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Title: Market WrapUp (07-26-05)
Source:
Financial Sense Online
URL Source: http://www.financialsense.com/Market/wrapup.htm
Published: Jul 26, 2005
Author: Ike Iossif
Post Date: 2005-07-26 19:54:01 by Arete
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Keywords: (07-26-05), Market, WrapUp
Views: 420
Comments: 36
Home l Broadcast l Market Monitor l Top 10 l Storm Watch l Sitemap l About Us Today's WrapUp by Ike Iossif 07.26.2005 Mon Tue Wed Thu Fri Archive SUMMARY Last week I said, "The McClellan Oscillators are at the zero line, the Volatility ratios are at new highs, the Quantifiers have turned down, and the rest of the indicators have diverged negatively; therefore, the odds are better than even that over the next 2-5 trading days we will get a pullback, but given the magnitude of the initial thrust of the move we also ought to expect support to hold." (Current) We have half of the indicators implying that a pullback is to be expected next week, while the other half are implying that further price strength ought to be expected. When you put it all together it means that we ought to expect a choppy and difficult market to trade going forward. This type of market condition precedes market tops of significance, but we do not believe that such top is completed; it has a bit more to go. Nevertheless, we do believe that we ought to expect a pullback sometime this week, and depending upon how deep the pullback turns out to be, we will draw further conclusions with regard to how far we are into the topping process. SUPPORT AND RESISTANCE LEVELS TO WATCH FOR Ike Iossif Copyright © 2005 All rights reserved. Ike Iossif Home l Broadcast l Market Monitor l Storm Watch l Sitemap l About Us l Contact Us Copyright © James J. Puplava Financial Sense™ is a Registered Trademark 
WEEKLY CHARTS 
Above 10750 it goes to 10900; if it stalls again at 10750, it will re-test the 10500 level.
It is at resistance in the 3700-3725 zone, and we would expect a pullback from this zone.
SP500: It made it up to resistance at 1240. We would expect a
pullback from this level starting in the middle of the week.
NASDAQ: It almost made it to resistance at 2210. We would expect
a pullback from this level, starting in the middle of the week.
HUI: It has resistance at 205, support at 190. Above 205 it goes to 225, and below 190 it goes to 178.
Oil: If it can stay above $55, it will rally to $62.50 and then 67.5. If it closes below $55, it will go to $50.00.
The T.O. is trying to turn up. If it does, we ought to expect higher prices.
The T.O. is trying to turn up. If it does, we ought to expect higher prices.
The trend is UP for NASDAQ.
The trend is UP for the SP. DJIA SP500 NASDAQ 2nd Upside Target 11150 1275 2300 1st Upside Target 10900 1255 2250 Resistance 10750 1240 2210 Support 10450 1220 2140 1st Downside Target 10250 1188 2100 2nd Downside Target 9950 1165 2040
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Begin Trace Mode for Comment # 36.
#15. To: Arete, All (#0)
You Borrowed it Twice (You Only Live Twice) You borrowed it twice or so it seems, And debt is a stranger that'll beckon you on, But this dream is for you, so don't think of the price. And debt is a stranger that'll beckon you on, But this dream is for you, so don't think of the price. (Those are all real links. If you click on nothing else at least check out the last "danger" link. It claims it is a parody! We'll see, lol.)
Sure to join other classics like:
I have to run with that one if you don't mind, lol. For euros only, you can buy me in the night. You'll buy what no-one else can buy because the price is high. For euros only, the nights are never cold. You'll buy what no-one else can buy because the price is high. (Although I suspect before this is over the Euro is in as much trouble as the dollar. My reference to silver mines is based on the historical willingness to mine at a loss, silver mines need cheap energy clearly to maximize profits, and that many silver mining stocks have run up quite a bit in the last few years. You have to be a big believer in silver's near-term fundamentals to feel comfortable there. I'm bullish on silver itself though for the long-term. I think perhaps it is the better place to be in the risk/reward equation. Just an opinion though obviously.)
You've got me smilin' wide ... the line above reminds me ... oh nevermind ... ;-}
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The best luxury car and the house of your dreams.
You sift through the loans and the terms seem tame,
Till interest rates rise and so ends the game.
Don't think of the danger because it's a time bomb.
Debt made one dream come true, and you borrowed it twice.
Don't think of the danger because it's a time bomb
Debt made one dream come true, and you borrowed it twice.
#18. To: markm0722 (#15)
You Borrowed it Twice
Oil From Russia For Euros
Goldfinger and Silvertoe
Dollars Aren't Forever
The Man with the Gold(en Gun)
The Spy Who Loaned Me Money
For Euros Only
...
#35. To: purpleman, All (#18)
For Euros Only
For euros only you'll never need to lie.
You can buy so much of me, so much of me that's true.
I'm just oil pumped out as bubbling crude.
For euros only, only for euros.
For euros only, only for euros.
The energy you need in me, the heat that you've freed in me.
Only euros, only for euros.
You really know me, that's one reason I am sold.
Maybe I'm an open book unlike most silver mines.
And you won't need to read between the lines.
For euros only, only for euros.
For euros only, only for euros.
The wars that are over me, with wild abandon are fought for me.
Only euros, for euros only.
#36. To: markm0722 (#35)
... the heat that you've freed in me.
Replies to Comment # 36.