I don't look at the entire sector  to trade very often but here is a quick view of those.  I don't like MOT chart right now.  VZ had a nice jump on good volume today Looks possible. Palm I don't like looks bad but it could stop at the 200 day moving average just below.  AAPL king of the hill but looks toppy here.  RIMM looks bad- don't catch a falling knife.  Overall I guess I would say hang on a while and check back.  Other opinions may vary.

Nice work Alpha.  I really like the way you use Renko charts to help localize the counts.  I'm starting to try to learn it.  Thanks.

Hi Brophy,

You should point out to everybody that this is still an alternative count for the S&P.  Even though I think it might be the true count also, the still standing count where we are still in a wave 4 correction waiting for 5 down has not been totally eliminated.   We don't want to lead anybody astray.    It's also interesting to note that counts for the NASDAQ and Russell  have been in wave 3 up, (not 4- waiting for 5 down- for a while now). 

Nice work, RP.  It's seems amazing to me that so many thing appear to be at or near the make or break point.

Here are a couple of charts that concern me when we start looking for a certain large downside move.  The daily stochastic chart certainly appears to show our current short term downside move.

The weekly SPX just refuses to drop in the face of the declining NYSI and appears nearer to a bigger upmove cycle than it does downside.  Over the last couple of periods it has been evident to me that the SPX price trend has been resistant to the NYSI moving down.   I wonder if the SPX will soon move much easier to the upside.

In addition the BPNYA PNF action appears more 3 box corrective than trending, at least at this juncture.  So are we soon more likely to melt up than melt down?  It's something to think about as we prepare for C or P3.

As always there are other charts to consider, but it's something to think about.

Nice.  I've been waiting for the compq to get there not even thinking about the NDX.  Now, will it hold?

The line chart uses close only prices which changes the line a bit.  I prefer candles because the tails still show prices that were attained during that day and could provide support/resistance that you might not otherwise factor in.  However other people only use closing prices even on candles.   Many people hold that the closing price is the only important one.  I don't hold that view. Your choice but consistency is important.  Other opinions may vary.

I like the channel because the downtrend is significant,  but I still prefer the wedge from early October - at least until the positive divergence trend is negated on the MACD.  No divergence- I'm with the channel.  Hope it wasn't a rhetorical question, lol.

Certain Chinese stocks look poised to retest their highs before the '08 collapse.   BIDU and CTRP are examples that fit the bill.  Since they are near resistance it may not be the best place to buy but if they break through then there is a lot of possible upside.

Look at the movement on up and down swings in the secular bear '65-'81.

http://www.crestmontresearch.com/pdfs/Stock%20Secular%20Bear%20Example.pdf

This site has a lot of great info by the way.  This is just one of their charts.

I'll apologize in advance, BUT..... take it somewhere else.  I really don't care to hear anyone bashing my country.  You are entitled to think what you want.  But I don't want to hear it and I sure don't like it.

A simple interpretation is that the Aroon is showing us the downtrend from 1080 to now.  Now the important thing will be does the down part of the aroon stay up at high levels or does it cross back down as an uptrend begins.  Also, keep in mind a standard aroon setting is around 25 so this one is slowed down quite a lot and will therefore lag the price action.

GET is a software trading program from e-signal. So it's a software generated count.

I see UUP as a possible sloppy H&S or a possible triple bottom and/or breakdown.  Always so much drama just to make a move.  

Sort of like this - but properly coded. I'm working on it, lol

To do it in stockcharts format.  Call it something like McClellan Oscil or something.  Highlight it by clicking and dragging over what you called it.  You'll notice the chain link icon becomes useful.  Click on it.  Copy the stockcharts link into the URL window.  Click on insert.  The highlighted copy is now blue as it is a hyperlink to your chart.

Welcome.  You have indeed made it to the site you are seeking.  Matt and Steve are terrific technicians and you will learn more than you can imagine.  Now, the bad news.  There's no quick fix to learn it.  It takes time and dedication.  The more you learn the more you realize you have to learn.  Start reading everything you can get your hands on.  There's lot's of free info on the web and a lot of good books.  As far as the posts, just get what you can out of them for now.  Follow along with the updates everyday and you will learn the most important stuff without even realizing it.  Again, welcome.

john

I'm not sure everything gets updated at this time of day.  For now I did get a psar cross on this chart.

There are tons of good books out there and you will learn from all of them.  There is also tons of free stuff on the web simply by searching "learning technical analysis".  But, do you want to know one of the best ways to learn the important aspects of technical analysis?  Just follow along with Matt and Steve everyday.  You'll learn by repetition while you are getting the basics wherever else you do.   Warning: I've been learning over 15 years now and there is always something new to discover.

I would suggest learning basic candlesticks, basic chart patterns, support & resistance, and important indicators as your initial focus.

I Like Bulkowski's books.  They are listed on his site.  http://thepatternsite.com/Blog.html 

Thanks Steve.  Nicely laid  out scenarios.