ShareJunction - Member Posts

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Below is my daily chart analysis for sharing and exchange pointers.

My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.

If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start

making unconstructive comments.

This is only my view n I may be right or wrong, so dyodd.

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Broke above Monday's high of 16 and formed a higher high and higher low, confirmed a bullish reversal candle pattern.

Today's volume is higher than yesterday's volume and a reversal candle to yesterday.

Below is my daily chart analysis for sharing and exchange pointers.

My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.

If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start

making unconstructive comments.

This is only my view n I may be right or wrong, so dyodd.

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x 1

Wow!!

Ausgroup had broke the resistance at 49 and close at 52 on increased volume, confirmed the candlestick reversal pattern and bullish falling wedge continuation pattern.

Hope this is not a fake breakout. Set your stop-loss. dyodd.

Below is my daily chart analysis for sharing and exchange pointers.

My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.

If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start

making unconstructive comments.

This is only my view n I may be right or wrong, so dyodd.

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x 1

Wow!!

STI had broke the upper sloping resistance at 2328 and stayed above it at closing,

hopefully next few days, form a higher high and hgher low and may or may not (but preferably) re-test tat line as a support

to confirm the bullish contracting triangle pattern.

Below is my daily line chart analysis for sharing and exchange pointers.

My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.

If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start

making unconstructive comments.

This is only my view n I may be right or wrong, so dyodd.

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U.S. Stocks Rally on Intel Forecast, Manufacturing Improvement

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By Whitney Kisling

July 15 (Bloomberg) -- U.S. stocks rose, extending a global rally, after Intel Corp. forecast sales that beat analysts’ estimates and New York manufacturing shrank at the slowest pace in more than a year. Treasuries fell for a third day and the dollar and yen also dropped.

Intel rallied 7.3 percent, the most since March, after saying computer makers are boosting chip orders in anticipation of increased demand in the second half. Exxon Mobil Corp. and Alcoa Inc. climbed as crude and metal prices increased. General Electric Corp. and Caterpillar Inc. led industrial shares higher as the Federal Reserve’s New York economic index spurred optimism the worst of the manufacturing slump is over.

The Standard & Poor’s 500 Index added 2.3 percent to 926.04 at 12:27 p.m. in New York, extending its biggest three-day advance in six weeks. The Dow Jones Industrial Average climbed 184.78 points, or 2.2 percent, to 8,544.27. The MSCI World Index of 23 developed nations surged 2.5 percent.

“It looks like we want to trend higher in this earning season,” said Peter Kenny, managing director in institutional sales at Knight Equity Markets in Jersey City, New Jersey. “The fact that Intel and Goldman Sachs, two enormous players globally, have positive numbers and positive surprises does give the market some buoyancy.”

The S&P 500 has risen 5.3 percent so far this week as better-than-estimated retail sales boosted consumer shares and companies from Goldman Sachs Group Inc. to Johnson & Johnson reported earnings that beat analysts’ estimates.

Rebound From March Low

The benchmark index for U.S. equities has rallied 37 percent from its 12-year low on March 9 amid speculation the economic contraction is slowing. It rose above its average price over the past 50 sessions today for the first time in eight trading days.

Earnings have topped estimates by an average 20 percent for the 16 companies in the S&P 500 that have released second- quarter results since July 8, according to data compiled by Bloomberg. Analysts estimate profits slumped an average 35 percent in the period and will decrease 21 percent from July through September, according to data compiled by Bloomberg.

Intel climbed 7.3 percent to $18.05, the highest level since October. The chipmaker forecast third-quarter revenue will reach as much as $8.9 billion. Analysts projected $7.86 billion, based on the average of estimates compiled by Bloomberg. Microsoft Corp., the world’s largest software maker, jumped 2.9 percent to $23.78.

Tech Rally

Advanced Micro Devices Inc., the second-largest maker of personal-computer processors, advanced 9.5 percent to $3.89, climbing the most since May 4.

Cisco Systems Inc. rallied 4.1 percent to $19.50. The largest maker of networking equipment was given a “buy” recommendation in new coverage at Citigroup Inc., which said “we expect the shares to outperform in the early stages of an economic recovery.”

Exxon gained 1.8 percent to $67.39. Crude oil rose for the first time in four days after a report showed a bigger-than- forecast contraction in U.S. inventories contracted.

