Monday, July 09, 2007

Charts Of Interest



Potential head and shoulders top in APC...I like how both shoulders are symmetrical......each shoulder is about 11 bars from the head. I may consider shorting this stock if I see it beginning to roll over along with the rest of the natural gas group (XNG)




If you've been reading my blog you would know that I am bullish on many of the Asian stocks and ETFs such as FXI. I was waiting for more of a dip but it looks like I let a big trade get away...keep waiting Kev, keep waiting...:-)




According to the above chart, the stock market should begin to trend lower going into at least early September. If the market does begin to sell off, I hope it can wait a week because I just bought Diamonds today!





I posted the above chart last week and the index continues to move higher...The upside objective for the dow jones world stock index is around 315.

4 comments:

JB said...

Kevin

Curious to know if you base your opinions off of price action alone or if you utilize momentum, breadth, sentiment, etc?

Thanks for your feedback about commercial COT numbers.

JB

Kevin said...

I base my opinions on intermarket relationships, COT report, sentiment, cycles, price patterns, relative strength and seasonality...When I find a market that has a combination of the above trading tools, I'll make a trade.

Andrei said...

The last chart you give a price target of the DJWI. Do you place time over price in your technical analysis. Such as the move will end when it hits the target or at the tip of the triangle, whichever comes first.

Kevin said...

I'm not saying the move will end there, I'm saying that would be a good place to exit long positions for a profit target..

I look at both price and time...depends on the setup.

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