2 replies to this topic

[Trend-Signals]

QQQQ 43.30 +/- and SPX 1410 +/- supports.


We have GDP # and Job # at 8:30 AM which market will pay attention to.


Good luck to ALL



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This is my incompleted market thought yesterday.

As noted on 7/21 after the rally that I am anticipating profit-taking and consolidation period, we now had the consolidation period closing near at pivotal supports. Since I made the initial comment, we now have two new factors which we didn't have at that time. 1) the Iran issue and 2) the Dr Bernanke's comment on inflation worry as we heard today. Oil traded to a breakout resistance after trading above down TL. The higher oil price is also contributing to the inflationary worry.


Qs traded to support 43.50 TL as shown on 60m. I noted that 43.30 +/- is a critical support which we would like to see testing the support tomorrow. SPX close at intraday support SPX 1416.


http://www.stockchar...09398&r=598.png


http://www.stockcharts.com/c-sc/sc?s=$SPX&p=60&yr=0&mn=2&dy=15&i=p73797548221&a=79285156&r=517.png

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I commented on the Shanghai $SSEC market breaking out from 50yr TL resistance, now, itis trading above the 3050 resistance.

$KOSPI, S. Korea market is about to break out from the resistance, 1470, closing at 1450.

The Asian Bull market has an indirect impact on our market that we have a global bullish market in Asia and Canana, for example.


http://www.stockcharts.com/c-sc/sc?s=$SSEC&p=D&yr=0&mn=6&dy=0&i=p02439948996&a=66381250&r=667.png

http://www.stockcharts.com/c-sc/sc?s=$KOSPI&p=W&yr=3&mn=6&dy=0&i=p75413615740&a=94929938&r=190.png




AAPL is bouncing off from a support in premarket. 94.50 R


BIDU is consolidating along the DTL as we can see on the daily chart with trendline. 97 support is pivotal.



AMZN was trading in a tight range for a few days, so expecting a good move. It is forming "coil" on intraday, looking for upside breakout.

GOOG is trading under 50ma resistance


YHOO is showing good momentum as noted before that market is expecting a good result, including insider buying shares, from panama during 2007. Retesting the high at 33 and we have unfilled gap, 36-39 for longer term view.

http://www.stockchar...70319&r=350.png
http://www.stockchar...68080&r=379.png
http://www.stockchar...32402&r=123.png
http://www.stockchar...40485&r=426.png

[hiker]

92.82 is major horizontal AAPL support/R that held yesterday others - 96.39 86.87 82.11 77.35

[Trend-Signals]

Yes, it is "Breakout Support" at 92.82; thus, it is a major support. My market reversal call on recent 3/5 & 3/14 reversal was based on "Breakout Retest - Support" as the main Technical Call among other factors which I commented before. Good luck with Trades.