Monday, July 24, 2006

Stocks for Tuesday

Here's the charts that I promised. They might get cleaner in time, but here's first the updated S&P 500 chart, demonstrating my theory on the Inverse Head & Shoulder's coming up. Notice it's still within bounds

Next, is the Gold & Silver Index. I've outlined the normal Head & Shoulders that I see. I suppose it makes sense that it's moving opposite stocks, since Gold is a defence to falling stock prices.

Here's the sum of the stuff from yesterday. ACO & ERTH stayed within bounds, and aren't going anywhere spectacular for tomorrow.

SCON & REY blew out my first upper resistance lines, but have defined new levels that could also work. SCON might go down tomorrow, but REY should be approached with a new tactic, watching the RSI for reversal, and then short.

Here's the new market movers:

PGH just hit a lower support of $21.85. This should indicate it's time to go long.

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