Rosey's Outlook


by J.D. Rosendahl

Tuesday, November 8, 2011

Stock Charts: Markets Push

$SPX 15 Minute:  Still looks like ABC up because price is holding below the minor up trend line and price up looks over lapping.  We might get a small ending diagonal to finish B.




$SPX 60 Minute:  It still looks like an ABC flat pattern.  If so, then C should hold the support box in red.  Maybe the 200 period MA at most to the down side.



IBM:  It continues to grind higher inside the channel.  MACD is trying to turn up.




AAPL:  Price is back to resistance on the gap.  We should see some volatility in this stock soon.




My Watch List:  Just a couple ideas going to far.

CGEN:  I've had this up before and we have maintained a position in this stock for a couple months.  Price broke above the down trend line and then back test it.  Then consolidated sideways and we might have a diamond pattern.  Price is testing the structure.



FTEK:  Price gapping and pushing above a couple of down trend lines on strong volume with plenty of room on the RSI to support further upside.





From My Trading Desk:  Today we took a small long on FTEK.  Still keeping my trading activity limited for the time being.

Happy Trading

J.D. Rosendahl, Rosey