4/19/07 Review: Nasdaq, SOX, SPX, DOW, NSTK

The markets didn't do much today; perhaps nervous about GOOG's earnings? DOW made another new high. SP 500, or SPX, was pretty much flat. SOX added to yesterday's gain.

NasdaqNasdaq managed to close above the 2500 support level to close at 2505.35. It needs to catch...

***If you want to read the rest of the post, please click here to go to Wang's World!

4/18/07 Review: Nasdaq, DOW, SPX, SOX, OIH, GLD, GOOG, EBAY, JPM

Hello! It’s “Wang’s World”, HappyTrading’s new home!! What an auspicous day it is to have my first post here on a day that the DOW makes a new, all-time, high!! Woohoo! Wang’s World, Wang’s World, money time, happy time!! =) Ok, had to do a little impersonation; I promise I will “tryyyyy” to “behaaaave”!

Thanks to Phil Davis for inviting me to blog with him on PSW! And, hello to Sage, Zman; and many thanks to Jared!

Ok, where do we start? Oh, yes, the DOW!
New all-time high, just climbing the upper BB! (Why do I keep on hearing Mike Myer’s voice saying what I’m typing?!) It is above 12800 boys and girls! SPX, the SP 500 index, shares the same qualities as DOW’s charts, “just climbing the upper BB”.

Nasdaq had a little more difficult time today, even though the SOX took off! IBM and YHOO may have something to do with it...

***If you want to read the rest of the post, please click here to go to Wang's World!

4/17/07 Review: Nasdaq, NYX, SP 500, DOW, INTC, IBM

Wow, that was another "exciting" day, huh?! Ok, it's healthy to rest a bit after days of continuous excitement. The markets were pretty much flat today. A little consolidation was perhaps what the markets needed to continue this rally. SP 500 stayed above its Feb. high. The DOW made a small gain of 52.58, while Nasdaq gave up just 1.38.

Nasdaq daily chart:
Nasdaq closed right above its daily upper BB. MAs are still going up nicely, and so is the MACD.

Nasdaq intraday chart:
Perhaps the intraday chart shows a more meaningful picture. The "little rest" today allowed Nasdaq to let off some steam in the MFI, while not losing any altitude. Now, it has more room to continue to up-trend. Perhaps we'll see it continue to climb its upper BB!

One interesting stock today was NYX. It gained 2.95 to close at 96.15, above the range that it had been trapped in for a week. It had a nice buying volume and looks like it might try testing 100, again, soon!

Both INTC and IBM reported solid earnings AH. So, let's see if the markets will continue to push upwards.

Markets Going Higher!

The markets are very strong today. And, SP 500 index, SPX, is already above the Feb. high, and has caught the upper BB on the daily chart. It is likely to go higher from here!
It's great to see the consecutive "up" days to catch the upper BB. This is the type of action that I was anticipating last week! Nasdaq and the DOW have both caught their daily upper BB also, but, still waiting to break through their Feb. highs.

4/11/07 Review: Nasdaq, SP 500, DOW

So, once again, the Feds spooked investors! =) The timing was about right, though. It's about time the markets take a little rest. Let's take a look to see where we are at:

The Nasdaq closed above support (2456.5) at 2459.31.
What's positive for today was that the 30-day MA finally turned up! We'll have to see now if the 10-day MA can act as a support, while the intraday charts work off some steam!

Nasdaq intraday: On the intraday chart, we can see that Nasdaq really hit the tops of this near-term cycle at the end of last week. It was able to sustain the levels as things started to cool off earlier this week; probably people wanted to wait and see what comes out of the Fed's minutes.

The DOW faired a little less well.
It closed below the support around 12500, but, it did bounce off of the 10-day MA. The SP 500 shows similar charts to Nasdaq.

Now, the test is to see how fast can the bulls regroup, whether the 10-day MA will be strong enough as a support, and, if it is, whether the indices can continue the uptrend to re-test the Feb highs.

4/4/07 Review: Nasdaq, SP 500, DOW, SOX

The markets enjoyed another nice day today. The major indices pretty much close just above their immediate resistances (the highs made after Bernanke's speech last week). The DOW closed at 12530.05; SP 500 at 1439.37; and, Nasdaq at 2458.69, the strongest percentage-wise. The semiconductor sector also rallied 4.42 points to close at 473.02.

Let's look at some charts:
The daily charts are pretty much the same story, besides that we continued to rise and closed just above the immediate resistances. Nasdaq closed above the 2457 resistance, but, still need to see that 30-day MA turn up! MACD and RSI continue to rise.

The intraday charts, however, are getting maxed out. So, are we breaking out of here to re-test the February highs? Let's take a look at the 15-minute chart: We see that on the 15-minute chart, the MACD is flattening. If we find enough strength tomorrow to make this MACD rise up again, we may find that the buyers are still in control. I think it'll be interesting to see how the Asian markets hold up overnight tonight.

SPX, or the SP 500 index: SPX pretty much shares the same story as Nasdaq, but, a little better. Notice that its 20-day MA (blue line) has just risen above the 30-day MA (black line). Maybe it's something that Nasdaq can look forward to in the next couple of sessions?

How about the semiconductors?
SOX made a nice advance to close above 470! The MACD has curved up and the RSI is rising. Even the 20-day MA turned up too! We need to see it break the resistance at 473.8 and go above 475!

We should be cautious tomorrow, especially because Friday is a holiday; so, tomorrow is the last trading day of the week. In the next couple of trading sessions, we should be able to sort out the near-term direction of the markets. Commodities, however, still seem to be strong.