Thursday, July 7, 2005

Things look bleak for the market at the moment...

And the YI has failed to hold the zero line.

YI -1

Trying to hold some rising trend line support: ANH, BKX index, GLW, and MSO
Trying to hold the 28 DMA: ASA, BGO, and CDE
To no position for now: FBR and GYMB
Trying to break above some falling trend line resistance here: ABS, BMS, CIEN, CY, EBAY, EWU, INTC, MAT, MCRS, MMC, and MRVL
Trying to break above the 28 DMA: DBLE
Overbought now: BHI, BR, CCC, CHK, DO, FBR, GYMB, and IWM
Extremely overbought now: ECA, HAL, and IDA
Up against some risung trend line resistance here: BTK index, CARS, EOG, and JCP
Possible top here: BKS, JOSB, and LSS
Probable top here: ALEX, EOG, and FTO
Break out in either direction on the way: AEM
Anything posted here may be way off base of course.

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