Was thinking about all the indexs tonight, checking P&F and daily candle charts..
seems we are in for some resistance areas here..we are not going straight up...
just my own reads here..
INDU/DOW...resistance at 10,250, and again at 10,550 this area was the triple bottom sell area...it will be hard R again..
at 10,300 we get a double top buy signal...however, this particular chart pattern usually reverses back down to set a higher low???..it;s the run up from very oversold levels, to a straight up rush to exhaustion..i perceive this as happening this next week or so...i doubt we get to 10,550 anytime soon...
NAZ/COMPX...3700 the 40 sma on the daily with an ADX already at 44++ R there, just above on P&F is the bearish resistance line(BRL) at 3800 hard R there..however i think since it broke the downtrend line here..we should fall back to that line at around 3300..
NDX same chart look...this will run up and then reverse back down to test the downtrend line...3600/3700 is R...
SOX has a good bounce here, down from the lower top at 1020 almost straight down to 620..so we assume a 50% bounce here or 820..the overhead downtrend line...the semis are the best sector coming off these lows..any pullbacks should be bought if we consolidate first...people should complete the last 1/3 third purchases during that time frame..
SPX rally to 1420, then heavy R at 1445...there's 2 time frames there on the daily with the 200 as one..and the BRL on P&F there too...i doubt we get there...
anyway just some musings as i check some stocks for both the long side and short side...must play it boths ways everyone...
later
juice... |
