I'm having problems uploading graphics again to blogspot. I will try again later tonight or in the morning. With the strong reversal on Friday for all the indicies, I didn't see too many charts breaking out of bases. While I saw a lot of charts breaking down, I also saw a lot of stocks that held up pretty well. I took a lot of profits last week in reducing my exposure, but I am not jumping in to a bunch of shorts yet either. In reviewing the indicies this weekend, I'm not convinced that we are ready for a sharp reversal just yet in the Nasdaq and Russell. Since these are the market leaders, I will try an wait for confirmation from them. Here are the stocks I will be posting charts of. Another thing I've been seeing is a LOT of weakness in Biotechs and Pharmaceuticals. Also, it looks to me like Oil Service stocks will pull back over the next few days and consolidate recent gains.
IRIX:Very powerful move and finding support near 12.
UBB: I think some of these latin banks are hurting with the rising ten and thirty year.
BBD: Same as above
WSO:Broke support and may be headed to 60.
CLDN:Doji above previous resistance is not bad considering Fridays overall action.
GWR:Not a strong break of resistance, but held up when markets were falling back.
NWRE:They keep trading up to resistance but haven't broken out yet. Keep an eye for the eventual breakout or pullback.
TMI:Has been closing positive despite some profit taking.
VIVO:Very volatile stock has been consolidating above previous breakout level.
ALDA: One of the few stocks to break resistance friday.
PMTI: Looking pretty weak
BOOM: Gave back some gains Friday but as long as it hold the trendline near 37.50 the should be ok.
MNST: Another one of the few stocks to break resistance Friday
FFIV: Might be breaking major support here and if Nasdaq does confirm a pullback then FFIV will be a great short.
I will try my best to get the charts out, but feel free to pull up the charts on your own tonight to see if your analysis lines up with what I'm saying above.
Good Luck,
DT
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Great site!!! Thanks for all your work...