Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Point & Go Figure: MER, EBAY


Where exactly am I going?


Market Overview:

The short-term conditions remain at high-risk levels. The Percent Above 50-day Moving Average Indicator for the NYSE is negative. The Nasdaq Composite Percent Above 50-day Moving Average Indicator is in Xs, but the pattern of lower lows and lower highs persists.

The High-Low Indices for the NYSE and Nasdaq Composite are positive (in columns of Xs), but there again the negative divergence - lower highs - persists.

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

Charts of Interest:
Merrill Lynch (MER)
(Chart courtesy
The PnF chart of MER is positive, in Xs and on a buy signal, but the stock is nearing the long-term price objective of 83 and as the DeMark indicators shown below indicate, there is a high probability of an important trend exhaustion occurring here.

Merrill Lynch (MER)
(Chart courtesy
Thomson Financial)
The three charts below, daily, weekly, monthly, show DeMark TD-Sequential and/or TD-Combo sell signals (daily and monthly) and a sell setup on the weekly chart. This suggests a high probability that MER is forming a significant top here.



Ebay (EBAY)
(Chart courtesy
Interesting, EBAY has formed triple bottom support at 37 on a PnF basis...

Ebay (EBAY)
(Chart courtesy Thomson Financial)
Meanwhile, a daily chart shows DeMark TD-Combo 13 buy signal.

< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos