The market acted like a yo-yo. Yesterday Dow Jones Industrial was down 115 and today it’s up 172. The blue lines might be the bottom for the short term. We shall see some upside to test the SMA 200 which acts like the dividing line of bulls and bears.
Tag Archives: Short
GOOG
Although YHOO has lost ground due to revenue short fall, GOOG looks good. 350 appears to be within reach.
MSFT’s breakout
As expected a few days ago, MSFT broke out this ascending triangle. It looks bullish short-term.
QQQQ
If you’re aggressive, short it. The downtrend line has pushed it right back.
SLB
The good earning report pushed it to break out this triangle, but the doji and long red candles didn’t look good for the bulls. If it moves below the trend line, it may be a short. Going long from this point does not provide a good risk/reward opportunity as the overhead resistence is very close at 73.27.