Found this post on RB for TA enthusiasts. Didn't post link because you need to register to access it!
Some fortune telling for Tuesday + Agenda.
Trends:
Prices are trending downwards. TA still shows vulnerability.
Candlesticks:
A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend.
We have volume well above MA. %RSI -48.95 in neutral area, and money flow still negative at 37.41.
Tushar Chande Chart Analysis: has a trading range of upper bound 133, lower bound 82, Close 108. The overall bias is downwards.
Cynthia Kase screen is in "permission short mode" for 34 days.
Resistance/support:
Resistance's (for Tuesday):
fibo $112, $118, $127 and $151. Many levels at which people would like to cut losses.
Supports:
Fibo at $99, $97, $86, $80, $64, $46
We have a gap, $94.25-$97.625
We have left the lower Bollinger trending towards the upper band at about $132. Prices at about 20MA.
There is a downward trendline from Apr 4 close at $151 to $111 for Tuesday. 50MA is at about $114.
My best guesses:
There has been a little bit of surprise (announcements), the start of the Summer iNets rally is very probable.
We are back above the $97-99 fibo level, and if this holds Tuesday, we will be well positioned for the rally. Pre-earnings at the $127 fibo, hopefully above upper Bollingerband at $132.
I would have liked AOL to be positive today to confirm a start of the rally, but other blue iNets did well (AMZN, ATHM, YHOO) did well too.
All major indexes up today.
Having made a rounding top, Dow has rebounded on the 4Yr support/resistance line, Naz above the 20MA, still in a trading channel 2325-2635.
Watching closely the spread between 50MA (10 589) and 200MA (9299) at 12.18 % after close.
A spread of 10% is usually a signal of a major market top. Let's say that the spread is overextended and that we are in uncharted territory. If we factor-in a non-inflation scenario we could extend the danger zone at 14-15%.
Do not forget that we are talking of a 7% return on stocks, with a T30 bond yielding 5.97 % (most managers have their alert set at 6%). But the sentiment seems to have already factored two .25 hikes. Prices will shoot up if the Fed decides not to move on the 30th.
Till then, we could have a sideways scenario as in Jan-Feb. This would be very bullish.
Or simply following last year's scenario whit the suckers rally topping about mid-July.
This week will tell.
equis.com technical analysis for explanation of the terms used here.
webuser.rhein-main.net (courtesy of novice_trader)
I base my comments on my own (humble) knowledge and charts. Try to make your own TA and decisions yourselves, what precedes is only my reading of the charts.
What's on the Agenda
(for a more general calendar of events, check Mike's millionairesclubs.com
Merger Monday: ALD will buy Honeywell, Engage partners with Madge Networks in Europe, NaviSite gets participation from DELL and MSFT.
Jun 06-09, Retail Systems, Chicago, Navisite (will recently appointed CEO Joel Rosen make his "State of the Union" address ? )
Jun 07-08 Robertson Stephens International - Technology & Telecom Conference (London) Marcus Bicknell CMGI Europe
Jun 07-09 The Money Show - Las Vegas, Raging Bull
Jun 07-09 Deutsche Banc Alex Brown kicks off its 1999 Media & Telecommunications Conference at the Pierre Hotel in Manhattan, focusing on Web opportunities.
Jun 08-11 Paine Webber 3-day 10th Annual Growth & Technology Conference (CPTH)
Jun 10 after close, Q3 earnings
Jun 11 ???? hamsterdance.com ????
Jun 11 Russel2000 preliminary list (for a discussion: thestreet.com
Jun 11 Retail sales , PPI at 08:30 EST
Mid-June : start of the earnings season
Jun 16 CPI report 08:30 EST ( we will see if the previous one was an aberration)
Jun 18, triple whitching day
Jun 28-30, Neil Braun at Streaming Media East, presentation of iCast ? (Neil Braun + Matt Farber, the BIG expectation ?)
Jun 29-30 FOMC meeting
Jul 15 LCOS freed from USAI penalty.
Jul 25-29 Camp Interactive (Lake Tahoe, CA) Engage (sponsorship)
Jul 31, CMGI's fiscal year end.
MSGI holdings worth $76M
ragingbull.com thanks khavas
Aug 17-19 Jupiter Online Advertising Forum (New York, NY) Adsmart, Engage, i/Pro, Magnitude Networks, Planet Direct
Mid Aug, Q4 and pro-forma Fiscal Year earnings and balances. (second Thursday as usual ?)
Aug 31 MultiMediaCom (Boston, MA) David Antonian CMGI
Check of the CMGi's planned IPO's at:
ragingbull.com
cmgi.com General questions about CMGI
Other fortune tellers:
On CMGIOT, check DrBob on oscillators, RubyBlue, and Indexit "Today's Net Charts"
internetspeculator.com Brad's site, choose daily recap
stockconsultant.com
unbiased automatic TA (courtesy of Jeff8430).
thechartmistress.com (Christine, back in business)
wizardscall.com (with two sites, courtesy IFindKarma)
lookaheadcharts.com where will the stock be in 5 days
|
