Dirty tricks are back...... for the moment

OK, they did every single trick to avoid a huge break down. So far they have contained price at many major indexes. However there are a few of them which still show clear bearish signs.


DJR - weekly


See the same trend line and levels from upper channel at a closeup look



RUT


close up view

Weekend update

Well , 2 things happened , but as usual with Mrs market it happened in an unexpected way, the ES1067,5 level we were expecting after the bounce occured today before any meaningful bounce (although we did have a 23 ES points bounce today , but it was smaller than expected).

Now, the path looks more complicated because market needs to retest higher levels before more downside , so it may need to backtest ES1112-4 level from ES1069 which is a long ways. Anyway, it seems the most probable scenario

We will post updates of FTSE setup tomorrow to follow it up since we still believe is a valid indication of what other international indices will do in the short term.


Some charts as promised:

Overall view (ES)




Close up, daily view (ES)



DJ Trans (daily)





Nasdaq (daily)


SOX daily


Russell 2000 daily



OK, now one important guy that DID NOT break its channel, and might well be a clue

DJ Industrials daily

I am affraid it was not enough...

Daily pic suming up the result of today's push up....

Good boys

Well I cant complain, these puppies are behaving so well.... :)

SPX (previous analysis here)




RUT (previous analysis here)


INTC (previous analysis here)

Snapshots - all that glitters is not gold

Here are some thoughts about current market status.
While many big players will be on holiday , an interesting topping pattern may be on the final resolution phase. It started on Monday and while price has been ranging, some other indicators have been sliding which may well be the clue we are looking for to anticipate the upcoming resolution for this pattern.

Indices review

Let's make a weekly wrap up reviewing main indices to update previous post on this.

SOX review

RUSSELL 2000 review:

DJ transports review.

DJ industrials

XMI review:

Hogs talk!!

Here are a set of the few stocks that are responsible of a majority of all NYSE volume. So we can think of them as market movers on most of the cases.
Just have a look at them and hear what these charts are saying....












RUSSELL 2000 review















NASDAQ review