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Point & Go Figure: BBH, KLAC, CSCO

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Market Overview:

The short-term conditions continue to show larger negative patterns and the high risk levels remain intact suggesting caution. The NYSE Percent Above 50-day Moving Average Indicator is negative, having formed another lower high on the chart. This increases the probabilities of a move lower of significant degree for related stocks. The Nasdaq Composite Percent Above 50-day Moving Average Indicator remains in Xs.

The High-Low Indices for the NYSE and NASDAQ both remain in Xs, but are at high-risk levels and the larger bearish patterns remain intact.

The NYSE and Nasdaq Composite and Dow Jones Industrial Average bullish percent Indices are in Xs, while the S&P 500, and the Nasdaq-100 bullish percent indices are in Os and negative.

Charts of Interest:
Biotech HOLDRs Trust (BBH)
(Chart courtesy
StockCharts.com)

Biotech HOLDRs Trust (BBH)
(Chart courtesy Thomson Financial)

KLA-Tencor (KLAC)
(Chart courtesy
StockCharts.com)
KLAC testing triple top resistance at 54.

Cisco Systems (CSCO)
(Chart courtesy StockCharts.com)


Cisco Systems (CSCO)
(Chart courtesy Thomson Financial)
Weekly TD-Sequential 13 "buy" signals suggest CSCO breakout is "for real" on a longer-term basis...

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No positions in stocks mentioned.

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