John, one of my favorite subjects INTC. First, understand that my expertise is FA and I'm a converted newbie to TA. That said, the weekly MACD has been negative since 10/10, but is so close to turning positive that I can taste it (the daily has been positive since 12/30). The Moving Average looks bullish short and long-term. Weekly CCI just crossed zero, which some look at as a point to close short positions and initiate long positions (the daily here though is showing weakness). Weekly momentum has been negative for 16 weeks, but is close to turning positive (Daily has been positive since 1/2). Weekly RSI is neutral, while daily appears slightly high. Weekly Stocastics turned positive 1/16 (Daily is high but was high for the whole July run). Volume is probably the key. The current volume looks medium to me. If there is a pick-up in volume, this puppy could take-off.
Since I gauge the market to be trending bullish, I look for more moves to the upside. BWDIK! There are a lot of factors, as always, that could send the market into a tail-spin in a second, and the good, the bad, and the ugly would all suffer. Thus, I'm viligent and optimistic.
Berney
P.S. Steve, what do the candles say to you? Looked like a weak close to me, but then it was Friday. |
