Thread: Market Talk / June 4 - 10

It doesn't appear that there is anything earth shattering reports this week.
Week of June 05 - June 10
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Jun 05 10:00 ISM Services May 60.0 60.1 63.0
Jun 07 10:30 Crude Inventories 06/02 NA NA 1599K
Jun 07 15:00 Consumer Credit Apr $4.0B $3.5B $2.5B
Jun 08 08:30 Initial Claims 06/03 325K NA 336K
Jun 08 10:00 Wholesale Inventories Apr 0.6% 0.5% 0.2%
Jun 09 08:30 Export Prices ex-ag. May NA NA 0.7%
Jun 09 08:30 Import Prices ex-oil May NA NA 0.0%
Jun 09 08:30 Trade Balance Apr -$65.5B -$65.0B -$62.0B

you know what I mean?

It's good to see Spaf has stayed in at 100% stocks - gives me a certain sense of courage.

It's time to concentrate on the movements of the A/D lines themselves - unless the A/D line is in a bullish confirmation, important price advances will tend to have a hard time in making much in the way of headway. A bullish confirmation is when the A/D line is above all three of its trend lines. The NYAD looks like its' headed toward a bullish turn again if it can get above the 20 and 40 EMA. Done. There have been times in which the NYSE group of stocks have declined witrhout the benefit of a divergent top with the NYAD itself. There has never been a time in which a bear market has started without this same divergence intact.

All the breadth MCO's are back to and above their zero lines - MCSUM ledges are now forming, same with volume MCO's and their respective MCSUMs. What will be our first clue of how important the recent bottom will be is when and if the MCOs are able to take out the double top formations seen in April and May. Done. The NYUD MCO is 47.57, MCSUM is at -226.98, the NYAD MCO is 50.09, MCSUM is at -212.32. A bottom with soild infrastructure has been placed. On now to the January highs for MCOs. And actually the MCSUM ledges have turn into fish hooks which I think is positive.

As Jovarn posted; a quiet week!..... Will see how she plays out. So far, so good, but who knows for sure! Could be wrong, but I'll side with the Bulls on this one..... Wait and see!
Regards, and be careful!............. ...............Spaf

6/6/06 is tomorrow.....strange day for a strange number 666.....something to think about, not for the day, but for what other people think of it....and what they will do........

looking for some change in direction with the markets this week myself....we will see how much ......if we get a hard day early on I would suspect we would have a stiff correction later in the week or next.....seeing how oil, Iran, interest rates all offer nothing promising, I wouldn't hold my breath....

The next two weeks will be interesting.....

Boy, sure hope we don't get that 14% drop tomorrow.............

Noticed that alot of the foreign markets are taking a hit today......

Excellent article on day trading versus investing, author argues that recent uptick in volatility index favors day trader.

http://www.marketwatch.com/News/Stor...eid=mktw&dist=

Originally Posted by The_Technician

6/6/06 is tomorrow.....strange day for a strange number 666.....something to think about, not for the day, but for what other people think of it....and what they will do........

Yeah, I read this:

"If it really spooks you, you can stand on your head, and it'll be 999."

http://www.foxnews.com/story/0,2933,198183,00.html

It's encouraging to see the Utilities index holding ground today on the Ayatolla sell off - send them all to Allah.

UT OOOOOOOHHHHH! Burntankle can't keep his mouth shut!!!!!!!

06/05/2006 - Updated 2:34 PM ET
Stocks slide after Fed chief talks tough on inflationWall Street sees higher interest rates ahead; oil gains on Iran threat</IMG>By Mark Cotton, MarketWatch

NEW YORK (MarketWatch) -- U.S. stocks fell to their lows for the session Monday after Federal Reserve Chairman Ben Bernanke made a tough speech on inflation, prompting concern the central bank is far from done with raising interest rates. http://markets.usatoday.com/custom/u...0FC38E61FB0%7D