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08/17/2009:市場評論

(2009-08-17 14:00:54) 下一個
08/17/2009:市場評論

The long-time wanted correction has finally come amid today being the first day of  OE week when it's due to kill longs after a sharp uptrend.

SPX/NDX has been strongly consolidating above 1000/1600 and today both opened with gap down and resulted in a close of almost the lowest within narrow trading range: no opportunity for new shorts; opportunity for new bulls as there was close-market uptrend in the past several trading days; no day-trade opportunities.

SPX/NDX may quickly touch the major support which happens to be 50 SMA 945/1510 as the first consolidation target.

Major index components are in challenging shape as well and hence may imply continuous big downtrend:

JPM gapped down and went lower today, next support 38.
BAC demonstrated reasonable strength, may test 15 though.
GS gapped down and broke 160 support with volume, next support 150 which happens to be 50SMA.
IBM gapped down and closed as a positive bar with flat volume, may fill the gap at 111 with testing the secondary support.
GE gapped down and closed at joint 20/200SMA with heavier volume, may fill the gap at 12.50 which happens to be the joint 50/100 SMA.
XOM gapped down and closed at filling the gap of 66.50 with heavier volume, may touch 65 before reversing.


MSFT gapped down and closed as a doji with flat volume. First support 23 if broken next 22. Should be falling-proof.
INTC gapped down and closed as a doji with flat volume. First support 18 if broken next 17 to fill the gap, might be a good indicator to observe the market.
CSCO gapped down and closed lower with filling gap on ligher volume. First support 50SMA 20.20 if broken next 18.70 which fills a gap and tests 100SMA, might be a good indicator to observe the market too.
GOOG gapped down and closed lower on heavier volume, may continue to gap down and go lower.
AAPL gapped down and closed lower on heavier volume, may continue to gap down, break 50SMA 148 and go lower till 145.
SBUX gapped down and closed as a doji on flat volume, may continue to gap down to 16 if broken next support 15 which fills gap.

AMZN, the first NDX stock that crossed and held above 200SMA in the bull run since March. Gap-down opened and closed as a doji at 100SMA, which is below 50SMA, with a little heavier volume. May touch 75 before reversal.

The market is in bad shape due a decent correction.
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