ONLY A CRIMINAL SCAM BRAIN WILL PUMP SCAMZON NOW:LOL 46 minutes ago
THIS SCAM ..........USA PENSIONS LOOT IN BILLIOSN
BEZOS CRIMINAL GANG..........LAST HURRAY LOOT MISSION COMPLETE
WHO ARE THE NEW SUCKERS NOW?
FIDELITY/TROWE..........CRIMINALS BUST USA PENSIONS
THIS SCAM................IS NOT WORTH $15
NO DIVIDEND SCAM FOR PENSION LOOT BY JEFF BEZOS CRIMINAL GANG
FSLR crash continues
Financial Markets Wedge Patterns Everywhere Means All Stocks will Sink
Nasdaq 100 – Cl 1753.63 - The high volatility and triple testing of the area just below 1780 on Comex at the top of the recent rise this month, suggests a high degree of confusion. This is more apparent on the more sensitive Comex chart than the daily chart below. I would expect from what I have read, that this confusion and low volume volatility we are seeing in the market generally has more to do with the poor timing of shorting decisions, rather than any strong feeling that the market will go much higher. And despite the recent price rises experienced by Microsoft and Amazon, all long term resistance lines mentioned in my last posting on the main indexes remain intact, which leaves the market with little upward potential energy to force a way 2008 resistance areas.
S&P 500 – Cl 1079.60 - Comex charts suggest there could be some sort of attempt to rally on Monday, so this will be a good chance to see how much underlying strength the market really has - I suspect very little, even it if the market is somehow able to nudge into new highs. Ditto for the Dow. Should the market fall, there is little support between here and 1000/1020, the lower number being both an important uptrend and a testing of the early September lows (975 to 1000).
Nasdaq Bank Index ($BANK) - Last 1649.67 – I consider the Nasdaq Bank Index a more conservative way of looking at the US Banks. And considering the way the major banks have rallied over the last seven and a half months, it’s quite surprising that this index has remained below the downtrend. This suggests that at this late stage in the bear market rally, the trend is most likely to stay intact, having reversed multiple times off it since early August 2009. It’s also surprising how little this index has risen since April compared to other sections of the market.
Any fall below 1600 would see a testing of the July 1500 lows, while a move below 1500 would probably confirm a major sell on the market. Not much leway here. A mere 150 points or just 9% between current prices and something I have no wish to contemplate. Watch this space.
Technical Indicators Are Equally Weak …
The whole technical picture has become very fragile during the past weeks:
Volumes have been dismal: Declining when the market rose and rising when it retreated.
Momentum indicators show multiple negative divergences: They did not rise to new relative highs during the past three up-waves in the market.
Market breadth shows a similar picture: The ratio of advancing to declining stocks was lower at each of the past up-moves in the market.
Put-call-ratios were back to frothy levels: The equity only put-call-ratio fell to 0.52 a few days ago, a level often associated with short-term exhaustion.
"I guess, it means that the top is in for AMZN "
I'm not bold enough to say the top is in. But AMZN will soon go lower than $120. And really, that's all I care about. I really wish we could get an up day so I could see how AMZN behaves. These down days are meaningless to AMZN. I would not be surprised at all to see the naz up 30, and AMZN down $5.