James,
Telecoms are in accumulation mode and likely going up from here.
207.61.23.98
WCOM,likely double bottom.If 37 9/16 will not hold,a strong support at 33-35.With predicted growth,next year P/E will be 15.
207.61.23.98
INDU,if 10,400 will not hold and will drop to 10,250...
we are forming a clear descending triangle,which likely will be resolved to the downside.Or,we are on the bottom of inv.H&S formation(I think, inv.H&S).
siliconinvestor.com
Here is candle analysis:
Message 13939099
As concern the interest rates,A.G will likely not raise them now.Here is an excellent post from Haim, explaining why.
Message 13941642
What is my concern:The market breadth and A-D line on NYA.
NYA has almost 40% stocks "interest sensitive".
stockcharts.com
As you see,this line suddenly dropped in the last 3 weeks.
If this line will not improve soon....we may have some problems with the further rallies.
For the next week,I expect Compx going up to at least 4000
and Indu holding 10,400-10,525 area.
el |
