Jul 6, 2009 - Issue #170



EK Pullback



EK pullback, as expected. Will there be support? If so, where? Holiday's over. Time to get back to work. What was all that buying about?

CNBC might line up a guest analyst for us, if they can find one that knows something worthwhile.

Meanwhile, the Dow, ominously, closed precisely at the low of the day and week as if advertising for buyers and not finding any as the clock ran out. Perhaps, in a hurry to complete the inverted head-and-shoulders? Pre-holiday trading activity seldom reveals much, if anything.

All eyes should now focus on the Senate response to the House passage of the 'Cap and Trade' bill. Such thievery. Such larceny.

Heads Up

W. D. Gann, a keen market observer, although not an astronomer, nevertheless, was fascinated by the apparent coincidence of important market 'pivot points' and astronomical dates. Theories exist for estimating time and price of important market turning points but astronomical occurrences are computed with mathematical certainty.

There is no logical reason why these occurrences should coincide yet, empirically, they have. The 'Full Moon' and 'New Moon', among others, have been cited. Therefore, one might be well advised to be aware of their occurrence. Note: The first 5 business days of 2008 concluded on a 'New Moon' and we all know how that worked out. Coincidence?

7/7 Tuesday - Full Moon.

7/21 Tuesday - New Moon (Visible 2 days).

During the next two weeks, the following Dow components report earnings. Keep a sharp eye out for possible price swings leading up to 'earnings day' (Subject to revision):

7/8 AA, (Transportations) AMR.

7/13 (Transportations) CSX, JBHT.

7/14 INTC, JNJ.

7/15 BA, MCD, (Transportations) LSTR.

7/16 IBM, JPM, (Transportations) GMT, YRCW.

7/17 BAC, GE, (Transportations) ALEX.

Dow score card for the week ending 7/2/09.

DJ-30: 8280.74 -157.65 -1.87%. The Real World (arithmetical) DJ-30: 36.51 -0.71 -1.91%.

UP: 7, Down: 23.

Trends (weekly charts): This is the subjective part.

Rising (Generally Higher Highs/Higher Lows) 4 (+3) 13%:

+*HPQ, +*INTC, +*MMM, +*MRK.

Consolidating (Generally Lower Highs/Higher Lows) 15 (-1) 50%:

BAC, +*CSCO, DD, +*DIS, +*GE, HD, JNJ, JPM, KFT, +*MCD, MSFT, PFE, PG, T, -*VZ.

Declining (Generally Lower Highs/Lower Lows) 11 (-2) 37%:

-*AA, AXP, BA, -*CAT, CVX, IBM, KO, TRV, UTX, -*WMT, XOM.

+/- denotes change of direction.

* denotes change of category.





Comments? Ideas? Feedback? Let me have it, right between the eyes! I'd love to hear from you. Just reply to this zine and tell me what you think!

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