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Technical Analysis: One Small Ray of Hope
Published by: rose 2009-01-08

FUJIMO's Comments on SeekingAlpha.com::
The benchmark indexes rallied more than 1% with the hope that Paulson wanted to have an Possibly a ray of hope today on the lending. Jul 15 01:18 PM
http://seekingalpha.com/user/180672/comments
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The best hope for bulls here are a couple of signs that sellers may be running out of steam.

The NYSE advance-decline line (see first chart below) remains above its November and August lows, and the number of new lows on the NYSE plunged from 750 Wednesday to 216 yesterday — and didn't expand today despite another big down day. If they can continue to dry up — say, under 100 — before new highs expand considerably, we could see a bottom begin to form.

The Duke Ellington Music Society::
It opens with Take the "A" Train with Ray Nance playing his classic solo. Volume 1 'Original soundtrack from Goodyear Jazz Concert Motion Picture
http://www.depanorama.net/dems/02dems1a.htm
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1 SRI-CAT BEAMLINES, TECHNICAL DEVELOPMENTS, AND SCIENTIFIC ::
File Format: PDF/Adobe Acrobat - View as HTMLtrace element analysis in marine protists by tions, we hope to open a new experimental 1.2.1 Fresnel Propagation X-ray. Phase-Contrast Imaging
http://www.aps.anl.gov/Science/Publications/techbulletins/tb47/tb47-1-1.pdf
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And despite the doom and gloom, note the performance of the banks (second chart) today.

Chowk: : A Ray of Hope::
tools, but even trained professionals in various technical aspects are not government hospitals where the ratio of nurses to patients is 1:20,
http://www.chowk.com/articles/4398
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24/7 Wall St.: Will The E.U. Save Dendreon If The U.S. Won't? (DNDN)::
Insightful Analysis and Commentary for U.S. and Global Equity Investors . this might be one more ray of hope for the company, its shareholders,
http://www.247wallst.com/2008/01/will-the-eu-sav.html
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We'd also note that S&P commercial futures traders added to long positions this week, but they still remain net short.

All in all, a few glimmers of hope, but they all need to develop further if the market is going to form a bottom here.

The major indexes (charts three, four and five) continue to hold their August lows, if not by much.

SudanTribune : Opinions::
Aug 9, 2008 This is a ray of hope in a long, dark night of despair: More than 2 million .. Ethiopian Soaring Inflation Rate: A Non-Technical Analysis
http://www.sudantribune.com/spip.php?rubrique2&debut_comments_un=1940
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We continue to key on 1360-1370 on the S&P as critical support for the bulls here, while a move above 1430-1435 and 1442 would be a good start to the upside.

Paul Shread is a Chartered Market Technician (CMT) and member of the Market Technicians Association.




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