We have a consolidation at the lows, suggesting the potential for more downside for the market, and a 5% sell-off in Cisco after hours. The set-up looks pretty clear, even down to the declining volume in the consolidation the last few days, but the market needs only a day or two of downside to reach oversold levels. Still, we seem to have a clear bearish set-up here for the first time in a while, so we'll try to arrive at some targets for further downside. On the Nasdaq (first chart), we had a 111-point decline; if that is duplicated, the index could be headed for 1950-1975. Support is 2053, 2043, 2030, 2015 and 2000, and resistance is 2080-2085, 2100 and 2120. The S&P (second chart) could be headed for 1100-1110 if its 33-point decline is duplicated. Support is 1132, 1128 and 1121-1125, and resistance is 1142-1144 and 1150. The Dow (third chart) could be headed to 10,150-10,280 if its 284-point decline is duplicated. Support is 10,475, 10,417-10,434 and 10,350-10368, and resistance is 10,540 and 10,570-10,600. Mid-Day Forex Technical Report - Focus Back to Risk Aversion, Yen ::
indicate such decline has resumed for next downside target of long term rising ActionForex is set up with the aim to empower individual forex traders by
http://www.fxstreet.com/technical/analysis-reports/daily-forex-teeport/2007-08-09.v02.htmlHOME |
Mid-Day Forex Technical Report - Euro Rebounds, Canadian Dollar Surges ::
Analysis Reports :: Daily Forex Technical Report. Send. Print. Add To. Rss This is taken to be a step to set the stage for a July hike.
http://www.fxstreet.com/technical/analysis-reports/daily-forex-teeport/2007-05-29.v02.htmlHOME |
RealMoney.com: 10 Things I Love About This Market::
But dont rush the gun, because big turns after long downtrends take time to set up. Technical Analysis. Making Bonds a Short Play. 6/20/2008 4:39 PM EDT
http://www.thestreet.com/p/rmoney/technicalanalysis/10422605.htmlHOME |
Pre-Article:Cisco CEO Wants a Dozen Niches
Next-Article:Cisco Tops Estimates
|
Technical Analysis: A Set-up For More Downside