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...

(Click charts to enlarge)

TICK (NYSE), Hypothetical path...


NYSE,...


QQQQ, Weekly chart......


Charts and comments are NEVER INTENDED AS ADVICE.

For amusement only...


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HOT SPOT CHARTING...

(Click charts to enlarge)

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.....


Charts and comments are NEVER INTENDED AS ADVICE.
For amusement purposes only....

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HOT SPOT CHARTING...

THE BULL SCENARIO..........


S&P 500 weekly chart...


WILSHIRE 5000 weekly chart...


Disclaimer: The contents within this blog site are 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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EMAIL- hotspotcharting-ook@yahoo.com

HOT SPOT CHARTING...

(Click charts to enlarge)

NIKKEI...


SEOUL...


CAC, Large megaphone formation that could produce a 15% decline...


DAX, Potentially bearish rising wedge...


SPAIN GENERAL INDEX,
Potentially bearish rising wedge...


QQQQ, Weekly chart...

Targets are based upon textbook chart formations.
They are not necessarily my opinion. It is also important to contemplate that targets getting hit do not in itself curtail any additional advance or decline...

Charts and comments are NEVER INTENDED AS ADVICE...



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HOT SPOT CHARTING...

(Click charts to enlarge)

DOW JONES WORLD STOCK INDEX.
Weekly chart...


NIKKEI, Potential diamond top pattern...


HANG SENG, Potential triple top pattern.
Potential target if triple top plays out...


NASDAQ COMPOSITE.
Lower on increasing volume...

Tomorrow we get options expiration.....


Good luck trading...

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HOT SPOT CHARTING...

China's Economy Surges at Faster-Than-Forecast 11.1% (Bloomberg)

"Growth accelerated from 10.4 percent in the previous quarter, the statistics bureau said in Beijing today. China's benchmark stock index fell 4.7 percent before the release, triggering declines in Asian and European shares, on speculation borrowing costs will rise."
http://www.bloomberg.com/apps/news?pid=20601087&sid=ayl1SIwvQT7o&refer=home

Volatile gold markets demand nerves of steel (MarketWatch)

Even gung-ho pros are wary of taking too much of a shine to precious metals.
http://www.marketwatch.com/news/story/gold-shines-investors-risky-play/story.aspx?guid=%7BCA9DD1B3%2D2E03%2D47DD%2D8479%2DE168603C15B5%7D

Visit http://stockcharts.com/index.html & http://bigcharts.marketwatch.com/ for great charts and commentary..........


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HOT SPOT CHARTING...

QID ProShares Ultra Short.
Were the last weak hands shaken out today....


Volatility Index NASDAQ 100.
Potential diamond reversal bottom.....

"Wall Street never changes, the pockets change, the suckers change,
but Wall Street never changes, because human nature never changes."

~Jesse Livermore




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HOT SPOT CHARTING...

(Click charts to enlarge)



NASDAQ COMPOSITE, Three candle formation.
Potential bearish reversal pattern...


NYSE, Megaphone pattern...


HANG SENG....





Charts and comments are NEVER INTENDED AS ADVICE...


Good luck trading...

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HOT SPOT CHARTING...

Vonage Says That It May Face Bankruptcy (Reuters)
http://www.nytimes.com/2007/04/18/technology/18vonage.html?_r=1&ref=business&oref=slogin

Crude Oil Falls After U.S. Refineries Increase Gasoline Output (Bloomberg)
http://www.bloomberg.com/apps/news?pid=20601012&sid=amC7NolaOB3Q&refer=commodities

Motorola Posts First-Quarter Loss After Price Cuts (Bloomberg)
http://www.bloomberg.com/apps/news?pid=20601087&sid=acW1rXTNCuec&refer=home

Dollar slides to 26-year low against pound (MarketWatch)
http://www.marketwatch.com/news/story/dollar-hits-26-year-low-vs/story.aspx?guid=%7B938DAA61%2D58D9%2D4DF6%2D960A%2D7D27C5B727A4%7D


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HOT SPOT CHARTING...

NASDAQ 100 HIGH LOW INDEX.
50/200 moving averages with the COMPQ.
QQQQ in lower box......


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HOT SPOT CHARTING...

QID, ProShares ultra short QQQ.
Last two candlesticks made a Bullish (Doji) Star Pattern.
Potential reversal pattern needs confirmation...


ProShares Ultra Short Mid Cap 400.
The last two candlesticks made a Bullish Harami Pattern
Potential reversal pattern needs confirmation...

Charts and comments are NEVER INTENDED AS ADVICE...

"Don't expect to squeeze all the juice from the orange"

~Author unknown

Keeping an eye on the Hong Kong Hang Seng...........

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HOT SPOT CHARTING...

(Click charts to enlarge)

NASDAQ COMPOSITE.
Another distribution day...


RUSSELL 2000 iSHARES.
Another distribution day...


HANG SENG, Completed loose 100% retrace.
Where to now.........


Good luck trading...

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HOT SPOT CHARTING...

Mortgage defaults in California near decade high (Reuters)
http://today.reuters.com/news/articlenews.aspx?type=domesticNews&storyid=2007-04-16T185500Z_01_N16324449_RTRUKOC_0_US-USA-SUBPRIME-CALIFORNIADEFAULTS.xml&src=rss&rpc=22

U.S. Foreclosures Double as Refinancing Gets Tougher (Bloomberg)
http://www.bloomberg.com/apps/news?pid=20601103&sid=aUih6TnKypEg&refer=us

U.K. Inflation Unexpectedly Accelerates to 3.1% (Bloomberg)
http://www.bloomberg.com/apps/news?pid=20601087&sid=aJdMzVTtfYEQ&refer=worldwide



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HOT SPOT CHARTING...

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RUSSELL 2000....


S&P 500, Stocks above 50 day moving average...


NASDAQ 100 Buywrite Index-CBOE.

The CBOE NASDAQ-100 BuyWrite IndexSM is a benchmark index that measures the performance of a theoretical portfolio that sells NASDAQ-100 Index call options, against a portfolio of the stocks included in the NASDAQ-100 Index.


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HOT SPOT CHARTING...

TICKQ............

Charts and comments are NEVER INTENDED AS ADVICE...

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HOT SPOT CHARTING...

QID..........




Good luck trading...

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HOT SPOT CHARTING...

$SOX, Tight flag could produce a strong spike in either direction...






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HOT SPOT CHARTING...

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NASDAQ....


NASDAQ, Potential head & shoulders pattern...

Charts and comments are NEVER INTENDED AS ADVICE...

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