I want to echo the sentiments of Michael Happel. Your tables are incredibly enlightening. Who could possibly explain the inability of analysts to nail down actual upcoming earnings in their expectations. They are so wrong so much of the time.
As for the market charts I run numerous charts each night. Now I know that many might consider the Bank Index to be somewhat off topic but a quick glance at its monthly chart shows a top is most likely in place:
stockcharts.com[l,a]mhclynay[d19950101,20031231][pb50!b200!d20,2!f][iub14!lp14,3,3!lah12,26,9]
Now lets see how the Bank Index and the SOX tend to trade in a side by side comparison:
finance.yahoo.com^BKX&d=c&k=c1&c=^SOXX&a=v&p=s&t=1y&l=on&z=m&q=l
The Bank Index is very important to market strength in general and although I expect a bounce is possible the BKX is just as likely to trade back below 700 in my humble opinion as it is to break out to any new highs before that happens.
Now take a look at the NASDAQ Composite Weekly Chart:
stockcharts.com[h,a]waclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iub14!la12,26,9!lg!li10,10!lh5,5!lp14,3,3!ll14]
It's a long way down to that lower Bollinger Band even though it is rising. It may not be touched for a long time to come. The biggest thing that concerns me about the potential for the market to continue to fall is the recent high level of put buying combined with a stubborn falling VIX. In addition the TRINQ is generating a buy signal. No TRIN buy signal yet though.
RtS |
