3/20/2007 Review: Nasdaq, SMH, GOOG, WFR, POT, MGM, WYNN, LVS, GS, VIP, FFIV, ORCL, ADBE

Nasdaq did pretty well today. And, the semi-conductors and telecoms pitched in, which certainly helped. Little disappointed about GOOG, but, there were plenty of others to cheer about. Let's take a review with the charts:


Nasdaq looked good today. Last night, I was hoping see that it would close above 2400 and have its MACD turn positive. Both of which it did! And, as expected, it hit the 2410 20-day MA and took a rest there. This was good because we stayed green with good gains and saved room for a burst tomorrow. Let's hope the Feds have nice things to say that would arouse the big rally!!


I was hoping that the semi-conductors and the telecoms would join in today. They did!

SMH closed above the support today. And, we can see that the 10-day MA is still moving up. It is definitely better, but, we need to see a lot more from this sector. Let's hope that we'd get a broad rally tomorrow and that SMH (and the SOX) and retake their recent highs soon!


GOOG was a bit disppointing as it closed a bit in the red. If GOOG had rallied though, we might have gone too fast, for it might have inspired more buying today.

Now, I'm going to "choose" to focus on the good things again:
1) MFI is curing up
2) MACD went up, even though the stock was down a bit
3) the MAs are bunching up, if GOOG can get a big jump tomorrow and pass 458, it would clear all 10-, 20-, 30-day MAs!


I looked at POT last night and thought that if it gets above 156.8, it might make a move. And, it did!

POT managed to close above 158, up more than 4 points! It closed above all MAs, with the 10-day MA curving up. MACD, RSI, and MFI are all shaping up. So, if a rally comes tomorrow, we might have 166 look for!


GS was able to get some buying interests today.

It closed right at 204 today, above the 20-day MA and the 30-day MA is not that far away. MACD, MFI, RSI are looking up, with MACD being positive.


Now, the casino group made some good jumps today, with MGM up 4.2% and WYNN up 2.8%, but, LVS (normally, the strongest in the group) was only up 2%. So, I thought it might go up more and be the strongest tomorrow.

Its chart looks good. It closed above 20-day MA and touching the 30-day MA. The MACD had already turned positive and is moving up nicely. And, it had good buying volume today. So, let's hope the rally is there tomorrow and LVS would participate in a big way!

I will keep an eye on VIP and FFIV tomorrow also. VIP made a hugh move yesterday and backed off a little today. FFIV is looking ready to run with the pack! In after hours, ORCL and ADBE had good earnings news and both advanced. So, it's all waiting for the Feds. Hopefully, what they say will spark the market tomorrow and get a broad-market rally going!

Monday Night Review (GOOG, AAPL, Nasdaq, SMH, POT)

So, we've had a nice Monday rally. Let's see how things are looking:

Last night we looked at GOOG's chart, and saw that the 10-day MA was flattening. I thought that GOOG might make a move up today. And, it did!

GOOG's daily chart shows that the 10-day MA is curving up; a good sign. Also, MACD, MFI, and RSI are all going up. Would like to see higher buying volume tomorrow.

The intraday-hourly chart shows that the MFI still has room, so we could see 455 tomorrow, or higher, depends on how fast GOOG wants to move. If we get good news from the Feds on Wed, GOOG could blast through 465, which could really send it up!

AAPL's daily chart is picking up momentum. It made a little breakout today.

Nice up volume. The MAs are moving up well.

AAPL's intraday hourly chart shows that its MFI made some room for it to go up more tomorrow.

We didn't get a participation from the semi-conductor sector today. Let's take a look at the SMH:

It closed just below the support at 34. We really need to see some strength from this sector for the rally to continue.

Nasdaq did well today. We closed above the 10-day MA, which is curving up.

We need to watch out for the 20-day MA as an initial resistance. Hopefully, we can close between 2400-2425, tomorrow. If the Feds decide to be nice on Wed, Nasdaq needs to break 2440 and go above the MAs to continue the rally!

POT is a nice momentum stock. I'm watching it hoping that it will turn up and go into 170s again, soon:

The intraday hourly chart shows that if POT breaks 156.8, it might start to fly again. The stock is traveling along the 10-hour MA right now. I noticed that the MACD, MFI (bottom), and RSI are all turning up.

So, we've had a nice day for the bulls. As I thought last night, we'd get a rally today. Hopefully, we'll see it continue tomorrow. But, it really depends on what the Feds say on Wed. If they decided to be nice, the market sentiments should turn more positive.

POT

Watching POT closely. The daily intraday charts are turning around. If it gets to 156, it might start to run up fast. Will show charts tonight.