As noted earlier, DOW is targeting to make new high before IBM & INTC earning reports.
With positive earning reports, we will certainly see SPX 1500 target before making ST top with minor SPX 1475 +/- resistance.
However, as noted, SPX target for this year is SPX 1550 +/- testing the all time high which I commented during the Jun-Jul 2006 bottom. So far, market is progressively confirming the target for the year.
Markets traded to break out level yesterday. Breakout: SPX breakout to 1468.62, Mid cap breakout to 877.16, OEX breakout to 672.46, $RUT 831.49, and NYA to new high to 9624.99[/b] which is confirming $NYA is leading the other major markets.
Good trades
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Date:4/17/2007 10:58:12 AM
http://www.investors...age_id=18849062
DOW pushing for new high above 12795.93 on 2/20 -- ahead of IBM & INTC earning report.
SPX to near 1475 +/- TL R.
IBM also reports in AH, I think. It is trading up before earning.
With JNJ and COKE good report, DOW is pushing.
CSCO is trading erratic price pattern lately. I like its wireless modem products. It shows neg D on vst.
http://www.stockchar...09398&r=374.png
http://www.stockchar...77535&r=859.png
http://www.stockchar...40300&r=617.png
http://www.stockcharts.com/c-sc/sc?s=$SPX&p=60&yr=0&mn=2&dy=15&i=p73797548221&a=79285156&r=517.png
http://www.stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=9&dy=0&i=p22648394504&a=76929034&r=579.png
http://www.stockcharts.com/c-sc/sc?s=$SPX&p=W&yr=4&mn=8&dy=0&i=p49229126946&a=78987374&r=825.png
http://www.stockcharts.com/c-sc/sc?s=$INDU&p=D&yr=0&mn=10&dy=0&i=p31631774778&a=76966992&r=329.png
http://www.stockcharts.com/c-sc/sc?s=$INDU&p=W&yr=4&mn=3&dy=0&i=p72794457382&a=76929550&r=647.png
http://www.stockcharts.com/c-sc/sc?s=$COMPQ&p=D&yr=0&mn=8&dy=0&i=p21609042622&a=76909044&r=764.png
http://www.stockcharts.com/c-sc/sc?s=$COMPQ&p=W&yr=4&mn=3&dy=0&i=p53935525265&a=77295648&r=218.png
Edited by Trend-Signals, 17 April 2007 - 11:04 AM.