KFT Analysis for 11.10.2007

KRAFT FOODS INC. - KFT

Monthly chart shows ab=cd or 1:1 pattern in place with resistance at the .618 fib level.

Weekly chart shows price stuck in a large consolidation range, with price currently below all key moving averages.

Daily chart shows small consolidation range in place. Friday's price action saw sellers in a hurry to get out of the stock and gapped down the open. Early sellers saw buyers stepping back into the stock, where they closed the gap, only to find increased selling pressure once the gap was closed, and price closed near its lows. Look for continuation lower next week.

BBY

BEST BUY - BBY

Monthly chart shows an ab=cd or 1:1 pattern in place. Uptrend line has now been broken. Midpoint of large red candle at $50.75 area is now resistance.

Weekly chart shows another ab=cd pattern into $41.87 support, where buyers who bought down at that level found resistance and selling at the $50.50 area.

Daily chart shows a head and shoulders reversal pattern in place. We also had 5 waves up into the $50.50 area resistance. Friday's price action showed strong selling as sellers gapped down the stock at the open and closed it near the lows of the trading session. No buy signal in sight as of yet.

$NDX Analysis for 11.10.2007

NASDAQ 100 INDEX - $NDX

Monthly chart shows an ab=cd or 1:1 pattern into its current high.

Weekly chart shows an evening star type of candle reversal pattern. Weekly price action saw index close below the prior s/r and key LIS.

Daily chart shows increasing selling pressure and downside momentum. Sellers gapped down the open the hast three trading days in their haste to get out of their tech stocks. First downside target is the 200sma.

IBM Update for 11.09.2007

The abc bearish gartley butterfly pattern identified on the monthly chart is playing out nicely. Wave B has topped out at the .786 and we are now in Wave C impulse wave.