Friday, December 26, 2008


Another boring day with nothing particularly interesting to note.

SPX Charts by time frame:

1-day: depicts a rounded cup pattern.

3-day: possible ascending triangle.
5-day: a pennant.

10-day & 35-day: locked within a neutral range.

3-month: All of the above, but the market is also bound by the 20-day and 30-day MA. The entire day was within that range and formed a "spinning top", an irrelevant candle in most cases. Note: very low holiday volume.

SPX 1-day

SPX 3-day

SPX 5-day

SPX 10-day

SPX 35-day

SPX 6-month

I've also added several stocks on my watch list for potential breakouts.

Don't forget to try the Free Trend Analysis. It's FREE, so give it a shot!

1 comment:

PursuingWealth said...

Hey John,

If you like flags I believe BIIB and DNA are forming flags also.