Showing posts with label Bear Flag. Show all posts
Showing posts with label Bear Flag. Show all posts

Saturday, February 21, 2009

$NDX Update for 02.21.2009

NASDAQ 100 INDEX - $NDX

Monthly chart remains bearish with market in consolidation with a bear flag pattern in place. Look for eventual break lower.

Weekly chart shows the continued weakness of the index. Loo for continuation lower.


Daily chart shows that traders were in a rush to exit their positions at the open of Tuesday's trading session, creating a gap down which remains to be filled. Look for continued weakness and the minimum downside target to be the .786 fib level of 1077 area.

Sunday, August 03, 2008

EBAY Update for 08.02.2008

eBAY INC. - EBAY

Monthly chart shows continued weakness with no buy signal/pattern evident on this timeframe.

Weekly chart shows price is currently below all key moving averages on this timeframe. While there is a test of the current support, the price action looks decidely less than enthusiastic. Technically, there is a higher low in place, but it is a weak buy signal/pattern.

Daily chart shows price to be below all key moving averages. The price action from the past two weeks seem to be tracing out a bear flag, which signals consolidation. The bulls have had almost two weeks to take the price higher, but have been unable to. This does not bode well for anyone who is long off the double bottom.

Sunday, June 08, 2008

MMC Analysis for 06.08.2008

MARSH AND MCLENNAN COMPANIES INC. - MMC

Monthly chart shows the stock has been in consolidation/trading range/bear flag since October 2004.

Weekly chart shows a smaller trading range and consolidation.

Daily chart shows a kicker signal pattern created with Friday's trading session. This kicker signal opened at/near the prior day's open, and sold off into the close, indicating a major change in investor sentiment. Look for continued weakness and a re-test of the current low, and then new lows.

Sunday, June 01, 2008

Tempur Pedic Update for 06.01.2008

TEMPUR PEDIC INTERNATIONAL INC. - TPX

Monthly chart remains quite weak. No buy signal in sight. Price is well below all key moving averages, especially the 8ema. Will the low hold, or will it is break? Pattern indicates likely break and lower low. Only time will tell.

Weekly chart shows consolidation and bear flag pattern. Look for lower low as likely based on this pattern.

Daily chart shows continued weakness, and consolidation. Definitely no buy signal as of yet. Look for further weakness and would not be surprised if the stock makes a lower lower.

Sunday, February 10, 2008

PG Analysis for 02.10.2008

PROCTER & GAMBLE - PG

Monthly chart shows increasing selling pressure during the month of January 2008. Up trendline in place remains intact for now. Current support is below at $59 to $60 area. The move up off the 2000 low looks corrective in nature. The large move up into the December 2007 high commenced on March 2000, which just happened to be the top of the tech bubble before it burst. Now, there is talk of recession in early 2008, and the stock looks to be toppy.

Weekly chart shows last week's trading action brought out the sellers. The stock is currently trading below the prior high and now key LIS to watch. No buy signal/pattern evident on this timeframe.

Daily chart shows the 200sma as current resistance. Price action is tracing out a possible consolidation range/bear flag pattern. IF this is indeed a bear flag, THEN look for eventual lower lows. No buy signal/pattern evident as of yet. Therefore downside is more likely at this time.

Saturday, February 09, 2008

BMY Update for 02.09.2008

BRISTOL MYERS SQUIBB - BMY

Monthly chart showx continued weakness and selling. Stock has been in a large consolidation range or bear flag. Look for eventual break of the current $19.50 area support. No buy signal/pattern evident on this timeframe.

Weekly chart shows early buyers stepping back into the stock after it found a bottom on January 31st, but last week's trading activity shows selling pressure remains. No buy signal/pattern evident on this timeframe.

Daily chart shows bulls unable to take stock up higher; sellers continued to overcome buyers. Look for test of the $21.73 low and eventual break for lower.

