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FROM THE ANALYSTS DESK AND CONGRATULATIONSTO BEN FOR SOME GREAT POSTS:
WEEKEND INDEX REPORT
$COMPX -THE SHORT TERM CHART & THE LONG TERM CHART ARE COMPRESSING
INTO EACH OTHER!!! THIS W FORMATION IS COILED AND SHOULD END WITHIN
THE NEXT 1-10 TO 1-20 TRADING DAYS!!! THE SHORT TERM CHART RUNS FROM
$1,820-$1,885 WITH ITS APEX IN 10 TRADING DAYS AT $1,850!!! THE LONG
TERM CHART RUNS FROM $1,750-$1,900 WITH ITS APEX IN 20 TRADING DAYS
AT $1,825!!! A MOVE INTO THE BASE WOULD BE POSITIVE & BELOW THE BASE
WOULD BE NEGATIVE!!! THE TOP OF THE WEDGE WOULD BE NEGATIVE & A MOVE
THRU THE TOP WOULD BE VERY POSITIVE!!! IF THE OVER HEAD IS TAKEN OUT
THIS SHOULD NOT MOVE BELOW $1,825 !!! YOU CAN EXPECT THIS TO SHOW ITS
HAND SHORTLY!!!
$OEX -THIS CROSS TREND SHOULD SHOW ITS HAND OVER THE NEXT 20 TRADING
DAYS!!! A MOVE OVER $590 WOULD BE POSITIVE WITH MOST WATCHING $600!!!
A MOVE UNDER $560 WOULD BE NEGATIVE WITH MOST WATCHING $545!!! THE 1
YR CHART SHOWS THE WEDGE CLEARLY WITH THE DOWN LINE RUNNING FROM $678-
$595!!! THE BASE LINE RUNS FROM $480-$545 ONCE THE DOWN LINE
&BASELINE IS DRAWN IN AND EXTENDED YOU SHOULD HAVE THE APEX LOCKED
IN!!!
$INDU -A HIGHER HIGH AND LOWER CLOSE THEN WED PUTS A NEGATIVE TONE ON
THIS INDEX!!! IF $10,350 IS BROKEN THIS MUST HOLD $10,250 FOR THE UP
LINE TO STAY IN FORCE!!! A MOVE THRU $10,525 SHOULD SET THIS UP FOR A
TEST OF THE OVER HEAD AT $10,700 WITH THE PIVOT POINT AT OVER
$10,800 !!!
$QQQ -UNDER $35.30 NEGATIVE WITH A MUST HOLD AT $33!!! POSITIVE OVER
$36.50 WITH BREAK POINTS AT OVER $37 $38 & $40!!! WE WOULD EXPECT
THIS TO SHOW ITS HAND WITHIN 1-12 TRADING DAYS!!!
Sincerely,
John
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