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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (36585)	3/27/2002 4:14:58 AM
From: Johnny Canuck	Read Replies (2) \| Respond to of 68127

madtrader] Tue Mar 26, 10:10pm PST MRVL XICO VLO DPMI ENDO EDMC MCRL CRUS GTIV Going through my end of the day scans here. And here is a list of names that are showing a great deal of positive money flow. There has been strong accumulation during this period of consolidation in the market. These names should see a nice run short term. none. Register for our newsletter [madtrader] Tue Mar 26, 1:11pm PST Market I guess I like to look at things on the sunny side. QQQ tested the key Fibonacci level of 35.40 twice today. And each time it held. While one can't really draw conclusion with one day worth of action, the way the major indices closed, I am quite encouraged. DJI held above the previous pivot level (January high). For those who are familiar with candle charts, QQQ, DJI, OEX all shows up today as a bullish reverse hammer. As for BKX, I guess I just don't see the trouble Rumordude sees. It is forming a typical symmetrical triangle top (a bullish pattern). Needless to say, the big laggard in the past few weeks has been tech names, DJI type names are doing just fine. Russel 2000 is doing a symmetrical triangle top as well. As for QQQ, perhaps I am biased, but I believe I am looking at a pennant. Which is also bullish. Are we heading for a window dressing melt up? Feels like it. none. [RumorDude] Tue Mar 26, 12:13pm PST BBH Like so many other charts, this is also showing a MACD crossover. Howveer, if this one can ride the support at 120, it would show a nice cup-and-handle formation. none [RumorDude] Tue Mar 26, 12:11pm PST $BKX.X I smell some serious badness coming around here: head and shoulders (neckline ~880) and a rolled over MACD (also not yet confirmed by the DMI). With the 50 and 200 day a good 40-50 points away - also a 50% retracement of it's recent run - I would expect some consolidation here as well. Again, this would be a short term drop: weekly chart looks a bit better. none