Sunday, October 15, 2006 Weekly review

Another good week for the markets as the Dow closed shy of the much publicized 12K. The Stockcharters didn't have a whole lot new to add, but in general - were considerably less bearish than they were a couple of weeks ago.

Mitchell Meana kept to his long standing charts, although market resistance as indicated on his varaious charts have now been cleared. He has indicated a new resistance level (blue line) on the Nasdaq Summation Index:

His other point of note was his target price for the Qs: $44.03, now fast approaching (his chart was unchanged).

Michael Winfree listed the last two years of Qs highs on highs chart; note the rising price channel:

Robert New no longer has his weekend summary, but his lead chart summarizes the events of last week nicely:

His S&P chart was similarly bullish:

Although Micheal Winfree is looking for volatility to soon spoil the party:

Matthew Frailey has an interesting chart showing the continuation and support line of the cyclical bull market in the Dow Jones World Stock Index:

Robert New is looking for a handle in the Nasdaq at 2-year resistance:

and his confident over the long term:

He has also suggested a potential reversal in the works for Oil:

Ted Burge kept his opinion short:

Oct 14th! Energy sector is a BP buy signal and gold stocks BP moving higher.

Jack Chan is bullish on the Oil Services Holders with a Trendline Break Buy Signal:

and a similar 'buy' in the Energy Select Sector (XLE):

Although whatever relief a rally may bring to commodities could be temporary based on Matthew Frailey's chart:

Stock pick fans should check out Richard "Sonny" Crockett's public list - lots of good ideas.