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Posted by btr Wed, 20 Apr 2005 00:15:52 GMT
LU must break out from this dreadful downtrend line or this pop would be just another good short! The hammer stopped right below SMA20 too. We shall see soon how the bulls and bears resolve on this one.
Posted by btr Sat, 16 Apr 2005 15:58:26 GMT
All markets suffered heavy losses last week. INDU broke its support at 10350 and the new support is above 10000. QQQQ broke the support, we shall see if it continues to decline. SPX is approaching the new support level. All markets are very over sold, but not so good economic data didn't provide any incentive for buyers to step in. However, my personal view is that the market condition is not too bad, thus there may be a buying opportunity for long term accounts.
Posted by btr Tue, 12 Apr 2005 23:12:37 GMT
YHOO failed to break out.
MSFT moved up nicely.
Posted by btr Sun, 10 Apr 2005 19:45:05 GMT
Previous support at 10600 has become the resistence here. All longer term SMAs are pointing downwards, but SMA 5 is pointing sideway or flat. Obviously some good news would help to break the stalemate.
GOOG's volume has been low. Friday was a down, but volume was very low compared to the up day on Thursday. Not too many sellers and it's bullish sign.
Waiting for something to happen here.
Maybe we will see a cup forming here next week or so.
A good entry to long LOW if the support holds. The extremly high selling volume might indicate that most sellers wanted out were out now.
Posted by btr Fri, 08 Apr 2005 03:45:32 GMT
MSFT breaths some life in itself after this long decline.
Posted by btr Fri, 08 Apr 2005 03:43:57 GMT
GOOG is approaching the 200 level again.
Posted by btr Thu, 07 Apr 2005 00:50:29 GMT
YHOO is breaking out from its downtrend line. If you like to play break out, it's the time. Or you can wait for its pullback, but the pullback should not dip below the downtrend line.
Posted by btr Thu, 07 Apr 2005 00:44:20 GMT
QQQQ still has a lot to catch up. The overhead downtrend line is heavy.
Posted by btr Thu, 07 Apr 2005 00:43:57 GMT
INDU is stablizing above the support area, a good sign to the bulls.
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The more
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It's a good sign for QQQQ.