ChartWatchers

May 2005

ChartWatchers

NASDAQ OVERBOUGHT, BUT NOT BEARISH

by Chip Anderson

The current rally is the strongest of the year and is unlikely to disappear over night. This strength is confirmed by price movement as well as two momentum indicators. First, the 15-day Rate-of-Change surged to levels not seen since early September and mid November... Read More 

ChartWatchers

INITIATION CLIMAX?

by Chip Anderson

One of Decision Point's proprietary indicators is the Participation Index (PI). It measures extreme (climactic) activity within a short-term price envelope... Read More 

ChartWatchers

RECENT DECLINE IN XOI CORRECTIVE

by Chip Anderson

Quite simply, the recent decline in the AMEX Oil Index (XOI) appears corrective in nature; and thus one would want to be long these shares at this time as the risk-reward parameters are now favorable... Read More 

ChartWatchers

NASDAQ LEADS MARKET HIGHER...

by Chip Anderson

In my view, the most significant improvement has taken place in the technology-dominated Nasdaq market. The Nasdaq Composite Index broke through its 200-day average on Tuesday and has broken its 2005 down trendline... Read More 

ChartWatchers

Hello Fellow ChartWatchers!

by Chip Anderson

It took a couple of big days to get the Dow back above the 10,400 level but last week's reaction rally has managed to do the trick and allowed the Dow to finish at 10,471... Read More 

ChartWatchers

THE LEADERS AND THE LAGGARDS

by Chip Anderson

The S&P 500 can do it, but the Nasdaq and the Small-caps can't do it. Or at least not just yet. Led by Finance, the S&P 500 broke above its late April high and resistance at 1165. However, the Nasdaq and S&P SmallCap Index stalled at corresponding resistance levels... Read More 

ChartWatchers

VOLATILITY STILL HISTORICALLY LOW

by Chip Anderson

The CBOE Volatility Index (VIX) is a measure of the implied volatility of SPX index options. (According to the CBOE web site, "volatility is a measure of the fluctuation in the market price of the underlying security... Read More 

ChartWatchers

A SIMPLE ROADMAP

by Chip Anderson

From a structural and fundamental point-of-view, things are bearish right now; however, the technical and sentiment action surrounding recent price gains is quite constructive; thus a larger rally appears underway... Read More 

ChartWatchers

A LOOK AT THE NYSE COMPOSITE INDEX ...

by Chip Anderson

Every time I write about a certain stock market index, I'm asked why I don't write about some of the others. I generally try to spread my coverage around to all the major stock indexes, but can't cover them all at once... Read More 

ChartWatchers

Hello Fellow ChartWatchers!

by Chip Anderson

After its big drop in mid-April, the Dow has rallied back to a classic resistance level now: 10400... Read More