Berney; RE:" OEX.X "
>Clearly, we need to break 636 for the Bull to be alive and well.
...that's the resistance and top of the current trading range.
>OEX 615 is now my worry point...
...that's where the UpTrend Line is on my chart.
>OEX 600 continues to be my line in the sand...
...that's the neckline on my chart; downside if broken is 600 minus 640 = -40 OEX points, to ~560 area.
>I see critical support at 591...
...I see 580 as a support and 560 as the base.
OTOH, near target = ~660 and far target = ~690 (but it gets quite over-bought above ~670).
Been awhile since I looked at the oyster; I've been using the SPX and NDX recently (no particular reason). Must say I really enjoyed reading your comments on the sector indices, Berney !
>The PNX chart is a work of art. What a beautiful chart. You couldn't find a prettier trend line. Yet, we are a long way from the trend line support that I show at about 475. It is up almost 60% since the August low, and we got one of those Doji hammer thingies. The action of this sector is probably important to both of us...
It's the friggin' NDX.X weekly chart that blows my mind, dude (^_^) fifteen consecutive weeks where buying it at OPEN on Monday makes money by Friday CLOSE.
The doji thingy on the PNX.X daily chart yesterday is called a "gravestone doji". Same 'stick on the NDX, too. Below PNX.X ~520 it seeks the gap around ~497 next.
Wish you followed the EU charts (eg., da DAX or EUR.X, etc) but then again, their charts are usually full of gaps... probably all that chocolate in between the gold foil layers of their euros causes that phenomenon (^_^)
good night
-Steve |
