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Point & Go Figure: LLL, TXN, NDX, TRAN

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Still a little something left!

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Market Overview:

The short-term conditions remain at high-risk levels. The Percent Above 50-day Moving Average Indicators for the NYSE and Nasdaq Composite are both in Xs, but the pattern of lower lows and lower highs that has been intact from the first of the year remain intact.

The High-Low Index for the Nasdaq Composite and the NYSE are both negative. Moreover, the Nasdaq Composite High-Low has exceeded a previous bottom.

Meanwhile, the longer-term bullish percent Indices for the NYSE and Nasdaq Composite are both still in Xs, but the larger pattern of lower highs remains intact. The more narrow S&P 500 (SPX) and Nasdaq-100 Bullish Percents are negative.

Charts of Interest:
L 3 Communications (LLL)
(Chart courtesy
StockCharts.com)
The PnF chart for LLL looks fine; in a column of Xs and broke through the series of descending columns recently...

L 3 Communications (LLL)
(Chart courtesy Thomson Financial)
But while LLL is OK by PnF, DeMark TD-Sequential 13 sell suggests it may be time to pause for a bit...

Texas Instruments (TXN)
(Chart courtesy
StockCharts.com)
TXN recently reversed up in a column of Xs to form a higher low at 29; potential triple top resistance at 34 would be broken by a move to 35; price target is 38...

Texas Instruments (TXN)
(Chart courtesy Thomson Financial)
Meanwhile, a DeMark TD-Sequential 13 buy signal has registered with the most recent move lower...

Nasdaq-100 (NDX)
(Chart courtesy StockCharts.com)

Dow Jones Transports (TRAN)
(Chart courtesy
StockCharts.com)
Dow Transports continue to chug along on the chart, and most recently broke a double top at 4550...

Dow Jones Transports (TRAN)
(Chart courtesy Thomson Financial)
Meanwhile, a TD-Sequential 13 sell has registered on the daily chart.

No positions in stocks mentioned.

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