Market news, views and information from a Wall Street veteran

Thursday, October 12, 2006

S&P500 Daily Analysis for Oct 12th



  • New 1st time frame UP trend.
  • Japanese Candlestick White Opening Marubozu pattern - extremely bullish.
  • Market closed with bulls keen, eager, in control and committed.
  • Triple MAs have changed back to BULLISH.
  • MACD histogram BUY SIGNAL.
  • ST volatility trending up after making a cyclical trough - ST trending action.
  • Volume neutral on extremely bullish day - no real cause for concern.
  • Watch the support area (marked in yellow on the chart) if the market comes off.
Disclaimer
Terms and Conditions of Use

The information contained in this publication has been prepared with all reasonable care from sources, which we believe are reliable. The author accepts no responsibility or liability for any errors or omissions or misstatements however caused. Under no circumstances and in no event shall the author of this site liable for direct, indirect, or incidental damages resulting from the use of the information. The author of this site may have positions in securities mentioned herein. Any opinions, forecasts or recommendations reflect our judgement and assumptions at the date of publication and may change without notice. This publication is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. We are not aware that any recipient intends to rely on this publication or of the manner in which the recipient intends to use it. In issuing this publication it is not possible to take into account the investment objectives, financial situation or particular needs of any recipient. Investors should obtain financial advice to determine whether recommendations in this publication are appropriate to their investment objectives, financial situation or particular needs before acting on such recommendations. The author may from time to time hold positions in any securities included on this site and may buy or sell such securities or engage in other transactions involving such securities.

Locations of visitors to this page