madtrader]
Tue Mar 26, 10:10pm PST MRVL
XICO
VLO
DPMI
ENDO
EDMC
MCRL
CRUS
GTIV
Going through my end of the day scans here. And here is a list of names that are showing a great deal of positive money flow. There has been strong accumulation during this period of consolidation in the market. These names should see a nice run short term. none.
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[madtrader]
Tue Mar 26, 1:11pm PST Market
I guess I like to look at things on the sunny side. QQQ tested the key Fibonacci level of 35.40 twice today. And each time it held. While one can't really draw conclusion with one day worth of action, the way the major indices closed, I am quite encouraged. DJI held above the previous pivot level (January high). For those who are familiar with candle charts, QQQ, DJI, OEX all shows up today as a bullish reverse hammer. As for BKX, I guess I just don't see the trouble Rumordude sees. It is forming a typical symmetrical triangle top (a bullish pattern). Needless to say, the big laggard in the past few weeks has been tech names, DJI type names are doing just fine. Russel 2000 is doing a symmetrical triangle top as well. As for QQQ, perhaps I am biased, but I believe I am looking at a pennant. Which is also bullish. Are we heading for a window dressing melt up? Feels like it. none.
[RumorDude]
Tue Mar 26, 12:13pm PST BBH
Like so many other charts, this is also showing a MACD crossover. Howveer, if this one can ride the support at 120, it would show a nice cup-and-handle formation. none
[RumorDude]
Tue Mar 26, 12:11pm PST $BKX.X
I smell some serious badness coming around here: head and shoulders (neckline ~880) and a rolled over MACD (also not yet confirmed by the DMI). With the 50 and 200 day a good 40-50 points away - also a 50% retracement of it's recent run - I would expect some consolidation here as well. Again, this would be a short term drop: weekly chart looks a bit better. none |
