Fantasy Football

Posted by downtowntrader | 8/27/2006 10:37:00 AM | 0 comments »

I have two fantasy football drafts / auctions today so I am posting my update early. I won't go into too much details as I am short of time. While the past weeks consolidation can be viewed as bullish the hourly charts on the indices are showing the possibility that we pull back a little more before anything else happens.

The transports have been weakening and if this hurricane is gonna push oil higher over the next week, then transports may weaken further.

Here is ODFL possibly breaking the neckline of a head and shoulders top.
XPRSA is also showing a possible break of a trendline.
CCJ failed to break the line and may be headed to the 200sma.
ALJ is looking like it will breakout.
INFA came back to test the break out area and may be ready to follow through.
I've been looking for NTRI to breakdown and instead it is forming a potentially bullish reverse head and shoulders. If it completes the pattern it may only mean a test of the earnings gap down.
TXU looks ready to move as it is being squeezed by two trendlines.
TWGP looks ready to explode to either side. Volume has been contracting and if I showed the bollinger bands I'm sure they would be really tight.
NITE may bounce here off the 20 sma or travel down to the rising trendline.
PVA has held near the neckline of the reverse head and shoulders base. It tried to rally Friday and may of failed. Watch to see which way it follows through.
LMS may of broken down here.
ICLR may get a fast move higher as it extends the bull flag breakout.
CTSH is giving a lot of warnings that a reversal may be imminent. Two really bearish candles followed by a shooting star on the last three breakout attempts should put bulls on edge. If it can clear this mess then a really nice move might be in store.
Keep an eye on ALY over the next week to see if it attempts to breakout over resistance.
BOOM's action has been healthy the past three days and it may be headed back to the top of the rising channel.

Good Luck,