Pick a Stock Chart any Stock Chart

Hello Stockhoppers, Well it has been a while since I have touched base. Life has been busy but I have continued to follow this failing market. Oddly enough my last blog was somewhere around June 8th and i could use that same blog to describe things today, although because of the length of this downturn it makes it......well to keep it simple SCARY! this is if you are not short, if you are short this market kudos to you. I am not even going to post any charts today because most of them tell the exact same story and that is the bottom hopefully is coming soon but not many technical indicators are telling us this.

WHAT TO LOOK FOR NOW? I am waiting for the correction. Keep an eye on your exponential moving averages. We are see many double bottoms, will they break support? we will find out here soon. But yes there will be a correction, so my advice would be to keep that money on the sideline for now and wait to get FIRM CONFIRMATION on the correction and get on board. Currently I own just a few hundred shares of Tellab, I am currently in the red with this one but it is showing some promise of correcting.

I hope your trades are heading in the right direction and until next time happy stock charting!!

Todays Stock Market Update-Ford Showing Weakness

Good Morning Stockhoppers, The major indexes are looking pretty good today. It looks like the Dow will bounce off the 13 day ema. 11000 is definetly in sight now. Take a look at the Dow chart. It went down to the 21day ema yesterday to move bounce back above the 13day ema, this morning it went to the 13 day ema and looks to be ready to move upward.

As you all know I follow Ford stock very closely. I have made many dollars following the ups and downs of Ford(mostly ups here lately)but I would be very cautious of purchasing this stock and if I currently owned it, I would be watching very closely as I feel it could retreat here within the next few trading sessions. The Reason, simple, the 13 day ema has just crossed downward across the 21 day ema.
Another reason is that during the recent market up days Ford has not been rebounding as it should. Use today for example. Market is up around 35pts, Ford is barely hanging on to gains, around .04. That shows weakness. I will stick with my recent prediction that Ford stock will see 12.25 with the next stop being around 12.00.

Hope all your trades are profitable and until next time....Happy Stock Charting!!