Tuesday, November 25, 2008

Equivolume Charts -- GE, F, MSFT, INTC, CSCO

these symbols had the highest volume on Monday (11/24/08) of S&P 500 components, excluding financials.

pretty good rebound today. volume was OK, but not particularly impressive. the moving averages and the trend-line indicate substantial supply overhead. if the share price can work itself above those resistance markers then perhaps upside to 21ish is possible. significant supply should be on offer around 22. notice the huge volume 'oversquare' day of October 2 and the subsequent wall of selling from that price level.

looks like the market's concluded that the shares will continue to trade. and since they can't trade too much lower and continue to trade, guess they'll just have to trade higher. maybe next week the market will conclude something different. here are some resistance levels to keep an eye on: 2.53/3.02/3.68/4.55

one would have expected the resistance at 21 to be pretty massive. this was the first attempt at it. no surprise that it failed. notice Monday's volume lower than Friday's. if the next up-day is lower in volume than Monday one should view that with suspicion.

only up 3.43% today. traders aren't getting too excited with Intel. at this point I'd consider that to be a positive for the future of the share price.

a close above 16.50 and it could get up to 19 pretty easily.

my hunch is that today (Tuesday) could be a down day for most stuff. a lot of stuff gapped up Monday morning, maybe some will get filled.