Marubozu - My Stocks Investing

US Market Indices Review: Dow Jones Industrial, S&P500, NASDAQ

Post author:Marubozu
Post published:September 17, 2011

Stock market staged an impressive rally last week with NO BAD NEWS. Is this the return of the Bull market? Base on the chart pattern, it looks like a Bear Market Rally as all 3 US indices Dow Jones Industrial, S&P500 and NASDAQ are forming a Bear Flag chart pattern. Both Dow Jones Industrial ($DIJ) and S&P500 ($SPX) are getting near the Flag Resistance and the 50D MA resistance, whereas NASDAQ has reached the Flag Resistance and the Triple Tops neckline. Watch out for the potential trend reversal pattern in the coming few days. Another scenario will be all 3 Indices break the Flag Resistance and 50D MA resistance. The Bull may return if this scenario happens.

Previous Analysis on Dow Jones Industrial, S&P500 and NASDAQ.

STX OSV: Sell Down with High Volume!

Post author:Marubozu
Post published:September 17, 2011

STX OSV has a massive sell down on last trading day. The stock is currently testing the uptrend channel support and the 61.8% FR support at about $1.216. This uptrend support is also the neckline of a skewed Head and Shoulders chart patten (can you see it?). Breaking this neckline support will send STX OSV to breakdown target price of about $1.00.

Venture Corp: Watch this $7.00 Support!

Post author:Marubozu
Post published:September 16, 2011

Venture Corp is currently just sitting on the $7.00 which is the 61.8% Fibonacci Support. Immediate resistance is $7.37 which is the support turned resistance level. Venture is on down trend and 20D, 50D and 200D are trending down. Breaking this $7.00 will send Venture to $6.245 (the 50% FR or Gann level). Also take note that there is no immediate support in between these two levels. —- A coming Possible FREE FALL?