Some interesting stocks. One at a time.
BA did not muster much and looks weak maybe just a dead cat bounce from minor support.
CAT When you consider the 4 heavy sell days proceeding todays bounce, not looking good, in fact would not be surprised to see it below $65 should this bounce fail, and it could. Maybe it will bounce more but it does not look bullish at all.
DD ouch, you are right there, clearly the wedge looked to break $39. The spinning top followed by the large white candle is bullish, and it broke up thru the down trend line. DD looks to be headed higher and that depressed stock will help the.
IBM you have a point about the H@S possiable, but its only a possiable, it needs to get thru the neckline and that is often not done as it tends to be strong S/R
KLAC bear flag, do not see. I see a failed bull flag, the pole being the white candle move from $40 to $42.25 then formed a flag and looked to break up but died. It has however held the at the top end of its base and has potional to break up however $44 should offer good resistance.
So I see possiable potional in those stocks, and clearly DD looks bullish, and the DOW will look good IF it can get and stay on top 11,250 however if it does not get thru that then we likely just had a ii correction and would need 11,137 taken out to confirm down again.
Right now it looks like we are doing a v of C of corrective wave 2 up and if thats the case target would be around DOW 11,400 to 11,460 BUT getting on top 11,250 is the key for that. |
