My Analysis (Tuesday 30 November, 2004):
Hmmm.... The first day of the week shows signs of a outside reversal. This could mean that the 4th wave still have further to go and we are looking at an elongated sideways pattern to to last for the next week or two. Currently the Dow Jones is still trading within the same support and resistance dead lock, perhaps now, we will see some movement outside these restrictive levels.
Looking at the Elliott Oscillator there are several pattern emerging. The Red line has peak quite high across the indexes and dropped back to the mid 0 level. This is an indication that upward momentum is slowing rapidly. The Blue line is also beginning to turn downward which reinforces the possibility that a swing has, or is about to occur.
If the red line kicks upward again from this point we should see a small drop followed by another rally. For more information on how to read this oscillator please go to Elliottician.
DOW JONES
S&P 500
S&P 100
NASDAQ
For a brief overview of our methods and chart interpretation please go to our educational briefing. If you have any thoughts as to future changes or praise please send us an email via the online form at: http://www.investorflash.com/enquiry.aspx. Feel free to visit InvestorFlash.com for more daily technical analysis.
Hmmm.... The first day of the week shows signs of a outside reversal. This could mean that the 4th wave still have further to go and we are looking at an elongated sideways pattern to to last for the next week or two. Currently the Dow Jones is still trading within the same support and resistance dead lock, perhaps now, we will see some movement outside these restrictive levels.
Looking at the Elliott Oscillator there are several pattern emerging. The Red line has peak quite high across the indexes and dropped back to the mid 0 level. This is an indication that upward momentum is slowing rapidly. The Blue line is also beginning to turn downward which reinforces the possibility that a swing has, or is about to occur.
If the red line kicks upward again from this point we should see a small drop followed by another rally. For more information on how to read this oscillator please go to Elliottician.
![RET_DJIA_Daily.gif](/proxy.php?image=http%3A%2F%2Fwww.investorflash.com%2Freports%2F2004%2Fnov%2FMonitor30%2Fimages%2FRET_DJIA_Daily.gif&hash=983a522fc8fdd70d46a594540dbae6d3)
DOW JONES
![RET_SP500_Daily.gif](/proxy.php?image=http%3A%2F%2Fwww.investorflash.com%2Freports%2F2004%2Fnov%2FMonitor30%2Fimages%2FRET_SP500_Daily.gif&hash=b5ec912bb38a2070df376afd60bcf355)
S&P 500
![RET_SP100_Daily.gif](/proxy.php?image=http%3A%2F%2Fwww.investorflash.com%2Freports%2F2004%2Fnov%2FMonitor30%2Fimages%2FRET_SP100_Daily.gif&hash=a2fb549c852fda2d9a8e2d0f23de671e)
S&P 100
![RET_NASDAQ_Daily.gif](/proxy.php?image=http%3A%2F%2Fwww.investorflash.com%2Freports%2F2004%2Fnov%2FMonitor30%2Fimages%2FRET_NASDAQ_Daily.gif&hash=13bdc4989e5cff553a2f471e4ecfc7c2)
NASDAQ
For a brief overview of our methods and chart interpretation please go to our educational briefing. If you have any thoughts as to future changes or praise please send us an email via the online form at: http://www.investorflash.com/enquiry.aspx. Feel free to visit InvestorFlash.com for more daily technical analysis.