Stockcharts.com 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:





Nasdaq:





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:



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