Monday, March 10, 2008

Mar8 weekly chart reading: the rest


$CPC: now it's 1.240. It should have space for further up.

$VIX: according to the weekly graph, breakout of the triangle pattern will happen in May. At that time, market will either start to rally or go down deeply.

UYG: last prediction was wrong. Now it's at a bottom will reverse soon.

1. Financial

C: last prediction was almost right. It went down in the last two weeks. Now RSI is at the oversold level, and STO is below 20, so a rebounce is due. But OBV is still going down. In the near term it will have a upward correction.

JPM: prediction was wrong. During last two weeks it went down deeply. But now it may have started short recovery. It will go up to 40+ quickly.

2. Technology:

IBM: last prediction was right. Now it has not a lot of space for further up, but the near term down trend hasn't really started.

AAPL: Still range-bounding. It didn't go lower and not go up either. The outlook is neutral to bearish.

GOOG: wrong prediction. It was going down in the last two weeks. It will go further down but there is not much space for big down.

MSFT: last prediction was right. The near term down trend will be reversed very soon.

T: almost wrong prediction. It only went down slighly. Now It should go up slowly, but may not jump above the resistance at 36.

RIMM: wrong prediction. It went down and closed the gap. Take a close look at the price level 100. If it stays above 100 in the next week, it may make a historical new high in the intermediate term; otherwise 100 may become a resistance and the up trend will be reversed.

3. Resource

XOM: prediction was correct that the price reached 90.17 but then it went down quickly. It will go down to 80- in the next week. There is no sign of reversal yet.

4. Transportation

DRYS: wrong prediction, the toppy STO finally dragged down the price. In the near term it will go down. In the weekly chart the wave C down is just started. If in the next week it stays below 70, the next target will be 50+.

FDX: during the last two weeks it went neither down nor up. Now it seems ready to go down. the target is 85.

UPS: it looks toppy and should go down slowly.

5. Industry

BA: wrong prediction. it went down. in a down channel. the target is 75-->70.

GM: prediction was right. It will still go down in the near term! 22 is a support. Once breaking 22, the next target is 18.

DD: prediction was correct, now it's closer to 44. The big trend is down. The next target is 42.5.

MMM: right prediction. Still in a down channel. The next target is 72.5.

6. Medical

JNJ: wrong prediction. Now it's range bounding between 61+ to 64-. The near term is down.

7. Food, consumer

MCD: wrong prediction, it went down. The near term trend is down, the target is 50+.

PG: now standing on the intermediate term uptrend line started in June 2006. In the intermediate or near term, it's still going up slowly. Note that RSI and OBV is nearish.

KO: range bounding. it seems the triangle pattern is about to break, and the the uptrend will be reversed.

WMT: bullish.

8. ETF

VWO: wrong, it went up and down. it will go down, and the target is 92.

EWZ: correct. it will go down significantly. The target is 75.

ILF: similar with EWZ. ready to go down.

FXI: sucker's rally soon.

XLE: it went up and then down. ready to go down further, the target is ~72.

XLB: similiar with XLE, target ~38.

GDX: prediction is correct. Now wait for correction.

DBA: Now it has started to go down. target 37+.

MOO: correction started. target 50.

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