You are currently browsing the The MPT Rating weblog archives for June, 2008.
30. June 2008 by admin.
Monday,
Markets are flat with little direction after Monday’s close…
The DJIA; which is already oversold closed flat today due to a lack of bearish sentiment to press stocks lower; as I mentioned earlier the markets can not sustain these oversold prices and will have to revalue higher… stocks are already forming hammer reversal signals on their charts and I anticipate this will continue until for a few days; early morning sell offs followed by reversal buying, the end result will be little change or a few sessions creeping lower until we get the bounce we area looking for. The RSI indicator for the DJIA is currently at 22.62 – any further selling in this market will simply be bought back up and form hammer reversal signals for the major averages. Watch the MACD signal lines for the bullish crossover and bottom signal.
The NASDAQ; lost 22 points for the day, continue to show more down side potential is possible as the MACD continues to trend lower and the RSI indicator is still not as oversold as the DJIA at only 33.99 as of today’s close.
Today’s MPT (Market Power Trend) Rating, which tells us what “Smart Money” is doing in the market today and what to expect with the overall market tomorrow, came in at (05) and this shows “Smart Money” is taking advantage of this short week as a buying opportunity of heavily oversold stocks in anticipation of a bounce.
As always I recommend investors and traders, be smart, patient, and ever successful.
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27. June 2008 by admin.
Friday,
The larges single day MPT Rating (Showing Smart Money Accumulation) we have ever seen!
The DJIA; which is already oversold as an average is now trading below the January and march lows and now has an RSI indicator of 22.43 and a close below the lower BB line, down 106 points for the day but the oversold conditions should have investors in buy mode here.
The NASDAQ; lost 5 points today, and filled the second gap we have been monitoring on the chart for the past few months… this is an improvement to the overall long quality of this market, and with the radical MPT Rating we know smart money is buying, but they are also letting the market slide as weak hands unload stocks over the summer months and that is when we need to be buying selective quality stocks in anticipation of the next rally.
Today’s MPT (Market Power Trend) Rating, which tells us what “Smart Money” is doing in the market today and what to expect with the overall market tomorrow, came in at (40) and this is the broadest based buying frenzy we have ever seen, and we do look for a strong bull bounce in the overall markets in the near future.
As always I recommend investors and traders, be smart, patient, and ever successful.
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26. June 2008 by admin.
Thursday,
Capitulation is on!
The DJIA; which is already oversold as an average is now trading below the January and march lows now has an RSI indicator of 24.10… and the market will not suffer overselling without more fuel being added to the fire to justify the sell off – and we just don’t have justification for sustained oversold conditions like this… I am looking for a bounce, but now that we have triggered a new low in this pullback the analysis rules shift and tell us something about the future – the next bounce will require a test of the low as our last one did not hold, therefore when the market does get hot and heavy advancing forward we must resist the temptation to chase it, as we know it must test the low.
The NASDAQ; lost 79 points today, but I still don’t like it here and still see more down side as the same gaps we have been watching on this chart for the past few months still have not all been filled. The RSI is at 36 but compared to the DJIA that is not yet oversold… I still see more selling here.
Today’s MPT (Market Power Trend) Rating, which tells us what “Smart Money” is doing in the market today and what to expect with the overall market tomorrow, came in at (04) and this is our flat reading, but after a major sell off of near 400 points today, I would not be surprised to see those late traders selling stocks lower tomorrow. Capitulation does not make sense, but it moves stocks when you have posts with these choice words floating around in the market:
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As always I recommend investors and traders, be smart, patient, and ever successful. If you own quality stocks at these levels, hold them and average down as the market shows the next bottom signal.
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25. June 2008 by admin.
Wednesday,
The market behaved as one would expect with the
The DJIA; gained 4 points for the day but clearly shows itself to be substantially oversold now trading back at its march lows… today’s MPT Rating of (05) clearly shows “Smart Money” is buying this market pullback and we are recommending the same.
The NASDAQ; gained 32 points for the day and though we must admit the market is oversold enough to support a bounce, we are less than pleased with the unfilled gaps below the current price clearly marked on the annotated market chart we’ve provided. All in all I would caution all investors and traders to be selective in this pullback as I see further down side in some stocks still to come, but there is great upside potential in several at the same time.
Today’s MPT (Market Power Trend) Rating, which tells us what “Smart Money” is doing in the market today and what to expect with the overall market tomorrow, came in at (05) and this tells us that “Smart Money” is buying at these oversold prices… We recommend our members load up on our top picks ASAP.
As always I recommend investors and traders, be smart, patient, and ever successful.
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24. June 2008 by admin.
Tuesday,
The markets did a lot of dancing today but finished in line with a hold ahead of the upcoming
The DJIA; lost 34 points for the day ahead of the FOMC policy meeting tomorrow; the
The NASDAQ; fell 17 points today and filled one of the three gaps we have been waiting to get filled… today’s support was a bounce after that fill and thus the market could stage a rally here, but the NASDAQ still has further downside to fill two other gaps and that would have me cautious if nothing else. The RSI indicator for the NASDAQ is now at 39.39, but compared to the DJIA it is far from oversold here.
Today’s MPT (Market Power Trend) Rating, which tells us what “Smart Money” is doing in the market today and what to expect with the overall market tomorrow, came in at (02) and this is our weakest bear indicator… In a perfect world we would see a little selling pre-market or early tomorrow followed by a bounce off of support and a follow-up MPT Rating of (01) or (00) as this would tell us we are at the bottom… for now, it’s just a weak bear reading and we’ll need to wait for the
As always I recommend investors and traders, be smart, patient, and ever successful.
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