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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 690.31

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Dec 26 4:00 PM EST

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To: Logain Ablar who wrote (42687)	10/5/2005 3:42:42 AM
From: Johnny Canuck	Read Replies (3) of 69287

Tim, It has been a while since I have had the time to review some composite indices and some component stocks. It looks like most of the indices have gone neutral with some component stocks going negative. That means no new highs on the indice without the stock undergoing severe trend changes. INTC, MSFT and ORCL all in negative trends. The only strength appears to be in telecom and only in selected sectors. After years of putting off upgrades it looks like the carriers are spending on the last mile and wireless. Strong QCOM, TLAB, CIEN, JDSU, CIEN, ADTN. SOX is a near a high for the year but AMAT's negative trend says it is going no where but down. BRCM only strong Semi stock on my list. EMC is undergoing a trend change to positive, but the rest of the stocks in the sector don't lool that strong. XOM and BGO my surrogate for oil and gold seem to indicate some trend change is about to happen in commodity prices. Not such how to confirm this one. OIH is a a high, but most of that is related to the gulf storms I think. Comments on selected stocks and indices: INTC in confirmed downtrend: 139.142.147.19 IBM is neutral to slightly bearish 139.142.147.19 MSFT confirmed downtrend: 139.142.147.19 SPY is neutral , but expect test of 120.5 area. A break of 120 is a confirmed down trend. 139.142.147.19 QQQQ is neutral: 139.142.147.19 DIA is neutral to slightly bearish. A break of 103 confirms a change to a bearish trend. 139.142.147.19 SMH is neutral, but AMAT is in a negative trend so SMH does not make a new high without it. Note that AMAT reports late in the Q. No need to be a hero here. 139.142.147.19 AMAT negative trend. 139.142.147.19 CYMI neutral to slightly negative: 139.142.147.19 CCMP negative trend: 139.142.147.19 ADTN strong up trend: 139.142.147.19 MRVL potential trend change from strong to neutral 139.142.147.19 BRCM on fire. Strong up trend: 139.142.147.19 CIEN change in trend from neutral to up trend: 139.142.147.19 JDSU strong up trend: 139.142.147.19 QCOM strong up trend: 139.142.147.19 TLAB strong up trend: 139.142.147.19 CSCO negative trend changing to neutral: 139.142.147.19 JNPR confirmed negative trend: 139.142.147.19 GLW neutral with possible trend change to negative: 139.142.147.19 EMC negative with a trend change to postive. Need one to 3 more days to confirm. 139.142.147.19 WFII potential trend change to positive. Need 3 more days to confirm. 139.142.147.19 ORCL falling off a cliff. 139.142.147.19 BGO potential trend change to negative: 139.142.147.19 XOM on verge of a trend change: 139.142.147.19

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