Alcoa, the largest U.S. aluminum producer, gained 4.3 percent to $10. Freeport-McMoRan Copper & Gold Inc., the world’s biggest publicly traded copper producer, increased 4.4 percent to $50.32.

A gauge of industrial shares added 2.7 percent after the Fed Bank of New York’s July general economic index climbed to minus 0.6, the highest level since April 2008, from minus 9.4 the prior month. Economists in a Bloomberg survey had estimated a reading of minus 5. Readings below zero for the Empire State index signal manufacturing activity is contracting.

Financials Advance

S&P 500 financial shares gained 3.2 percent collectively for the second-steepest advance among 10 industries following technology.

American Express Co. added 6.1 percent to $25.96. The shares have almost tripled since hitting a 14-year low on March 6, the session before the S&P 500 slid to a 12-year low.

At 2:00 p.m., the Fed will release minutes of its June meeting, which will include policy makers’ most recent forecasts for growth, inflation and unemployment, plus their discussion of monetary policy.

Investor sentiment for U.S. stocks fell to the lowest level since March and confidence in equities around the world declined as prospects for the global economy worsened in June, according to a survey of Bloomberg users.

Confidence Slips

The Bloomberg Professional Confidence Survey’s measure for the S&P 500 dropped 14 percent to 39.59 in July, its second consecutive drop. Readings below 50 show participants expect equity prices will decrease in the next six months.

The rebound in the S&P 500 since March 9 shows few hallmarks of a bull market and stocks will probably stagnate for years, ISI Group Inc.’s Jeffrey deGraaf said.

The S&P 500 is at a level it first surpassed in 1997 even after the steepest quarterly advance in a decade, and is down 43 percent from its October 2007 record, according to data compiled by Bloomberg. The main benchmark for American equities probably will continue to make “no net price progress” for at least two more years, deGraaf, who was the top-ranked technical analyst in Institutional Investor magazine’s poll for the past four years, said in an interview.

Janus Capital Group Inc. slid the most in the S&P 500, losing 6.1 percent to $10.49, after Gary Black resigned as chief executive officer. He spent more than three years trying to rebuild the mutual-fund company and cut the pay and influence of individual investment managers before his resignation.

To contact the reporter on this story: Whitney Kisling in New York at wkisling@bloomberg.net. Last Updated: July 15, 2009 12:30 EDT

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Below is my daily candlestick chart analysis for sharing and exchange pointers.

My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.

If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start

making unconstructive comments.

This is only my view n I may be right or wrong, so dyodd

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U.S. Stocks Rally on Intel Forecast, Manufacturing Improvement

Share | Email | Print | A A A

By Whitney Kisling

July 15 (Bloomberg) -- U.S. stocks rose, extending a global rally, after Intel Corp. forecast sales that beat analysts’ estimates and New York manufacturing shrank at the slowest pace in more than a year. Treasuries fell for a third day and the dollar and yen also dropped.

Intel rallied 7.3 percent, the most since March, after saying computer makers are boosting chip orders in anticipation of increased demand in the second half. Exxon Mobil Corp. and Alcoa Inc. climbed as crude and metal prices increased. General Electric Corp. and Caterpillar Inc. led industrial shares higher as the Federal Reserve’s New York economic index spurred optimism the worst of the manufacturing slump is over.

The Standard & Poor’s 500 Index added 2.3 percent to 926.04 at 12:27 p.m. in New York, extending its biggest three-day advance in six weeks. The Dow Jones Industrial Average climbed 184.78 points, or 2.2 percent, to 8,544.27. The MSCI World Index of 23 developed nations surged 2.5 percent.

“It looks like we want to trend higher in this earning season,” said Peter Kenny, managing director in institutional sales at Knight Equity Markets in Jersey City, New Jersey. “The fact that Intel and Goldman Sachs, two enormous players globally, have positive numbers and positive surprises does give the market some buoyancy.”

The S&P 500 has risen 5.3 percent so far this week as better-than-estimated retail sales boosted consumer shares and companies from Goldman Sachs Group Inc. to Johnson & Johnson reported earnings that beat analysts’ estimates.

Rebound From March Low

The benchmark index for U.S. equities has rallied 37 percent from its 12-year low on March 9 amid speculation the economic contraction is slowing. It rose above its average price over the past 50 sessions today for the first time in eight trading days.

