Hot Spot Charting: 22 October

Saturday, October 28, 2006

LINKS

U.K. Inflation Will Reach Fastest Pace Since 1997, NIESR Says
http://www.bloomberg.com/apps/news?pid=20601102&sid=aL2Pp_Pe.mUQ&refer=uk

Australian Drought May Cut GDP Growth, Force Up Rates
http://www.bloomberg.com/apps/news?pid=20601081&sid=aGKZs0meCyYk&refer=australia

November 9-10, 2006
Capital Flows -- IMF Seventh Jacques Polak Annual Research Conference , Washington, D.C.

November 10, 2006
IMF Center Economic Forum: How Does Capital Account Liberalization Affect Economic Growth?, Washington, D.C.

Not responsible for information found on other sites...

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Friday, October 27, 2006

Computer Software

Computer Software Index closed below it's 20dma...
There are 31 components held in this index.
Below are the top 7...

RSI negative and MACD crossover...

Closed below support and sitting between it's 20 & 50dma...

Uptrend intact but RSI below support.
MACD showing some negative divergence...

Above 20dma but closed below horizonal support.
RSI & MACD showing negative divergence...

Slightly pulled back from uptrend resistance...

Resistance at the 20 & 50dma...

Potential triple top...

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Semiconductor's

False breakout on the SMH weekly chart...

H&S formation on the weekly $SOX chart...

Manufacturer and supplier of discrete semiconductor products, primarily to the communications, computing, industrial, consumer electronics, and automotive markets...

Infineon Technologies AG engages in the design, development, manufacture, and marketing of semiconductors...

Cree, Inc. engages in the development and manufacture of semiconductor materials and devices

Fairchild Semiconductor International, Inc., through its subsidiary, engages in the design, development, manufacture, marketing, and sale of power analog, power discrete, and nonpower semiconductor solutions...

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Thursday, October 26, 2006

Click any chart to enlarge...

Focuses on acquisition, exploration and development of gold and copper mineral resources in Asia including properties in Indonesia, Kazakstan, Myanmar, and Fiji.

Peabody Energy is the world's largest private-sector coal company...

At resistance...

Cameco Corporation engages in the exploration, development, mining, refining, and conversion of uranium that is used as fuel for generating electricity in nuclear power reactors worldwide.
Potential double bottom with positive divergence...

EUROZINC IS A CANADIAN BASED METALS COMPANY, ENGAGED IN THE ACQUISITION, EXPLORATION, DEVELOPMENT AND MINING OF BASE METAL DEPOSITS INTERNATIONALLY .
I recently read zinc was in demand...

Metallurgical coal is primarily used to produce coke, a key raw material used in the steel making process. Generally, metallurgical coal sells at a premium to steam coal because of its higher quality and its importance and value in the steel making process...

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Did the $VIX make a bottom today?
Note the rsi positive divergence...

Dow Jones composite Average:
Bearish Deliberation Candlestick Pattern could signal a change in direction.
Confirmation is needed.
Note the declining volume...

Charts and comments are NEVER INTENTED AS ADVICE...

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HOT SPOT CHARTING

DJ Transportation Average Index is up against resistance.
Also note the negative divergence on the rsi...

Nasdaq Advance-Decline Issues is showing a simular
pattern prior to the leg down in July...

(Click any chart to enlarge)

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New Home Price Falls the Most Since 1970

Dollar Declines as New Home Price Falls the Most Since 1970
http://www.bloomberg.com/apps/news?pid=20601083&sid=aW0QxRi1raDU&refer=currency

$CRB and PAPER

Breakout from a pennant formation...

DJ Paper Index broke below the base of a double top.
If it dosent reverse today the target is the July lows
for this formation...

Could the weakness in paper be confirming a slowing economy?

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Wednesday, October 25, 2006

DOW JONES WORLD INDEXES

(Weekly format)

Dow Jones World Index:
Potential double top...

Dow Jones Europe Industrials Index:
Potential double top...

Dow Jones Europe Technology Index:
Ending wedge formation...

Dow Jones Asia/Pacific financials Index:
Trying to overcome gap resistance...

Dow Jones Asia/Pacific Industrials Index:
Vacillating around the moving average...

Dow Jones Asia/Pacific Consumer Goods Index:
Ending wedge formation...

Dow Jones Asia/Pacific Technology Index:
Flat RSI...
Will we see the same results as Oct. 05
with a plausible a larger decline?

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Yankee Candle Co.

NEW YORK, Oct 25 (Reuters) - Yankee Candle Co. Inc. on Wednesday reported better-than-expected profit and said it agreed to be acquired by an affiliate of private equity firm Madison Dearborn Partners LLC for $1.4 billion, sending its shares up 17 percent to a yearly high. Full Article

G M Post Profit

DETROIT (Reuters) - General Motors Corp. on Wednesday posted an operating profit at the high end of Wall Street expectations, but wary investors sent the stock down more than 4 percent on expectations that the easiest part of the automaker's turnaround is nearing an end. Full Article

Quote of the week

"If North America is like the American League, producing most of the winners and Europe is like the National League, producing a winner sometimes, then Asia Pacific is like a corporate game of softball at Central Park on a wet afternoon."
--John Corrin, chair of the Asia Pacific Loan Market Association, on the development of the Asian-Pacific loan market.

Frisch's Reports Record Sales in First Quarter

CINCINNATI, Oct. 25 /PRNewswire-FirstCall/ -- Frisch's Restaurants, Inc. (Amex: FRS) reported record sales for its 16-week fiscal first quarter ended September 19, 2006. Revenues rose 2.0% to $88,248,425 from $86,532,775 for last year's first quarter. Net earnings for the quarter declined 12.7% to $2,272,200 compared to $2,602,031 last year. Diluted earnings per share decreased to $.44 per share, from $.50 per share last year.

Weekly chart shows the potential for a double top...

U.S. crude oil supply off by 3.3M barrels

U.S. crude oil inventories fell sharply and surprisingly last week, the Energy Department reported Wednesday.

Where the commodity had been expected to climb by about 3 million barrels, the commodity actually fell by 3.3 million barrels compared to the previous week.

However, at 332.3 million barrels, U.S. crude oil inventories remain well above the upper end of the average range for this time of year, the Energy Department said.

Gasoline inventories dropped by 2.8 million barrels last week, and are just above the upper end of the average range.

Heating oil and diesel fuel, collectively known as distillate fuels, supplies declined by 1.4 million barrels but remain well above the upper end of the average range for this time of year. Ultra-low-sulfur diesel fuel inventories fell by 1.4 million barrels, while heating oil inventories increased by 700,000 barrels.

Source: UPI (October 25, 2006 - 9:50 AM EST)

Charts and comments are NEVER INTENDED AS ADVICE