Weekly Review of Stockcharts.com Publishers' Charts
Friday's selling will have given the bears something to cheer but the back hasn't been broken for this rally.
Anthony Caldaro of Objectiveelliotwave.com tracks pivot prices for the S&P with wave 3 up in play; rally intact with wave 3 targets of 1,219 and 1,326.
Yong Pan of Cobrasmarketview maintains neutral rankings on the short term and mixed sentiment on the intermediate time frame
Watch for black candlestick (strong gap open) for Monday; note all 'short sell' trigger
Inverse CPCE peaked
Same setup for the QQQQs
Richard Lehman of Trendchannelmagic.com is watching broader February channels within which are mini-channels which broke for market leading small caps and Tech.
Joe Reed offers his weekly summary:
Banking Index 'Sell'
Note relationship between VIX and S&P; not sure we will reach the VIX lows of the late cyclical bull market but that doesn't mean they are not on the table.
Is the Summation Index at a top? Stochastics and the index pinned at resistance.
Finally, Robert New of TheInformedTrader notes minimal resistance up to 1,250-1,300 band for S&P - supporting earlier EWT targets?
Follow Me on Twitter
Build a Trading Strategy in Zignals; Read how and earn real money (once out of Beta) in this PDF.
Dr. Declan Fallon, Senior Market Technician for Zignals.com, offers a range of stock trading strategies for global markets under the user id: ‘Fallond’, ‘ETFTrader’ and ‘Z_Strategy’ available through the latest rich internet application for finance, the Zignals Dashboard or the Zignals Trading Strategy MarketPlace.
Zignals offers a full suite of financial services including price and fundamental stock alerts, stock charts for Indian, Australian, Frankfurt, Euronext, UK, Ireland and Canadian stocks, tabbed stock list watchlists, multi-currency portfolio manager, active stock screener with fundamental trading strategy support and trading system builder. Forex, precious metal and energy commodities too. Build your own trading system and sell your trading strategy in our MarketPlace to earn real cash. Read what others are saying about Zignals on Investimonials.com.
JOIN US TODAY - IT'S FREE!
Anthony Caldaro of Objectiveelliotwave.com tracks pivot prices for the S&P with wave 3 up in play; rally intact with wave 3 targets of 1,219 and 1,326.
Yong Pan of Cobrasmarketview maintains neutral rankings on the short term and mixed sentiment on the intermediate time frame
Watch for black candlestick (strong gap open) for Monday; note all 'short sell' trigger
Inverse CPCE peaked
Same setup for the QQQQs
Richard Lehman of Trendchannelmagic.com is watching broader February channels within which are mini-channels which broke for market leading small caps and Tech.
3/21 -- Friday's minor dip simply took the Dow to its lower blue minichannel line, where it promptly bounced before the close. The SPX did roughly the same, but the Naz, RUT, and tech stocks penetrated their blue minis and are heading toward their green channel lines. To be confident that a new short term downtrend is finally emerging, we would need to see the green channel lines break, so that's what we're watching for this week.Michael G. Eckert of EWTrendsandcharts has a wave C 'top' for Russell 2000 on 60-min; more downside to follow
3/18 -- As the rally of the decade continues, one can only wonder what the correction to this bubble will look like when it comes. I tweaked a lot of charts and on the one-year charts I have adjusted the green channel lines to go through both the Feb low and last July's low, reflecting reality better than drawing them across the tops. Soon we will have to come up with a better word for this -- like 'Uber-over-bought'
3/17 -- Well the Dow Theory folks got their wish today as the Dow Jones Industrials confirmed the Transports new high. I don't know about you, but that makes me just want to run out and buy all the extended stocks I can load up on...right! I think I'll go out and have some green beer.
3/16 -- The Fed's non-event helped stocks lift, as did the dollar dropping. That also helped gold and oil gap upward before reaching larger support. Equity indexes hit or crawled along upper channel lines again and simply extended the overbought condition. Seems like old times - ey?
3/15 -- Another one-hour correction does an about face before day's end. But in addition to GLD, FXI and OIL are clearly in mini downtrends. Also, the small caps could not recover to Friday's highs like the large caps did, so there may be some weakness developing in the riskier sectors. All around, the action has clearly gotten choppy and flatter, albeit still heading higher. I'm still not going long until we pull back.
Joe Reed offers his weekly summary:
Banking Index 'Sell'
Note relationship between VIX and S&P; not sure we will reach the VIX lows of the late cyclical bull market but that doesn't mean they are not on the table.
Is the Summation Index at a top? Stochastics and the index pinned at resistance.
Finally, Robert New of TheInformedTrader notes minimal resistance up to 1,250-1,300 band for S&P - supporting earlier EWT targets?
Follow Me on Twitter
Build a Trading Strategy in Zignals; Read how and earn real money (once out of Beta) in this PDF.
Dr. Declan Fallon, Senior Market Technician for Zignals.com, offers a range of stock trading strategies for global markets under the user id: ‘Fallond’, ‘ETFTrader’ and ‘Z_Strategy’ available through the latest rich internet application for finance, the Zignals Dashboard or the Zignals Trading Strategy MarketPlace.
Zignals offers a full suite of financial services including price and fundamental stock alerts, stock charts for Indian, Australian, Frankfurt, Euronext, UK, Ireland and Canadian stocks, tabbed stock list watchlists, multi-currency portfolio manager, active stock screener with fundamental trading strategy support and trading system builder. Forex, precious metal and energy commodities too. Build your own trading system and sell your trading strategy in our MarketPlace to earn real cash. Read what others are saying about Zignals on Investimonials.com.
JOIN US TODAY - IT'S FREE!
