Investing Systems Research Lab Blog for Week of June 28th, 2010
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We expect a minor bounce next week, however it may not begin first thing Monday morning. Ideally we would see a flat open, then a pullback that reverses up with a red candle that turns green, confirming Friday as a Pivot Low. Conjecture aside we see a potential, though short-lived rally beginning any day.
The magnitude of this really will be extremely important.
All next week we will cover the long-term market charts live on our shows. a week from now is the beginning of July and we will dig into our longer-term signals.
This week we bring you another dozen charts to ponder. These are some set-ups we will be watching.
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Investing Systems Research Lab Blog for Week of June 21st, 2010
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As we mentioned last week on the Wednesday show, the S&P 500 has traded at the 1111 level 36 weeks in the last 12 years.
We found ourselves at this same level last week.
It’s also interesting to note that the current level is the mid-way between the April 26 high and the May 25 low. Almost exactly at the 50% retracement from high to low.
So we are pretty much sitting right at equilibrium going into earning season.
Based on the range we indicated last week, we have moved right into the middle of the yellow ellipse. Next week will be interesting as we are right at the perfect battle line for the Bulls and Bears. Quite frankly it could go either way next week, but the key is the upcoming earnings season which is still a couple weeks away.
The range has become much tighter and it would seem that last weeks “tradeable bounce” might have run out of steam, but then again the market has demonstrated considerable strength in the last week and it may carry over. In which case we have a “baker’s dozen” stocks for you to watch.
Here are the pictures.
Those are some stocks we will be watching and discussing next week.
Check the Trade Plans before the market opens each day to see which stocks make the cut.
To all you Dads out there, have a Happy Father’s Day and enjoy your weekend.
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