AeroSpace

This chart is showing an interesting character right here. Should it break up through resistance I like the prospects of an inverted head & Shoulders pattern.

S&P 500

I think short term the S&P is slightly overbought. We will not open new positions here. When we get a pullback we will be looking for long positions for another leg higher.

APH

I like the basing action in the weekly on APH. Longer term this stock is in an up trend. I see possible upside target around 47.00... Need it to break out, then I'll be looking at the pullback...

LOW (possible short)

Here are the top 10 as per S&P500 scan



The following signal longs for today.

S&P update

Well looking over the weekly chart of the S&P500 I see a few things of interest. First notice the longer term fibo. Currently we also have an inverted head and shoulders. This also goes with the 38.2 fib retrace. So I see a bullish tone down to the support (Red line @ 950). I think the bears task is to drop the p's under 950. Bull task to for support off 950 to hold and bounce off support. So a war is on and now we shall see how pans out. I will say I do think it is possible that we are in a longer term retrace in the P's. My reasoning for that mixes both technical and fundamental info.

SPY

This weekly chart suggests bullish tones with a possible S/H/S pattern.

What Home Builders?

Home builder stocks have been carving a nice 40 week base and is trying to break. Despite what I think of the homies The group chart is telling me to possibly get bullish with a qtr size in position.

LIFE (QTR BASE)

Here is a quarterly chart of LIFE. Should this one bust up through the base it will have zero overhead supply. I like it long out of the base. Now should it flounder here then we will have to wait and see.

Here are the top ten RSI percent increase for this week. GR is a live position with 1/2 running. I scaled out the other 1/2 @ 1R.
This pic shows date of entry if one just traded each time a signal hit. This means you blindly buy.

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Current Tec list

NVLS looking interesting over 08/03/09 high. Trade bias is wrong should support crack and price fall back into the base.

Well we are Bullish on from a technical view point.

Here is a list of those stocks gaining the most RSI percentage over the last 5 days

Retail Short

I see retail charts have triggered short today. You can pull up the retail index and see for yourself. This action puts me in the bear camp for retail stocks...

S&P update

This chart shows why it might not be wise to open new longs. Possible bump into resistance.

sector action

Here is why so many stocks from the Computer Hardware boys have been bullish. It has that double bottom look about it. I'm bull in dis tech.






Computer Software & Services are trying to get out of a double bottom pattern.

Screen update

Here is my top dogs as per my database

Market Overview:

Well one cannot argue the broad rally that has been taking grip in the markets. I’m not seeing much setting up and so for now I’m in position management mode. I will become a full bull over the Jan highs @ 945 in the S&P500. If the bulls can clear the 945 area I’ll begin to get a little more aggressive in long positions. One could not rule out a correction in the near future, but things will happen as they may. The S&P is up just over 27% since last low. So a consolidation/correction is in the cards, what do you think?
Going into this week of trading my screens do not have any candidates setting up and so we won’t open any new trades.

Market/Stock Review

Running over my screens I see the following groups have been adding in numbers.
Computer Hardware has AAPL and IBM. I like AAPL long
Tech stocks have been showing strength in Computer Software & Services. Here is where I like CSC long off the daily pullback trigger off HOD.. Stop 34.94 @ 1% position size.
Drugs have been showing power this year in fact. I like BIIB, and MYL here for now.
Retail has been strong with BIG FDO HD WMT BBBY and others. Not sure why so many hitting the screen, but maybe people are spending their tax returns.
Telecommunications came out of nowhere with QCOM daily chart showing a first pull back out of a base.

Thus far I like the broad based attempt at this rally.

Scan Sentiment

Here is a brief market sentiment based off a scan. First we notice we are getting a wide range selection of stocks. Notice retail as several discount stores are doing well despite the bear market. It makes sense for more people to shop at WMT or TJX in a economic slow down. What I find interesting is the home builder that made the list.

RRC

RRC has been basing for about 22 weeks and is currently testing upper range. I call this phase the moment of truth. The bears and bulls will be rocking for position. Break out traders are on alert waiting to get long and short traders are getting nervous. This environment adds fuel to the fire. Back to the moment of truth, well bears task is simple bring it down and have everyone believe that resistance line will not be broke. The bulls simply need to scare more shorts. Then the longs pile on...

Bear Rally

This is my RSI dog list and these guys have been getting a pretty good beating. Well Notice the percent these dogs have bounced during this rally attempt. These were all added 8 days ago.

Oil Overview

Here is the brief write up...

http://www.chartwatchers.com/profiles/blogs/2132439:BlogPost:17550

Here is current list. Blue indicated day one. Orange ranked highest in database.

Current data as percent change since hitting screen

Here is current list of stocks hitting screen. Market remains in buy as per signal, we just follow the signals.

Screen Results

Here are the percentage increase or decrees from day stock hit screen.

Mid-week update

First graph shows time length and next one is gain/loss YTD. Current number 1 spot belongs to MYL for now.

03/05/2009

I don't have even 10 now

Med stocks have been dropping off and we have a few new ones.

Update

DOW

I think we might need to get back down to this level...

Market pulse

http://www.chartwatchers.com/profiles/blogs/market-overview