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Strategies & Market Trends : Technical Analysis With Charts

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To: estatemakr who wrote (4380)	3/8/2007 12:50:32 PM
From: MACD X	Read Replies (1) of 6865

Welcome Estatemakr stockcharts.com Thanks for posting on this site as I try to reply to every new comer and appreciate your being here. I had a nice page wrote up for your first post but for some reason it didnt load. But any way. I can make up a chart for any stock and make it bullish or bearish as I like, there are always two sides. You know what the bear side is from watching the 50 and 200dma moving average as price has just tested the 50dma as resistance and should now go down to test the 200dma as support. That is the bearish senirio that I would put on a chart. And being that I feel that a bear move in occurring in the markets it is probably the way to think and if so shorting it is the correct line of thinking. But we know what the bears are thinking, lets look at what a bull might be thinking. The chart above shows the 100dma applyed to the chart. Wow was support it has provided. Then notice the on balance volume, it is still within the channel. This puts a bullish twist to it. Now that we know both sides you must decide which one you like. Being that I think the market is in a down trend probably leaning to the bearish thought. You may be correct.

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