July 2007, Volume 4 Issue 3 Know It - Profit!
"Cyclical Index Charts
Series Of Profits!"
In this issue, Johnson Controls Inc. leads the AMEX Morgan Stanley Cyclical Index to new highs.
Also, will oil prices get capped? Or, will they continue to gush profits for the oil service sector?
Find out in this edition of Chart Wealth!
All the major indices continue to climb higher.
The Nasdaq Composite (^IXIC) is up 7.43% for the year. Will it go higher?...
View Current Chart of Nasdaq Composite
With its resent break through June resistance,
the Nasdaq seems poised to continue higher... but, how much higher?
The P&L Dots have jumped above the line of departure, revealing the power of the break-out.
And, the CCI and the MA Oscillator confirm the continued strength of the trend.
However, the Elliott short-term fifth wave and the intermediate third wave are approaching a coincidental termination point.
Click over to Market Metrics and view all the broad market indices, side-by-side...Click Here For Broad Market Analysis
The PHLX Oil Service Sector Index (^OSX) is still drilling ahead.
Can a top be near?
View Current Chart of Oil Service Sector
The weekly chart of the Oil Service Sector
shows some technical weakening.
First, the P&L Dots have dropped below the line of departure, showing a general slowing of momentum.
Next, the CCI has been diverging from price for the past 10 weeks.
Finally, the MA Oscillator has become over-extended... beginning to turn down towards its volatility bands.
What other sectors are weakening? Take a look in Market Metrics...Click Here For More Stock Sectors
Johnson Controls Inc. (JCI) is a component stock of the AMEX Morgan Stanley Cyclical Index.
Headquartered in Milwaukee, Wisconsin, JCI is an automotive interior experience, building efficiency and power solutions company.
Will JCI continue to make new highs?...
View Current Chart of JCI
The daily chart of JCI
reveals a steadily advancing stock... methodically moving through each Elliott wave.
The CCI shows the upward trend will continue to be supported.
The volatility bands of the MA Oscillator have begun to fan-out, again... maintaining the momentum of the advancing trend.
Where Are They, Now?...
The following table represents hypothetical trades based on previous stock analyses...
Go Here For Charts In Action
Want to see more trading results?...
Summer in the US means family vacations and time away from home and the markets.
If you're going away on holiday, enjoy a well deserved break.
Use the down-time to re-evaluate your trading plans and to develop new investing strategies.
Then, come back to the markets... ready to trade!
Until next time...
Russ Schmidt, President
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It should not be assumed the technical indicators, analysis techniques or trading methods presented in this newsletter will be profitable or that trading decisions based on their use will not result in losses. Past results are not necessarily indicative of future results. Examples presented in this newsletter are for educational purposes only. Any trade set-up illustrated is not a solicitation to buy or sell a security. The author, publisher and any affiliate linked to this newsletter assume no responsibility for your trading results. Remember... there is a high degree of risk in trading.
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CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
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