Posted by downtowntrader | 1/29/2006 09:17:00 PM | 0 comments »

Lots of charts tonight, and most look very good. Not sure if this is foretelling for the market. I think we are in a precarious position here as far as market health is concerned. I would be worried about a top here, until the markets prove otherwise and make new highs. I am being quick to take profits on some of my newer positions.

NWRE: May be breaking out here. Earnings are 2/1Nice bounce off the lower trendline here.
long consolidation for esrx.
Nice volume for BNT as it takes out resistance.
CTRN also has had a good volume increase.
FDRY also had volume as it breaks a trendline and earnings are out of the way.
NTRI has possible resistance above, but has been a high flyer before.
POWI may break out of a pennant type formation.
Another pennant type formation here for QCOM.
BOOM has been trading in a tight range and just broke to a new high friday. MACD crossing over.
CMED pulling back to a possible trendline.
SWSI is a thinly traded stock that has broken a trendline and is now testing support. Looks like it is headed back to test the high.
ZYGO broke out but reversed. Look for a test of the trendline and a possible reversal back up.

Lot's of charts to digest, but I'm sure some of these will be nice movers this week.
Good Luck,