of large bases/cups. For example, see our GS/LEH/LM Setups. Per the indices we tagged some important resistance on our Friday gap up in the Dow 11,600-700, SP 1326, and 2230-40 Nasdaq areas respectively and started to see some hesitation late session. However, we did get a closing breakout in the NDX which now has little in the way of price resistance until the 1700-25 area. Should the Nasdaq clear 2240 there is little in the way of price resistance until the 2300-2350 area. We continue to see many bases show up in scans including many of the Banks. Commodities continued to move to the downside during the week another positive for the broad market. Bounces there should be counter trend in nature. Our 60 Minute charts are resetting with some more or less lateral movement. The Commercials remain bullish. During the week ahead continue to respect our key price pivots mentioned above especially our 1326 SP 500 price point.

He leads with large cap index charts, his Dow Jones index is presented below, other charts of his (the same goes for others presented here) can be found by following the link highlighting his name:



Rodney Gorchinsky has two interesting Dow Jones Index charts: one indicating a top is nearly at hand; the second indicating where it may fall:




Ted Burge has two nice charts highlighting support in Gold Trust Shares (GLD) and Gold and Silver Index ($XAU). Time to buy?




He even showed you were to find love for the Oil Services Holders (OIH):



Although Jack Chan may not have agreed with that prognosis:



Tucked away on his list are two interesting charts, with his comments underneath - note the dates of his comments:




Honorable mention to Howard Blackstein, who has two Nasdaq charts of interest:




[On a sidenote - Howards's list is the lowest ranked of the contributors featured this week; his public list is placed 23rd out of 170, (mine langusishes in 36th place!), but I remain baffled by the Stockcharts.com vote ranking system: I don't understand why Ryan Henry, with a list last updated on August 25th - 2,745 hits - and a mysterious number of votes, ranks second most popular list, ahead of Joe Reed, who updated on Saturday - has 48,300 hits - and has a mysterious number of votes, but is ranked 8th??? End of sidenote - all explanations welcome!]

But sometimes, you can't believe everything you read!



If there is a particular list you like - follow the link and Vote for It! Although the voting system is flawed, individual authors still appreciate the support - they know you care!


 
f9229fcfd1b1390be00cfccc86c90349c93a4179bf4227457c