Earnings have topped estimates by an average 20 percent for the 16 companies in the S&P 500 that have released second- quarter results since July 8, according to data compiled by Bloomberg. Analysts estimate profits slumped an average 35 percent in the period and will decrease 21 percent from July through September, according to data compiled by Bloomberg.

Intel climbed 7.3 percent to $18.05, the highest level since October. The chipmaker forecast third-quarter revenue will reach as much as $8.9 billion. Analysts projected $7.86 billion, based on the average of estimates compiled by Bloomberg. Microsoft Corp., the world’s largest software maker, jumped 2.9 percent to $23.78.

Tech Rally

Advanced Micro Devices Inc., the second-largest maker of personal-computer processors, advanced 9.5 percent to $3.89, climbing the most since May 4.

Cisco Systems Inc. rallied 4.1 percent to $19.50. The largest maker of networking equipment was given a “buy” recommendation in new coverage at Citigroup Inc., which said “we expect the shares to outperform in the early stages of an economic recovery.”

Exxon gained 1.8 percent to $67.39. Crude oil rose for the first time in four days after a report showed a bigger-than- forecast contraction in U.S. inventories contracted.

Alcoa, the largest U.S. aluminum producer, gained 4.3 percent to $10. Freeport-McMoRan Copper & Gold Inc., the world’s biggest publicly traded copper producer, increased 4.4 percent to $50.32.

A gauge of industrial shares added 2.7 percent after the Fed Bank of New York’s July general economic index climbed to minus 0.6, the highest level since April 2008, from minus 9.4 the prior month. Economists in a Bloomberg survey had estimated a reading of minus 5. Readings below zero for the Empire State index signal manufacturing activity is contracting.

Financials Advance

S&P 500 financial shares gained 3.2 percent collectively for the second-steepest advance among 10 industries following technology.

American Express Co. added 6.1 percent to $25.96. The shares have almost tripled since hitting a 14-year low on March 6, the session before the S&P 500 slid to a 12-year low.

At 2:00 p.m., the Fed will release minutes of its June meeting, which will include policy makers’ most recent forecasts for growth, inflation and unemployment, plus their discussion of monetary policy.

Investor sentiment for U.S. stocks fell to the lowest level since March and confidence in equities around the world declined as prospects for the global economy worsened in June, according to a survey of Bloomberg users.

Confidence Slips

The Bloomberg Professional Confidence Survey’s measure for the S&P 500 dropped 14 percent to 39.59 in July, its second consecutive drop. Readings below 50 show participants expect equity prices will decrease in the next six months.

The rebound in the S&P 500 since March 9 shows few hallmarks of a bull market and stocks will probably stagnate for years, ISI Group Inc.’s Jeffrey deGraaf said.

The S&P 500 is at a level it first surpassed in 1997 even after the steepest quarterly advance in a decade, and is down 43 percent from its October 2007 record, according to data compiled by Bloomberg. The main benchmark for American equities probably will continue to make “no net price progress” for at least two more years, deGraaf, who was the top-ranked technical analyst in Institutional Investor magazine’s poll for the past four years, said in an interview.

Janus Capital Group Inc. slid the most in the S&P 500, losing 6.1 percent to $10.49, after Gary Black resigned as chief executive officer. He spent more than three years trying to rebuild the mutual-fund company and cut the pay and influence of individual investment managers before his resignation.

To contact the reporter on this story: Whitney Kisling in New York at wkisling@bloomberg.net. Last Updated: July 15, 2009 12:30 EDT

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Despite the 2 black candles (a shooting star n today's spinning top) n a doji from Fri till yesterday n rise on decreasing volume, Midas today's real body is long n on increasing up volume, if it can't break above the recent high of 83.5 n test it as support, it might pullback, probably to the 15ema or 25ema.

Looking at the chart, note tat the 25ema had been providing very strong support so far but if broken, next support is the 65ema.

richtan ( Date: 14-Jul-2009 22:29) Posted:

Hi fartist,

Yes, it is forming higher high n higher low albeit 2 black candles ( a shooting star n today's spinning top) n a doji from Fri till today n rise on decreasing volume, so I expect a pullback, probably to the 15ema or 25ema.

