Essential LongView ChartsUpdated each weekend by Jack Longview, student of the markets. Synchronize your portfolio with the market's true seasons, your life-stage and risk-tolerance.(Untitled)- January 31, 2003 Some interesting Mag-5 chart clues I'm clicking through the Mag-5 (1-year view) of the top 20 OEX stocks. Notice the ceiling at 90 for IBM, and the sudden drop in early April 2002. Three attempts to "close that gap" since April have failed. And Mag-5 Summer trend has turned to Autumn. With Microsoft below 48 and the Mag-5 trend in Winter, look for a floor retest at 43 as the next major event. Amgen is still on a Summer tear. Citigroup's ceiling is at 38. And Mag-5 trend is slowly turning...http://radio.weblogs.com/0117431/2003/01/31.html#a52 (Untitled)- January 31, 2003 Short Summer's over, for now Mag-2's two-day Summer trend couldn't move through the door at 437. Call it a dead-cat bounce. Call it a very short-term bear rally. Call it a wheezing breather at 427's floor. Whatever you call it, the early week "rally" had about as much chance of turning Winter to Summer as a hot cup of chocolate in the middle of a blizzard. Look for a Friday morning test of the 427 floor. Mag-2 chart "shows some ceiling" in the 432 zone. I'm thinking there's too much...http://radio.weblogs.com/0117431/2003/01/31.html#a51 (Untitled)- January 29, 2003 This week's lectionary readings I'm a few day's late posting the links to this week's Mag 10 Long, Long View scripture readings. They are now posted here. Or click on "Mag 10 Lectionary readings" in the links list under the calendar. I'll add some of my "big ideas" later this evening or tomorrow morning.http://radio.weblogs.com/0117431/2003/01/29.html#a50 (Untitled)- January 29, 2003 Midday Wednesday observations In the first 15 minutes, the OEX dropped to 427.9, a fall of roughly 1.5%. A successful retest of the 427 floor before 11 a.m. has given the OEX shock troops confidence to advance against the 435 door. The door opened a crack and they have now established a toe-hold above that "ceiling line." Losers outnumber advancers by 5:4. Click on Mag4 cycle (the 6-month view) and see how the OEX acted in early September after a similar 9-day slide. It found a floor at 435..http://radio.weblogs.com/0117431/2003/01/29.html#a49 (Untitled)- January 29, 2003 Monday and Tuesday's actions Friday's floor of 435 quickly broke Monday morning. And the OEX proceeded to test the floor of 427 by noon. 427 held, for now. What does a market do when it finds a floor It pushes off to retest the previous ceiling. And that's what the OEX did yesterday. It took a breather and Mag 1 and 2 cycles turned to Summer long enough to tap on 435's door. Is that door firmly locked, for now The overseas markets' reaction to the State of the Union speech (driven by a fear...http://radio.weblogs.com/0117431/2003/01/29.html#a48 |