Sunday, October 08, 2006

Stockcharts.com: Weekly review

Large caps took a star turn for the week. After some bearish opinions last week (mine included) - what did the other Stockcharters have to say about it.

Joe Reed has yet to call a top in the Dow and appears to be waiting for an RSI (hidden setting) to reach 70. He was, however, more bearish on the AMEX:



But, liked the S&P:



He also posted his sector watch (new):



Mitchell Meana was a little more bearish all round. His Diamonds (DIA) chart illustrated the bullish wedge breakout, but the impllications from it was for an eventual repeat of a similar pattern breakout in May.



His outlook for the NASDAQ was similarly troublesome:



Robert New again had his weekly summary

Closing Update...The Nasdaq marches closer towards its 2325-50 price resistance with the SP 500 nearing some resistance in the 1360 area. Our scans continue to show many nice bases forming the right side of their patterns and many hopefully will get a period of consolidation near our key resistance levels which will serve to setup many more actionable plays in the days ahead. Today we noted a new 6 year high in the Wilshire 5000 one of the broadest indices in the US markets which is a true sign of the health of this overall move. As we suspected Commodities of all stripes jumped out of Bullish Divergence setups today as was noted in last nights wrapup. We continue to notice many nice bases in key sectors such as Healthcare, Retail, selected Tech, Chemicals and so forth.

It looks like he is about to start a website - this could be the end of his weekly review - time will tell.

Due to our tremendous response to our upcoming website we are going to be staggering our email over the next week to 10 days as it would be simply impossible to have everyone come in at once. We will continue to update our commentary here until everyone who has written in has been emailed. Thanks for your understanding and patience!!!

I will just show the comments on his Dow chart:



Richard Lehman has a good intraday chart for the Dow:



Ted Burge kept his comments short and sweet:

Can't argue with more stocks on buy signals and if you had been watching you had the 'heads up over a month ago.

Support and resistance won't change, but it is where price will change direction or momentum!

Ted is seeing support in the NASDAQ based on high support/resistance measures - next resistance at 2,330:



But he has on his lead page is an interesting chart for the energy sector bullish percents - potential 'buy' in the works?



If the energy sector is on your 'to do' list, check out Jack Chan's list which leads with a number of energy based ETFs and funds.

Michael Winfree has focused on a potentially bearish set up in the Qs (note 2-month channel resistance):



Rodney Gorchinsky is no longer predicting a move to the "Black Hole" which has disappeared from his charts.

Those who like stock pick lists should check out Richard Crockett's list.


 
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