Dojis and Shooting Stars Everywhere...
...perhaps not the top, but certainly a top.
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CURRENT RESISTANCE LEVELS, intermediate-term DownTrend
SPX = ~ 950
OEX = ~ 910
DJIA = ~ 7740
NDX = ~ 1055
...the indices have all risen to the resistance at the top of their intermediate-term DownTrend Lines.
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MSFT - Spinning Top, small-body, centered. Hey Bill, check your pulse, man! (sideways trading range for several months).
INTC - similar, gap-up, possible Evening Star ?
CSCO - gap-up Doji, rose 3 days on declining volume.
Entire sector: Three Buddha Top.
IBM DELL CPQ GTW - Shooting Stars, gap-up, just broke their DownTrends and are likely to re-trace even if they do turn around.
MUEI - Gap-Up Doji, very likely Doji Evening Star
AMAT NVLS SVGI - Shooting Stars, gap-up, rose 3 days on declining volume, to resistance at top of DownTrend Line.
ETEC - little Gravestone Doji, similar action to above.
STK EMC - Shooting Stars, gap-up, possible double-top.
GE (the DOW, in essence) - Shooting Star possible double top.
MOT - Looks like a Doji, gap-up, possible Evening Star.
Candlesticks say we're going down again, folks :-(
-Steve |
