Thursday, August 19, 2010

Computer Stocks

Yesterday I highlighted three stocks from the financial sector.  Continuing with the sector theme, here are three stocks from the computer sector.  This time, let's look at the Weekly Trend Models:

DELL Weekly Trend Model


IBM Weekly Trend Model


HPQ Weekly Trend Model


The obvious question that arises is, "It can't be that easy, can it?"    

Past performance is not a guarantee of future results.  

Plus, the past three years have seen some rather large trends, which is exactly the kind of market that this technique is designed to navigate.  

Finally, note that all three of these stocks are in Weekly SELL modes. 



Market Notes

Today's sharp decline out of the gate was enough to turn all Intermediate Trend Models SHORT. Below is a Daily chart of the DJIA with a potential wave count.  Next key level is 9600.