Monday, February 18, 2008

Feb17 weekly chart reading: the rest

$SPX: last week I estimated that the target is 1370, on Feb 13 and 14 the high points are 1369.23 and 1368.16. The next week is a breakout time, no estimation is given. Watch and see.

$CPC: now it's at 1.16, the sentiment is still a little bit bearish. It should go up sharply to form a bottom and then go down.

$VIX: the natural direction is to go down, which means no sharp up/downward movement is expected in the next week.

UYG: hasn't touched 31 yet but the trend is down.

1. Financial

C: last week's outlook is wrong, it's still in downtrend. Now the trend is not clear, basically down slowly.

JPM: down.

2. Technology

IBM: it didn't go up to 110 but reached 109. Now it's in a very near-term uptrend, but it will go down shortly.

AAPL: still in down trend. But STO is very low so it won't go any lower.

GOOG: in the last week it was going up continuously. This trend will continue, according to STO which is crossing above 20 soon.

MSFT: last week's outlook is right. This week it will go up slowly.

T: last week's estimation is completely correct. Besides the 1-2 days correction, the near-term trend is up. The intermediate term target is 42.

RIMM: last week's estimation is completely correct. Now it's in a uptrend. It has to break the resistance at ~97 and then go back to the long-term uptrend.

3. Resource

XOM: last week's estimation is basically correct. Now the trend is up. It will likely break the resistance at 87--88 and reach 90.

4. Transportation

DRYS: last week's estimation is completely correct. STO has topped out, last trading day it was down with heavy volume. In the next week it will have a correction and stop at 70.

FDX: it hasn't broken EMA(50), and now it stays at about 87.5. Wait for breaking of EMA(50).

UPS: it broke out, and the last week's estimation is basically correct. It may go up a bit and then have a correction.

5. Industry

BA: it had a upward breakout. It will go up further.

GM: it didn't go further down. The trend of next week is unclear.

DD: it had a upward breakout but the volume is light, afterward the downward movements have comparable volume. In the next week it will go down further to ~44 and then rebounce.

MMM: it didn't go down, especially didn't go down to 72. In the next week it will go up further. Intermediate term target is ~88.

6. Medical

JNJ: The downside movement was supported by the price level in the last Aug-Sept. the direction in the next week is unclear.

7. Food, consumer

MCD: last week's estimation is correct. It is undergoing a correction (to 52--53) and will go up afterward.

PG: last week's estimation is basically correct. The near term trend is up besides a very small correction (to 65.5).

KO: rebounce very soon. It will go up slowly.

WMT: last week's estimation is wrong. It's still in a slowly uptrend.

8. ETF

VWO: parallel upward channel is there, go break 97.5 and rally.

EWZ: bullish!

ILF: similiar with EWZ.

FXI: trend is up slowly. Wait for the breakout.

XLE: it has broken out. Candlestick pattern is bearish, but the chart is bullish. It will go up!

XLB: it has broken out, but cannot sustain.

GDX: last week's reading is wrong. It has formed a triangle pattern and will have a upward breakout.

DBA: same as last week. wait...

MOO: bullish channel is there, it has gone back to normal. It may have a gap up!

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