A week of consolidation for the indices. Only the semiconductors suffered with a loss of 200-day MA support. How had the Stockcharters seen it? Dr. Joe gets this week off with his usual bullet point summary of the week: He leads with the Nasdaq Summation Index - always a good one to look at. Rally looks intact for now: Ted Burge has highlighted key resistance in the Q s (and in the Nasdaq / Nasdaq 100): But at least the weaker Russell 2000 has found some support at 835: Jack Chan looks to have redrawn support to ignore what looked like a trend-line break MACD 'sell' trigger. The Gold Bugs index has a similar chart: Maurice Walker has his usual great summary up: 10/12 Commentary: Come visit thechartpatterntrader.blogspot.com for video analysis. Money that speculated on a turn around last August paid off. Buying that selloff was a good gamble at that point, but the rally is now mature causing the indices to be overextend in their gains becoming much more speculative at thes

Thursday and Friday were a bit of a roller coaster, but in the end there was no change to any of the 2 months+ rising channels for the key averages. Where changes emerged was in the higher volume distribution selling for the likes of the Dow , S&P , NASDAQ and NASDAQ 100 , and the break of 6-week support for the semiconductor index . Making matters worse for the semiconductor index was the failure of the index to regain the 200-day MA which was breached by Thursday's close. There is enough demand in the major averages to keep bulls happy, but the foundation for this rise is slowly eroding. Nasdaq market internals [ $NASI , $NAA50R and $BPCOMPQ ] slowed their advance with a 5-day EMA sell trigger for the Nasdaq Stocks Above the 50-day MA ( $NAA50R ). The remaining two internals - $NASI and $BPCOMPQ - kept chugging higher. The Nasdaq Summation Index ( $NASI ) is very close to entering bear market territory top levels ('0'), but has another 500 points to run before

Minor gains for Tech averages, minor losses for large caps and semiconductors, and no change in small caps. The Trade Ideas scan took 2-minutes to select the "Top-8" stocks and a 1 hour and 40 minutes to select stocks which featured 20 times or more on the scan. Both of these times are in line with bullish conditions which should help keep this rally ticking over a little longer. If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial. If you are interested in knowing what I do with the "Top-8" and "20-appearance" data I have prepared a report here . Trade Ideas

Notes from the Fed meeting gave bulls hope for further rate cuts. There were gains for all major indices bar the long suffering semi-conductors. The Trade Ideas scan maintained good bullish form with a "Top-8" pick list done in 2 minutes and a "20-appearance" list in 1 hour and 32 minutes . No major chinks in the armor of this rally (yet!). If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial. If you are interested in knowing what I do with the "Top-8" and "20-appearance" data I have prepared a report here . Trade Ideas

After a 1 week hiatus it is back to the Stockcharts.com review. There were solid gains in the market on Friday, so how did the Stockcharters see it? Leaping to the top of the monthly hit list is Eric Muathe 's list. He is optimistic for the Dow, with a target of 25,000 expected some time in 2,010. George Zimmerman has an interesting Andrew's pitchfork for the Dow - the index is getting close to resistance: His 20-year Dow's pitchfork prediction would make Eric Muathe happy (assuming the mid point is crossed): Joe Reed made an a good point about the historic highs for the S&P at 1,553 and 1,555: His S&P chart is worth viewing - especially his highlight on the huge leap in volume as the index made its first reversal at this resistance level: The Gold ETF has made an important breakout: And Oil looks ready to rocket: although I am surprised to see airline stocks riding as high as they have in the face of new oil highs: Jack Chan is showing a 'sell' trigger f

An expected jobs report figure sparked the market into life, helping some indices nick past troublesome resistance while firming up support in others. The Nasdaq had spent the last couple of days testing 2,725 support - Friday's push to new highs confirmed this level as support and there should be no further test of 2,725 support if this breakout is true (i.e. future risk can be defined by 2,725). The index has a new projected target above 3,000. Friday's gains also saw an upswing in money flow - confirming the importance of August lows as major support: The S&P had been slow to match the gains of the Dow, but the index ended the day at a new closing high for the year. Not only that, there is now a new projected upside target for the index: The Dow also has a new projected target: It is not all fun and games however. Small caps continue to languish, and although the Russell 2000 saw solid gains on Friday, it is still below 2007 resistance and heavily influenced by the (b

No change, certainly nothing to suggest any significant developments in the market. The Trade Ideas scan was not exactly hopping - but was still reasonable; the "Top-8" pick list clocked in at 12 minutes , while the "20-appearance" list checked in at just over 5 hours . If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial. If you are interested in knowing what I do with the "Top-8" and "20-appearance" data I have prepared a report here . Trade Ideas