Sunday, January 20, 2008

S&P/TSX Capped Energy Trust Analysis for 01.20.2008

S&P/TSX CAPPED ENERGY TRUST -$RTEN-TC

Monthly chart shows index currently stuck in a consolidation range/bear flag pattern. Look for continued weakness.

Weekly chart better shows the bear flag pattern setup. Index currently trading near its lows and support. Expect support to be broken.

Daily chart shows abc 3 wave pattern up into 170.49 resistance before the sellers came out in force all last week. Look for continuation lower.

$HGX Analysis for 01.20.2008

HOUSING INDEX - $HGX

Monthly chart shows the index has retraced to the .886 fib level where it found short term support. Index remains well below all key moving averages with no buy signal/pattern in sight on this timeframe.

Weekly chart shows down trendline remains intact. There is regular divergence noted on the CCI momentum indicator for now. No buy signal/pattern as of yet on this timeframe.

Daily chart shows short term support off the .886 fib level (as seen on monthly chart). Overhead resistance is right at a key LIS and prior support - old support becomes new resistance. Bear flag pattern in place, creating a small consolidating range the past 2 weeks. IF this is a bear flag, THEN look for lower low to follow. No buy signal/pattern on this timeframe either.

Sunday, January 13, 2008

$NDX Analysis for 01.13.2008

NASDAQ INDEX - $NDX

Monthly chart shows a 3 wave abc and 1:1 pattern in place. No buy signal/pattern in place. Look for further weakness in the weeks ahead and a test of the uptrend line in place.

Weekly chart shows index to have fallen below up trendline in place. No buy signal/pattern in place on this timeframe. Look for continued weakness.

Daily chart shows index to be trading below all key moving averages and below the down trendline in place. No buy signal/pattern evident on this timeframe. There is a possible consolidation, bear flag pattern forming. IF this is a bear flag, THEN look for lower, and a test of the August 2007 low.

$INDU Analysis for 01.13.2008

DOW JONES INDUSTRIAL AVERAGE - $INDU

Monthly chart shows index in danger of giving up all gains made since January 2007. The past three months has been met with net selling. No buy signal/pattern evident on this timeframe.

Weekly chart shows neckline of h&s reversal pattern broken. No buy signal/pattern evident on this timeframe.

Daily chart shows renewed selling on Friday last week. Possible consolidation/bear flag pattern shaping up. IF this is a bear flag, THEN look for lower next week or so. No buy pattern/signal evident on this timeframe.

$SPX Analysis for 01.13.2008

SP 500 - $SPX

Monthly chart shows trendline broken. Last three months has had net selling. Index is now trading below the open of 2007. No buy signal evident on this timeframe.

Weekly chart shows Neckline of small h&s bearish pattern to be broken. No buy signal/pattern evident on this timeframe.

Daily chart shows potential consolidation or bear flag formation in the making. IF this is a bear flag, THEN look for breakdown and lower in the week(s) ahead.

Sunday, December 16, 2007

AEG Analysis for 12.16.2007

Aegon Insurance Group - AEG

Monthly chart shows an abc 3 wave pattern into the $22 area high. The last 2 months saw profit-taking near the highs. We now have a lower high in place, but support is right below us at the key LIS and prior resistance of $16.23.

Weekly chart shows a head and shoulder pattern in place. Last week's price action created a bearish engulfing candle pattern. IF the neckline breaks, THEN look for move much lower.

Daily chart shows a bear flag/pennant continuation pattern in place. Look for lower next week.

Saturday, December 15, 2007

ABK Analysis for 12.15.2007

Ambac Financial Group - ABK

Monthly chart shows sharp selloff from the highs in May 2007. Price is well below all key moving averages. No buy signal in sight.

Weekly chart shows price consolidation near its lows. Increased selling pressure evident last week. No buy signal in sight.

Daily chart shows consolidation range and bear flag formation. Look for break of $20 low and lower.