Boris Market Charts

Thursday, February 28, 2008

Charts for thought

Dow Jones

Here is a 5 year chart with a zoom in into the last 30 days:

A shorter term chart (9 month):

S&P 500

Here is a 5 year chart with a zoom in into the last 30 days:

And a shorter term chart (9 month):

Tuesday, February 26, 2008

DIA
We broke the major Green resistance and closed above it. This looks very bullish to me. We have a shorter term Brown resistance to overcome. Expect a retrace back to Green and possibly a break through Brown.

SPY
Pretty much identical setup to DIA. Except, the Pink channel resistance has acted as support today and might hold tomorrow, if not - expect a retrace to Green, and possibly a break through Brown.

QQQQ
Broke through major Aqua resistance and closed above it. Again, a very bullish setup. The Pink trendline has acted as very significant support today and will likely hold tomorrow. The shorter term Blue resistance was penetrated today, but we closed just below it, so watch that line tomorrow. The even shorter Brown horizontal resistance aligns the 3 tops since Feb.19 and is a significant short-term resistance level.

IWM
A different scenario here. IWM is yet to break any of its potential major resistance levels. I am going to watch the Green tomorrow to see if it has any significance. A close above Aqua will improve the bullish case on this chart.

Monday, February 25, 2008

Intraday Charts

Wednesday, February 13, 2008

Perfect lineup for a turnaround

Saturday, February 2, 2008

End of the bear market rally

I am quite confident that Monday will mark the end of the bear market really we have been experiencing since Jan 22. The reason: we are approaching huge resistance levels on all indices and their corresponding ETFs. The charts below speak for themselves. The noted levels for each chart are, what I believe, going to be the highest levels we will see on Monday, marking the end of this rally.

INDICES:

Dow Jones, 9Mo chart. Probable resistance level on Monday: 12850