Sunday, April 01, 2007 Weekly review

A relatively quiet week for the markets. The Stockcharters did not much to add from last week's comments.

Joe Reed has indicated a transitional bottom in the S&P:

With a number of indicators given here:

But sees more of a top in the Dow:

Ted Burge has a simple S&P monthly chart with a 20-period average overlaid; an area of previous support. This average sits around 1,312 currently:

Matthew Frailey is looking good for his A-B-C correction of the 4th wave for the S&P. Note the similar target to Ted's above:

Richard Lehman has well defined down trends for some of the key averages in the 5-min, 60-min and daily time frames. Note proximity to channel resistance. First up is the Dow:


And Russell 2000:

On a sidenote, Robert New has indicated an interesting reversal head-and-shoulder pattern for oil. He is looking for a move to $77 from the neckline break: