HOT SPOT CHARTING...

(Click charts to enlarge)

S&P500 could meet it's all time closing high (monthly chart)...


However the S&P 500 High-Low Index shows that
the 10ma has yet to crossover the 20 ma (weekly chart)...


S&P/TSE, Could be beginning a new cycle (daily chart)...


Dow Jones World Stock Index.
A potential ending 5th wave (daily chart)...

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HOT SPOT CHARTING...

DOW JONES WILSHIRE TECHNOLOGY INDEX...


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HOT SPOT CHARTING...

(Click charts to enlarge)

DJIA dashed line with $SPX, $SSEC, $HSI.
2006 bottom all four indexes are together.
2007 April all four indexes are together again......
Not guessing what it signifies but worth noting....


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HOT SPOT CHARTING...

Furniture Brands to cut jobs, close manufacturing facilities1:27 PM ET, Apr 27, 2007 - By Katherine Hunt - 11 minutes agoSAN FRANCISCO (MarketWatch) -- Furniture Brands International Inc. said Friday it plans to cut about 80 executive and administrative positions across the company. FBN

Tecumseh Products to cut 310 jobs1:07 PM ET, Apr 27, 2007 - By Gabriel Madway - 31 minutes agoSAN FRANCISCO (MarketWatch) -- Tecumseh Products Co. said Friday it is eliminating roughly 310 jobs in an effort to improve efficiency and return to profitability. TECUA, TECUB

Crude futures climb past $66 as gasoline prices rise12:22 PM ET, Apr 27, 2007 - By Myra P. Saefong - 1 hour agoSAN FRANCISCO (MarketWatch) -- June crude climbed as high as $66.05 a barrel Friday afternoon, and was last up 89 cents at $65.95. Traders remained concerned about gasoline supplies following a 33 million-barrel drop in U.S. inventories over the last 11 weeks, according to Energy Department data.

Avid Technology's profit falls; shares slip11:51 AM ET, Apr 27, 2007 - By Gabriel Madway - 1 hour agoSAN FRANCISCO (MarketWatch) -- Avid Technology Inc. shares fall 11% to $34.30 in Friday morning trade. AVID

Intervoice swings to loss; shares fall11:33 AM ET, Apr 27, 2007 - By Gabriel Madway - 2 hours agoSAN FRANCISCO (MarketWatch) -- Intervoice Inc. shares fell 15% to $6.21 in Friday morning trade. INTV

Curtiss-Wright shares gain on first-quarter results11:20 AM ET, Apr 27, 2007 - By Gabriel Madway - 2 hours agoSAN FRANCISCO (MarketWatch) -- Curtiss-Wright Corp. shares gained 11% to $46.31 in Friday morning trade. CW

CommScope profit surges; shares rise 11:11 AM ET, Apr 27, 2007 - By Gabriel Madway - 2 hours agoSAN FRANCISCO (MarketWatch) -- CommScope Inc. shares rallied 11% to $50.49 in Friday morning trade. CTV

Universal Truckload's quarterly profit falls; shares sink10:57 AM ET, Apr 27, 2007 - By Gabriel Madway - 2 hours agoSAN FRANCISCO (MarketWatch) -- Universal Truckload Services Inc. shares fell 17% to $22.44 in Friday morning. UACL

U.S. vacancy rate rises to record 2.8% in first quarter10:19 AM ET, Apr 27, 2007 - By Rex Nutting - 3 hours agoWASHINGTON (MarketWatch) -- The vacancy rate for owner-occupied homes rose to a record 2.8% in the first quarter from 2.7% in the fourth quarter, the Commerce Department reported Friday.

Visit MarketWatch for great commentary and charts...
http://www.marketwatch.com/

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HOT SPOT CHARTING...

