اخبار السوق ليوم الاربعاء 10-12-2003

[saad2004]

DJI Elliot Wave analysis from Tim Keller:10K target hit today, and as expected is providing resistance. This pattern should finally have been completed at today's high, and the inability to hold 10K and the technical divergences support that conclusion so far. We should test 9800 tomorrow if the trend has changed, and judging by the ndx's failure to rally today as well it is highly likely. So, once again there is a decent aggressive short play with a stop at today's high. Conservative play is to wait for the form of this decline and fade a corrective rally if it looks impulsive. Key level is the wave 4 low around 9850 as any decline that was part of a larger pattern down should easily breach that level. Failure to do so is a warning that this 5th wave is extending higher, to be confirmed by new high for the move. It is truly amazing how long this market has held up without correcting the 2600pt rally from 7400, and has definitely caused me and just about everyone else to call a top early and often. Note that a 'normal' correction for this size of a pattern is 38% if it's a 4th wave, and that's nearly 1000pts. By that measure a test of 9K is expected even if it is a new bull market if we've finally completed the rally.

 

[saad2004]

Gold remains just under its 410.60 high at 409.25

 

[saad2004]

Analysis from the Nasdaq Composite Dashboard:Strong down day with strong negative market internals and above average volume. Still diverging with the NASDAQ, the Dow touched 10000 points (psychological level) and after, the market went down. Does 10000 for the Dow and 2000 for the Nasdaq, be the tops of Oct 2002 rally? Again a down day on good news, that is bearish. Graphical analysis: It is the huger down day (on increasing volume) since Sep 24. The NASDAQ closes just below the dashed upward trend line from August (see chart 3). Close below the old support line at 1915. Technical analysis: Close below MA50. MA100 at 1850 is the next target. See chart 31: for the first time since March, the Nasdaq/SP500 ratio is ready to break down a strong support. When it occurs, the NASDAQ will definitively lead the charge down. EW analysis: Wave count is now clearer than yesterday. I have removed the modestly bullish count. The best count is that minute wave '1' finished yesterday and minute wave '2' (flat) finished today. We are in minute wave '3' (down) and tomorrow should be a very dark day. The target for wave '3' is 1818-1840. The bearish count described in my newsletter seems to unfold. I wait a first confirmation by a clear break down of 1878 resistance. An alternative is that minute wave '2' is not yet finished and tomorrow morning there is a short lived rally up to 1940 before the real start of minute wave '3'. Bottom line: The bearish case could be for real and the top at 2001 for the NASDAQ has a high probability. If 1880 is broken down on a close basis, fasten seat belt: an intermediate trend reversal would be confirmed. Resistances are at 1930, 1945, 1975, 1980, 1992, 2000 (psychological level) and 2010. Supports are at 1890, 1880, 1840 and 1790.

 

[saad2004]

EBAY estimates raised at Prudential Prudential raises their 2003-04 estimates above consensus and raises their target to $66 from $60

 

[saad2004]

Market analysis from Dave Landrey of trading markets.com:The good news is, the S&P held support. But, that's about it. The sector action was disappointing to say the least. Questionable sectors such as the semis were hit especially hard. Other areas that have been vulnerable lately such as software, Internet, computer hardware were also hit fairly hard. Stronger areas such as homebuilders weren't left unscathed either. Looks like I picked the wrong day to be bullish! Considering the above, I suppose the best action would be to sit on your hands until the market stabilizes. At the least, you probably want to stick with those areas that can trade contra to the indices such as commodity related stocks. For the aggressive, you might want to start watching for transitional (i.e. early trend) shorts in those weaker areas mentioned above.

 

[saad2004]

OXGN) Oxigene- Patient with Myopic Macular Degeneration Shows Dramatic Improvement Following Treatment with Company's Lead Vascular Targeting Agent

 

[saad2004]

(MTON) Metro One Renews Service Contract with Iowa Wireless- the leading provider of Enhanced Directory Assistance® and other enhanced telecom services, today announced that it has signed a new multi-year agreement to continue providing EDA and other services to subscribers of Iowa Wireless Services, Inc. Metro One has had a service contract with Iowa Wireless since 1999.

 

[saad2004]

Keeping any eye on MTON,PROX,OXGN,EGHT,NGEN

 

[Pivotrend]

الرسالة الأصلية كتبت بواسطة saad2004
Keeping any eye on MTON,PROX,OXGN,EGHT,NGEN

saad2004
almost every ticker is dipping
it'd be better to keep your eyes on $COMPQ