Feb 22, 2010 - Issue #203

Disney (DIS) 28.71 Critical

Disney (DIS) 28.71 critical pivot point.

Stock is currently attempting to challenge the 32.75 high. Will it succeed? The weekly chart is not encouraging.

CNBC, at last, has quoted one technical analytical authority whose opinion is, "There is little or no evidence of a 'rolling over'." Don't you feel better now?

As long as the 200ma on the DJ-30 weekly chart is definitely rolling over, it's difficult to make a bullish case. MarketClub draws attention to 9678.95 (lowest low of the last 3 months, currently) at which point their monthly 'Trade Triangle' will turn red indicating a sell signal.

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?

2/13 Saturday - New Moon (Watch market action Friday 2/12 & Monday 2/15).

2/28 Sunday - Full Moon ( Watch market action Friday 2/26 & Monday 3/1).

During the next two weeks, the following DJ-30 components report earnings. Keep a sharp eye out for possible price swings leading up to 'earnings day' (Subject to revision):

2/23 HD.

Dow score card for the week ending 2/19/10.

DJ-30: 10402.35 +303.21 +3.00%. The Real World (arithmetical) DJ-30: 45.96 +1.22 +3.19%.

UP: 29, Down: 1.

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

Rising (Generally Higher Highs/Higher Lows) 12 (+11) 40%:

+*BA, +*BAC, +*CAT, +*CSCO, +*DD, +*DIS, HD, +*INTC, +*JNJ, +*KO, +*PG, +*TRV.

Consolidating (Generally Lower Highs/Higher Lows) 18 (-7) 60%:


Declining (Generally Lower Highs/Lower Lows) 0 (-4) 0%:


+/- 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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