Looking at the chart, note tat the 25ema had been providing very strong support so far but if broken, next support is the 65ema.

fartist ( Date: 14-Jul-2009 22:15) Posted:

Richtan from what i see, midas is having higher highs and higher lows and the 15day ema is quite a support level down there :)

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Today's breakout of the resistance at 49 is at very high volume, the last hurdle is to break above the 3 emas at 0.52 on closing to confirm the validity of the candlestick reversal pattern and the bullish falling wedge continuation pattern..

Set your stop-loss and dyodd.

richtan ( Date: 15-Jul-2009 15:17) Posted:

Wow!!

Ausgroup had hit 50.5, broke the resistance at 49. confirm the candlestick reversal pattern and bullish falling wedge.

Hope this is not a fake breakout. Set your stop-loss. dyodd.

richtan ( Date: 15-Jul-2009 14:41) Posted:

RSI also cutting above the 30% signal line n MACD turning up.

All these factors should rightfully bodes well for Ausgroup.

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STI had obviously broke above the upper sloping resistance line at 2322, now at high of 2370 as at time of this posting,

confirm the H&S void n confirm the bullish contracting triangle continuation pattern.

Most unlikely to be a fake breakout, but of course, void if it later falls back below tat resistance line.

For it to go higher, on breakout, it must subsequently either form a higher high n higher low or re-test tat line as a support.

richtan ( Date: 14-Jul-2009 10:13) Posted:

Below is my daily line chart analysis for sharing and exchange pointers.

My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.

If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start

making unconstructive comments.

This is only my view n I may be right or wrong, so dyodd

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Intraday, had broke Monday's high, hopefully close above it to confirm the candlestick reversal pattern and ultimately break above the upper sloping resistance line at 17.5 to confirm the bullish contracting triangle continuation pattern.

richtan ( Date: 15-Jul-2009 15:39) Posted:

If it breaks above Monday's high of 16, it confirms a bullish reversal candle pattern.

Today's volume is higher than yesterday's volume and a reversal candle to yesterday.

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Hi el7888,

This is my advice n opinion, of course, u ultimately decides your action.

My advice is learn to spot reversal sign in line chart n candlestick pattern.

Remeber the 3 golden mantras, one of which is:

"Cut losses short n let profits run with trailing stops" bcos we need to make as much as we can to cover all those losses to make net gain.

Do a search on my nick for my advice n sharings n the 3 golden mantras.

I wish u all the best, dyodd

el7888 ( Date: 15-Jul-2009 15:52) Posted:

I can tell BB is playing at this counter. A lot of testing of 1 lot to bring the stock up. I am coming out of this game very soon.

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If it breaks above Monday's high of 16, it confirms a bullish reversal candle pattern.

Today's volume is higher than yesterday's volume and a reversal candle to yesterday.

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CHHX need to break above the 3 ema at 16.5 and break above the upper sloping resistance

at 17.5 to confirm the bullish contracting triangle continuation pattern.

Hope it follows Ausgroup to the Tee.

richtan ( Date: 14-Jul-2009 22:41) Posted:

Below is my daily line chart analysis for sharing and exchange pointers.

My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.

If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start

making unconstructive comments.

This is only my view n I may be right or wrong, so dyodd.

x 0

The last barrier, hope it break above the 3 emas and stay above it

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x 0

Wow!!

Ausgroup had hit 50.5, broke the resistance at 49. confirm the candlestick reversal pattern and bullish falling wedge.

Hope this is not a fake breakout. Set your stop-loss. dyodd.

richtan ( Date: 15-Jul-2009 14:41) Posted:

RSI also cutting above the 30% signal line n MACD turning up.

All these factors should rightfully bodes well for Ausgroup.

richtan ( Date: 15-Jul-2009 14:39) Posted:

Ausgroup, so far so good, had touched 49 (ie the resistance line)

n higher than Monday's high of 0.485 (candlestick reversal pattern) on increased volume.

Hope it will stay above 0.49 n break thru the resistance lineon closing to validate the bullish falling wedge pattern n stay above the 3 emas.

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Ooops, the missing chart:

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Shrinking Trade Deficit: A Bullish Sign for Stocks?
If you answered "yes," keep reading.



By Vadim Pokhlebkin Tue, 14 Jul 2009 15:15:00 ET	Email \| Print \| RSS \| My Updates	Bookmark and share It!

