The S&P 500 on the weekly chart
is about at the former all time high so a final break does seem
likely.
The NYSE also at a high
and it is moving above the top B-band so a caution flag at least
short term.
While the NYSE moved above the top B-bands the percentage of stocks
in it trading above their 50-day average dropped. Not a bullish
sign.
The Russell 2000 also has been unable to
join in a rally and not above the February highs. Someone wrote who
is hoping that the small caps can come back as they like to trade
the lower priced stocks. They could have another fling but they lead
the market for 3 years and the end of bull markets often are lead by
the large caps. Actual I understand that with lower priced socks you
can buy more shares but a 7% gain in a $50 stock is the same profit
as a 7% gain n a $2 stock so instead of buying 1,000 shares or the
$2 stock you can buy 40 shares of the $50 one.
The Nasdaq still at the top of the channel and a final push to 2600 may
still happen but it is quite over bought as shown on the stochastics.
The BPCOMPQ has made a bearish crossover
dropping under the 20-day EMA. This however is prone to whipsaws but
still not a positive sign.
This shows the underperformance
of the Nasdaq to the S&P 500. If you are playing
spreads you could short the Nasdaq and go long the S&P and make
money as long as the ratio holds regardless if in an up or down
market. Shorter term though this has fallen now under 20 on
stochastics so may bounce.
The Sox after having broken out is testing the break out area.
Another ratio chart showing the S&P to the Russell and a golden cross seems
about to take place and it has already broken the downtrend line. So another
spread would be to short the Russell 200 futures and go long the S&P as long as
this ratio continues up.
We have not seen this chart since last May when
we used it to show the relative overbought condition of the Dow.
Each of the yellow lines are the same length and are only to show a
visual reference as to how far above the 50-day EMA each index is
trading now. The Dow in 2004 got to the top of the yellow line and
this time is above it. Only an extended sideways movement or a
pullback can correct this overbought condition. The S&P 500 is also
over the top. (the notes on the charts are from last year and left
there as reference so may not apply today)
Oil has been moving up
this week and would break out over $67.
Gold broke below its trend line and the top Fibonacci line and may
rally back to it but would have to regain that area to become
bullish as it may start back down soon.
This monthly ratio chart still shows the out
performance of the Dow to gold.
Our lovely Value Line monthly - but no new highs.
The economic calendar from briefing.com - very light
this week.
Out 3 special situation stocks all still consolidating
after their first large initial run ups and each company progressing
well and it is likely that we will see news on all of them this week
prompting gains. The long term potential on all three stocks is very
high,
NNRF has been testing the support again
and they had just great news this week. The stock is relatively
unknown and many do not understand the significance of the news but
we will see the result in the future.
The
news was the
appointment of
Victor D. Akhunov to
head NUCON's Decommissioning Projects. Mr. Akhunov
was
the head of the Department for Decommissioning of Nuclear and
Radiation Hazardous Facilities of the Federal Agency for Atomic
Energy of the Russian Federation.
Mr. Akhunov has
been involved since inception in all of the Northern Dimension
Environment Projects and is a key author of the programs that are
now funded with $4 Billion by the G-8 countries. He has worked since
inception with all of the donor countries and the European Bank of
Reconstruction and Development that will administer the projects. He
is considered by these two organizations and by the EU to be the
most knowledgeable and experienced expert on the current and future
decommissioning projects in the Russian Federation. With Mr. Akhunov
joining the CEO Valery Lebedev there is no other company, including
multi national energy service companies that have the equivalent of
this management depth and experience. NNRF is in the game and its'
management knows exactly which projects to use the technologies, how
to organize the applications with the design services of ATOLL and
to tap into the other Federal Agencies of the Russian Nuclear Energy
(that they formerly administered) for all of the support
services required. Collectively there is no private company that has
those integrated resources.
The company also filed an
amended 10-SB with the SEC to included some updated information. The
SEC now has up to 30-days to ask for comments and the company
will then reply to those comments in order to move to the major
exchange.
And on another note
the company now plans on making a road show to start in the next
couple of weeks to
the Middle East.
Cairo, Oman, Abu Dhabi and Dubai. This should being in much interest
to the company stock.
This consolidation
period looks like it may soon end as the support levels have been
tested.
CYRX also still in
consolidation in front of the news. We think the next run will be
stronger than the last and expect news may begin this week.
CFPC in a triangle and
looks like the break out may been soon and also news is expected.
HSXI chart not shown as it is unchanged awaits news. They have opened an
online store,
My Arthritis Store where they
sell the original version of the enSonix@home
and take pre orders for the new version.
Wanted to mention this one -
Sweet Success as it has been getting a lot of attention lately. I
have not done homework on it so check the
company site and do
some D&D. They make beverages and one GlucaSafe that is
popular with diabetics.
SWTS
not on our usual watch list but pointing out its $0.40 level.
New additions to our watch list.
ICOC Big volume Friday. A bit more
risk than usual but good momentum now. Over $7.67 or the $7.75 high.
ALKS Above $17.20
AMSC nice basing
period so new level is at $15.25
CAMH Above $4.08.
MNST over
$50.30
CEPH clean over
$82.00
WFII a bit more risk
than usual - not sure exact price $1.60 or on pull back with 50-day
stop.
COTE look for break
out of the triangle to the upside
OMTR Over $19.28
GT over $35 again
or $35.25 the Friday high
The two photographs from
http://www.hassan.tv/
The Red Sea - Day and Night
.jpg)
.jpg)
That's a full lid for today - will see you all
during the week.
Check the
Earnings Calendar
on all overnight holds.
Check the current
message board also for other good
stock candidates as there are several there right now.
If you use StockTiger mail you can access your account using simply
my.stocktiger.com
If
you would like a free StockTiger.com email address that uses the Google
Gmail interface so you can check your mail from anywhere, (you do not need a
Gmail account) send me (ST) a
personal message from the
message board
Include your First and Last name and the name you want to use. Your address will
then be (your choice)@stocktiger.com
Best regards,
StockTiger.com
