Sunday, January 28, 2007

Stockcharts.com: Weekly review

A Helter Skelter week saw ups and downs but little net change to the markets. What did the Stockcharters have to say about it all?

No change from Joe Reed or Mitchell Meana. [Sidenote: Headline Charts did a great follow up to one of Mitchell's charts].

Matthew Frailey hasn't too much to add to his earlier charts on the market indices, but he has a nice semiconductor chart showing support at Fibonacci (not to mention a picture perfect break and retest of support).



Richard Lehman was one of the few leading Stockcharters to note changes in the indices:




His Nasdaq chart shows a channel within a channel:



And a new short term upward channel in small caps, within the context of a larger sideways trading range:



I have posted a large number of Richard's charts - but if you follow his link he has some complimentary charts for energy and gold which meld nicely with Jack Chan's listed below.

Micheal Winfree notes a potential consolidation top in the Qs:



Ted Burge shifted bearish on the Nasdaq 100:

Jan 26th, 2007! BULLISH PERCENT OF THE NDX IS NOW BEAR ALERT STATUS! Resistance is powerful and this is where price is most likely to change momentum or direction. Once resistance is proven, we look for support.

3 videos about the OEX AND THE CHANGES over the last 3 days. They have been very well received.

THE PnF REPORT IS A MUST TO SEE IF YOU WANT TO HAVE AN OBJECTIVE VIEW OF SUPPLY AND DEMAND.

These targets are not coincidence. They are based on price analysis. NO Fib's, no waves, no ripples, no guesswork.

Once you can get away from lagging indicators you can know in advance what everyone else finds out after the fact.

www.tic-tac-dough.com It is where it is at.

The videos on my site are a reference for everything we have 'said'. Having 'said' that, the only thing that has changed is price at support and resistance.

There are facts on my site you will get no where else, including the BP's of the GOLD index and SOX.

Watch what happens at support and resistance. The rest will follow because price is the indicator we watch!

If we say it, we will show you on a chart the reason.

None of this playing around with indicators to make them look good and make ludicrous claims. We analyze price so we know where the indicators will change in advance.

Indicators are based on price activity and always right after the fact because they follow price. Careful not to get it backwards. S/R is defined in advance and there is no indicator except accurately (objectively with no guesswork) defined S/R that comes any where close to 'indicating' where price will change direction or momentum.

The readings on a thermometer never drops before it gets colder. Learning is a journey and not a destination.

Jack Chan is showing some interesting sector strength in oil and gold: His charts are showing "Trend Line Break Buy Signals" for energy and gold.





Steven Swink doesn't quite see a bottom in the Gold and Silver Index, favoring accumulation around the 116s (it closed at 138.65):





Take home lesson this week is to watch those price channels.

Remember to Vote for your favorite list (preferably mine!).


 
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