The economic fundamentals in the United States are showing signs of life. One of the latest such indicators is the shrinking U.S. trade deficit. Last week's number came in below expectations, which many se as a good sign:

July 10 (Bloomberg) -- The U.S. trade deficit unexpectedly narrowed in May to the lowest level in almost a decade... “Trade looks like it’s going to be a big plus for second quarter GDP,” said ... a senior economist at UBS Securities... “It looks like the plunge in exports is over, which is of course consistent with the goal of the economy starting to stabilize after a dramatic collapse.”

That news article didn't claim that the smaller trade gap would boost the U.S. GDP number and therefore be bullish for the stock market. But it's not a stretch that many (if not most) analysts and investors see it that way. Really, how can better "fundamentals" not be good for stocks?

If you are familiar with the Elliott Wave Principle and the writings of EWI's founder and president Robert Prechter, you already know that looking at "fundamentals" to gauge the stock market's direction is like trying to drive a car while looking through the rear-view mirror. "Fundamentals" lag the stock market, not lead it.

Consider, for example, what Bob Prechter writes about trade gap as an economic indicator in chapter 19 of his "Wave Principle of Human Social Behavior" (excerpt; italics added):

In 1988, investors became “fixated” and “riveted,” according to The Wall Street Journal, upon the monthly reported U.S. balance of trade with foreign nations. As with the other figures... is derived from outside the market. It has an apparently logical explanation: trade deficits (a negative value of U.S. exports minus imports) are bad for our country’s “balance of payments,” so they are bad for the country, so they are bad for stocks. There is only one problem: The facts are once again in direct opposition to the assumption.

Figure 19-3 reveals that in fact the trade gap has followed the rises and falls of the U.S. stock market and economy very closely, but in precisely the opposite way that economists assume. The bigger has been the deficit, the stronger have been the stock market and the economy, and vice versa. Despite countless reports that “the trade deficit is slowing economic growth,” statistics reveal the opposite experience for decades.

Bob Prechter updated that trade deficit chart for the February 2005 issue of his monthly Elliott Wave Theorist:

As demonstrated in "The Wave Principle of Human Social Behavior," economists have been on the wrong side of the trade balance figures for 30 years. The trade deficit has expanded all the while that stocks have risen.

This is a fact. What economists have on their side is lots of logic. When do facts contradict logic? When one’s premises are wrong. The premise that an expanding trade deficit is bad for the economy has been wrong for at least a third of a century. When the trade deficit begins shrinking again, economists will assign it a bullish value when in fact this time it will go hand in hand with the onset of a depression.

A good chart can do wonders for your understanding of the financial markets. Elliott wave analysis is a visual method, and if you liked this chart, you should see the others we have.

Seriously, you should. Right now -- and risk-free for 30 days -- you can see all the charts Bob Prechter and his colleagues present in the latest issues of EWI's Financial Forecast Service, our most popular subscription package. Get started here, risk-free.

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RSI also cutting above the 30% signal line n MACD turning up.

All these factors should rightfully bodes well for Ausgroup.

richtan ( Date: 15-Jul-2009 14:39) Posted:

Ausgroup, so far so good, had touched 49 (ie the resistance line)

n higher than Monday's high of 0.485 (candlestick reversal pattern) on increased volume.

Hope it will stay above 0.49 n break thru the resistance lineon closing to validate the bullish falling wedge pattern n stay above the 3 emas.

richtan ( Date: 15-Jul-2009 11:16) Posted:

As per my chart below, Ausgroup needs to break above the upper down-sloping resistance line

at 0.49 on closing followed by next few days higher high and higher low and/or re-test of the

broken resistance line as support (optional) to confirm the bullish falling wedge continuation pattern.

x 0

Ausgroup, so far so good, had touched 49 (ie the resistance line)

n higher than Monday's high of 0.485 (candlestick reversal pattern) on increased volume.

Hope it will stay above 0.49 n break thru the resistance lineon closing to validate the bullish falling wedge pattern n stay above the 3 emas.

richtan ( Date: 15-Jul-2009 11:16) Posted:

As per my chart below, Ausgroup needs to break above the upper down-sloping resistance line

at 0.49 on closing followed by next few days higher high and higher low and/or re-test of the

broken resistance line as support (optional) to confirm the bullish falling wedge continuation pattern.

richtan ( Date: 14-Jul-2009 22:18) Posted:

Below is my daily line chart analysis for sharing and exchange pointers.

My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.

If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start

making unconstructive comments.

This is only my view n I may be right or wrong, so dyodd.