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Zimbabwe inflation reaches 2,200% (BBC News)

Inflation in Zimbabwe reached a record 2,200% in March amid a deepening economic and political crisis in the southern African country.
Both food and non-food contributed to the year-on-year inflation rate, said central bank Governor Gideon Gono.
The March data had been due for release earlier this month but had been delayed, fanning fears of further crippling price rises.
Mr Gono said secured interest rates would rise to 600%, up from 500%.
He said the Zimbabwean currency would remain at the existing exchange rate of 250 to the US dollar but offered a new rate for central bank purchases of foreign currency to help build a new "drought stabilisation fund".
Exporters claim their businesses have been devastated by this skewed exchange rate. Inflation hit 1,730% in February, the highest in the world.
http://news.bbc.co.uk/2/hi/business/6597993.stm

Admission of ETFs and China CITIC Bank as Designated Securities for Short Selling ...

The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of Hong Kong Exchanges, has announced that the following Exchange Traded Funds (ETFs) will be admitted to the list of designated securities eligible for short selling tomorrow (Thursday, 26 April) when they are listed on the Exchange's Main Board.
Stock Code Name, 2810 Lyxor ETF MSCI India, 2813 Lyxor ETF MSCI Korea,
2826 Lyxor ETF Nasdaq-100, 2809 Lyxor ETF Commodities CRB

">

Hang Seng Index (27/04/2007)
HSI 20526.5 (-140.79) -0.68%

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HOT SPOT CHARTING...

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Some laggard's suggesting this is not a broad based rally.

At least not yet...

SELLING CAN POTENTIALLY BEGIN AT ANYTIME.......

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HOT SPOT CHARTING...

RUSSELL 2000...


IWM, Pushed through on lower volume...



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HOT SPOT CHARTING...

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NIKKEI, Having some trouble with the 50ma...


NIKKEI 300 INDEX...


HONG KONG HANG SENG (INDEX)...


Hong Kong HANG SENG HK MID CAP (INDEX)...


BlackRock chief warns on leveraged loans(FT.com)
http://www.ft.com/cms/s/2604e61e-f369-11db-9845-000b5df10621.html

S&P More Than Doubles Alt A Mortgage Bonds It May Cut (Bloomberg.com)
http://www.bloomberg.com/apps/news?pid=20601103&sid=aygOoDr2GA0k&refer=us



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S&P Transportation Index...


D J Transportation Index...


Nasdaq Transportation Index...

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HOT SPOT CHARTING...

New Zealand Raises Key Interest Rate to Record 7.75% (Bloomberg.com)
http://bloomberg.com/apps/news?pid=20601087&sid=aJycXQDP3FjA&refer=home

Apple Quarterly Profit Soars 88% on IPod, Mac Sales (Bloomberg.com)
http://www.bloomberg.com/apps/news?pid=20601087&sid=aGuHuoEzJN5I&refer=home


Revenue Falls Short at UPS (The Street.com)
http://www.thestreet.com/_dm/newsanalysis/transportation/10352711.html

Sallie Mae Board Members Under SEC Trading Probe (Washingtonpost.com)
http://www.washingtonpost.com/wp-dyn/content/article/2007/04/24/AR2007042402086.html

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HOT SPOT CHARTING...

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TRINQ, Black line = Nasdaq, Blue=10ma, Red=20ma.
Could see volatility returning at anytime...


Nasdaq...

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HOT SPOT CHARTING...

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EWS, Breaking down from a rising wedge...


EWI...


IWM, Stalling potential false breakout...


EWH...


EWJ...


NYSE, Weekly chart...

Disclaimer: The content in this blog is for leisure purposes only. The content is not intended as an offer or solicitation to buy or sell any securities. Do not use the content to make any investment decisions.

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HOT SPOT CHARTING...

TRIN (NYSE) could be warning...

