For TB, TM, et al. Trolling the OEX
Comments are JMHO of very short term direction based on daily chart TA "snapshots" as of 5/29/00. FWIW
AA- falling off cliff(MACD, Candles,OBV all bad) Some old support at 54-55
AGC- bearish engulfing marubozu prior to doji, high stoch, probably drop to at least 61 to fill gap(but OBV shows accumulation)
BHI- not happy
ONE, BAC short term topping? Other financials AXP so so, USB looks ok, WFC still good
BAX- up trend weakening(MAD, stoch,candles all negative) at cusp of bottom trend line, drop to ~60?
BEL- bottoming? (stoch @20, bullish candles), watch MACD signal line for crossover
BCC- ouch! IP bleak also, WY unhappy, commodities in trouble?
CI- Nice up trend, now pulling back to bottom trend line? (High stoch) to regroup and move on. Weekly shows up trend channel began ~10 weeks ago
CEN- bearish gravestone doji, high stoch on weekly, nasty black candle on daily, short term topping?
CHA- Bizarre candles chart. 2 major news events?
CSCO- indecision
C- In a 57-63 trading channel but stoch, MACD, OBV all say it may go lower
KO- trending happy happy(PEP too) est extent ~62 (based on weekly 20 period MA) Lets sell our alluminum, paper, etc and get some liquid refreshment.<g> Maybe not
ETR- nice up trend
FLR- dropping from a mlid up trend with negative candles, MACD, OBV, and MA crossover. Support @27?
GE- in ~49-55 trading range
HNZ- happy candles, bullish MACD, trending up(but high stoch). Some ketchup with those fries? Coke or Pepsi? Whats up with the food and beverage stocks?
INTC- indecision doji on weekly, lower highs on top(daily) trend line but higher lows on bottom(daily) line. Like CSCO definitely trending lower on the weekly but now mulling it over.
JNJ -steady as she goes(bearing NNE), same for MRK
LU- very positive candle formation, bullish stoch, but MACD not yet there and OBV negative.
MKG- topped? based on candles, stoch, MACD, but still mildly bullish on OBV.
MAY- like LTD stalled, unlike HD, WMT, who are trying to find footing. Retail weakening..S, TOY just now turning south
MER-big ouch!, now mulling, MWD smaller ouch, now mulling
OXY- topped? via MACD, stoch, OBV
ORCL- candles, stoch, considering bounce here(to ~75?), other signals inconclusive
PRD- steadly SSE now run aground on sandbar
SLB- OBV in plunge, big black candle after what would have been a hammer(with confirmation). HAL looking weak now too. OIL service topped?
SO- steady accumulation(OBV), may retest April high
TAN- all systems NO!, except intrigingly an up open and further up close Tuesday would produce a bullish morning star on the daily candles(grasping at straws here).
UTX- All indications point south.
SUMMARY
OIL service topping
RETAIL weak
FINANCIALS mixed
DRUGS steady
COMMODITIES losers, especially paper
BEVERAGES strength
TECH mulling
Hope some of this is useful
JH
PS Lurkers beware.. 1) its a crapshoot 2)I'm an amateur 3)nothing here is a recommendation to buy or sell, merely notes to self. |
