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?

Charts and comments are NEVER INTENDED AS ADVICE...

Thanks for visiting...

00K

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

Candlesticks

There are many trading strategies based upon patterns in candlestick charting.
Here's a couple that caught my eye.

(Click any chart to enlarge)


Gravestone Doji, typically signals reversal
when it occur's after an up-trend...


The last two candlesticks formed a Dark Cloud
Bearish pattern...

Although the above patterns are highly reliable confirmation is needed...

00K

Links

A "Green" Light for 2007 Rate Hikes?
http://www.businessweek.com/investor/content/oct2006/pi20061024_120997.htm?campaign_id=rss_daily

Foreclosures on the rise nationwide
http://www.msnbc.msn.com/id/15404418/

French consumer spending drops sharply
http://www.ft.com/cms/s/b8868c90-6340-11db-bc82-0000779e2340.html

CBI reports drop in UK manufacturing
http://www.ft.com/cms/s/f1944ff4-6345-11db-bc82-0000779e2340.html

Watch out for ballooning credit-card fees
http://money.cnn.com/2006/10/23/pf/saving/toptips/index.htm?postversion=2006102312

Not responsible for information found on other sites...

00K

Sheet metal & Steel

HOT!

• All up over 5% today...
  
  
  
  
  
  
  
  
  
  (Click any chart to enlarge)
  

Charts and comments are NEVER INTENDED AS ADVICE...

00K

Under $5

Channel, watch for a break...


Channel, watch for a break. Multi-month base...


Potential double bottom with positive divergence...


Pennant, watch for a break...


In an up channel...

00K

On tap for Tuesday 10/24/06

ICSC-UBS Store Sales (wk10/21 , 2006)

Redbook (wk10/21 , 2006)

State Street Investor Confiden (Oct , 2006)

FOMC Meeting Begins (Sep , 2006)

00K

“An Eerie Stillness” by Jeffrey Saut

http://www.raymondjames.com/inv_strat.htm

A good read...........

00K

Transports

(Click any chart to enlarge)


AMR (Airlines) shows recent strong volume
and will be testing it's May high...


NSC (Railroad) stalled at the 200ma...


CSX (Railroad) testing it's May highs...


ALEX (Marine Transportation) stalled at the
200ma and also showing some negative divergence...


CNW (Trucking) testing the previous lows...


BNI (Railroad) testing it's June high...


CHRW (Trucking) struggling with it's June low...

Charts and comments are NEVER INTENDED AS ADVICE

Thanks for visiting...

00K

TICKQ

Will today's TICKQ reading precede a downturn in the Nasdaq?


00K

Week Ahead

Next week, which is in the middle of the third-quarter earnings reporting period, the Federal Reserve's monetary policy committee meets and is expected to leave interest rates unchanged again, making the two-day meeting a likely nonevent for stocks...

Companies due to report next week include American Express Co., AT&T Inc., Ford Motor Co., Halliburton Co., Kimberly-Clark Corp., Texas Instruments Inc., Kraft Foods Inc. and Exxon Mobil Corp...


(Click any chart to enlarge)


Which way will it break?


Is this nice run coming to an end?


Ascending triangle...


Showing recent multiple distribution days...


Flag...


Testing it's uptrend line.
Were the two spikes bull traps?


Showing recent strong accumulation...

Charts and comments are NEVER MEANT AS ADVICE...

00K

Oil

(Click any chart to enlarge)


Sunoco, looks like it could be making a right shoulder...


AMEX Oil Index, consolidating flag pattern
where the 50/200ma meet...


Exxon, showing an ascending triangle formation...


XLE, consolidating flag pattern at the 50/200ma...



Thanks for visiting and have a great weekend...

00K

Home Builders

Charts and comments are NEVER INTENDED AS ADVICE...

00K

Housing

Defaults climbing in Bay Area housing market:

http://www.bizjournals.com/sanjose/stories/2006/10/16/daily58.html?from_rss=1

Home Builders Beginning to File for Bankruptcies, Straining Lenders, Worrying the Fed
On October 11th, Kara Homes, a major New Jersey homebuilder with assets of $350 million filed for bankruptcy. They are one of the first decent sized builders to make such an announcement, but it is unlikely that they are the only ones feeling financial strain at the moment. Larger homebuilders such as Lennar, D.R. Horton and KB Homes have already signaled that they will be reporting weaker profits or lower sales. The impact is being felt across the board as Kara’s bankruptcy deals a major blow to its creditors, who are regional banks such as Amboy National. According to the Ashbury Park Press, Amboy holds $58.2 million in loans with Kara Homes Inc. Unfortunately for Amboy, this is the second time in five months that they have had to deal with faulty loans. Real Estate Mogul Solomon Dwek of Ocean Township bounced a $25.2 million check five months ago and had his assets frozen by a Superior Court judge. Amboy says Dwek owes it $49.7 million, which makes it the largest bank creditor in that case. Ashbury Press also adds that Amboy was not the only bank included in the Kara bankruptcy filing. National City Bank of Philadelphia holds $48.2 million on loans to Kara. North Fork Bank of Edison holds $21.3 million; TD Bank North of Portland, Ore., holds $15.9 million; Yardville National Bank holds $7.8 million; Magyar Bank of North Brunswick holds $7.5 million; and Park Avenue Bank of New York holds $3 million in loans to Kara. Kara’s bankruptcy may be a good time for investors to think about whether more banks are exposed to this same problem. In the past year, bank exposure to mortgages and home loans has hit an eight year peak. If more of these bankruptcies occur, the Federal Reserve may have a much more serious problem to deal with than inflation.
http://biz.yahoo.com/fxcm/061018/1161196805704.html?.v=1

Housing Correction Just Getting Started?
http://www.nysun.com/article/41659

00K

DOW briefly crosses 12000 but tech.........

I will be keeping an eye on the Semiconductor Index...



00K