Most U.S. Stocks Fall as Confidence, Home Sales Trail Forecasts (Bloomberg.com)
http://bloomberg.com/apps/news?pid=20601087&sid=aBHe3rx.OlEs&refer=home

Japanese Stocks May Slip on Renewed U.S. Slowdown Concern (Bloomberg.com)
http://bloomberg.com/apps/news?pid=20601087&sid=ay5hQFCBwnfI&refer=home

Subprime Bondholders May Lose $75 Billion From Slump (Bloomberg.com)
http://bloomberg.com/apps/news?pid=20601109&sid=aCjo0BY2LlZw&refer=home

China says U.S. piracy case will 'badly damage' ties(CNET.com)
http://news.com.com/China+says+U.S.+piracy+case+will+badly+damage+ties/2100-1028_3-6178615.html?tag=nefd.top

Boston Scientific profit falls 64 pct. (AP)
http://news.yahoo.com/s/ap/20070424/ap_on_bi_ge/earns_boston_scientific;_ylt=Ajkme12GjQy1XpzC0FyJnVWyBhIF



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HOT SPOT CHARTING

MAJOR SELLING COULD POTENTIALLY OCCUR AT ANYTIME.......

NEVER ADVICE
FOR AMUSEMENT PURPOSES ONLY...

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HOT SPOT CHARTING...

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VIX, Perhaps looking a bit overdue & trying to breakout of channel...


QQV, Semi's could get a boost tomorrow on TI forecast (in doubt)
but the last two candlesticks make a potentially bullish pattern that needs confirmation.
Could keep Nasdaq in check. Has potential to breakout.....


This Nasdaq call index could be in trouble...

Charts and comments are NEVER INTENDED AS ADVICE...



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HOT SPOT CHARTING...

3M faces hurdles on several fronts
Wall Street expects profit to drop, revenue growth a mere 2% (MarketWatch)
http://www.marketwatch.com/news/story/3m-likely-show-earnings-fell/story.aspx?guid={10BF9D34-D9A0-4CF6-B973-6C1C43ADF5A7}&siteid=yahoomy

CANADIAN MARKETS
Financial, materials groups pull stocks lower (MarketWatch)
http://www.marketwatch.com/news/story/financial-sector-materials-groups-pressure/story.aspx?guid={98E0DF4E-6A17-439B-8EF7-A8BAF4E365FB}&siteid=yahoomy

Target calls April sales 'much weaker'
Shares tumble in after-hours trading after retailer warns(MarketWatch)
http://www.marketwatch.com/news/story/target-calls-april-sales-much/story.aspx?guid={BFB143F1-FB72-4442-B320-CAF5E3301E22}&siteid=yahoomy


TI profit down 12% on weaker phone chip sales
Stock rises on forecast(MarketWatch)
http://www.marketwatch.com/news/story/ti-profit-down-12-weaker/story.aspx?guid=%7BAB93669C%2DDD62%2D4046%2DAD8D%2D5602F75E0E68%7D

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HOT SPOT CHARTING...

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TICK (NYSE), Hypothetical path...


NYSE,...


QQQQ, Weekly chart......


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HOT SPOT CHARTING...

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DJ Wilshire U. S. Retail Index...


DJ Europe Consumer Goods Index.
A potential blow off top!


Happy Birthday Iggy!!!

As Iggy Turns 60, Bio Recounts Sex, Drugs, Some Rock 'n' Roll (Bloomberg)
http://www.bloomberg.com/apps/news?pid=20601088&sid=atR0cO22pDRM&refer=culture

Chinese investors in share-buying frenzy (FT)

“This is definitely a bubble in the making – for most stocks, positive earnings growth has been priced in until 2009,” said Steven Sun, HSBC equities analyst. “At the height of the last bubble [2000-01], we saw investors opening 2m accounts a month, which is half the current rate.”

“Any money getting into the market now is not smart money and is coming from the kind of people who can least afford to lose it,” said Fraser Howie, author of a book on the Chinese stock markets. “That has to have the government worried about social stability.”
http://www.ft.com/cms/s/c080c96e-edd4-11db-8584-000b5df10621.html


Could be an interesting next few trading weeks & i will be watching a few new support lines.......

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HOT SPOT CHARTING...

DJIA...


NIKKEI 2006 outlining 3500 point decline.....


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