Henry Ford's MarketWatch LIVE!

4:38 PM
PATTERN STUDIES
Friday I will be starting a little "fill-in" series which I will try to continue every day during the market doldrums period of 12PM -2PM EST. Don't want to insult any old timers here, but will present classic patterns with their percentages of success and failure so we can better identify ideal times for market commitment.

For those interested I will be going into the whys and wherefores of Fibonacci support, resistance retracements and time studies.

The markets are driven by investor psychology which is why both technical and fundamental analysis work. It doesn't really matter which is cause and effect as long as we can identify those periods where classic supply and demand are in force....Any specific requests, let me know via the feedback link at the top of the page.
:: Henry Ford ::

4:37 PM
TRIAL ENDING
This Marketwatch Roundtable will be going to a closed subscription only site after this weekend. We have a limited number of seats left for those of you who haven't subscribed yet, so call in now to reserve your spot at 1-800-491-9951. In addition to this intraday market watch page you will have unlimited access to ALL PITBULL SERVICES including Stocktables.com site.

Total value of all of these services is over $1800 for the year, but through this offer you can get them for only a fraction of the price. If you are already a subscriber to ANY of our services we will credit you with any remaining time against the cost of this subscription. Some Pitbulls actually got MONEY BACK! For more info click on the button at the top of the page.
Additionally, we are attempting to put our new password system on line this weekend(UPDATE!!! Will be the week of 22 July) for all of our Pitbull services as well. We have been searching for 5 years for a system which would handle our unique needs and finally had to do it ourselves. You will need to fill out a one time registration where you will pick your own user name and password that will be good for all services and will never expire. We will handle the rest and transition you over to the new system. Built in to the new program are automatic email notifications before your services expire so you won't have any downtime and you will have the ability to change your user information at will.
:: Henry Ford ::

3:44 PM
FIBONACCI UPDATEI have redrawn the Fibonnacci support and resistance lines using the high of 7/17 and the low of 7/15. In this view prices bounced off of the 32% retracement level.. If the DOW fails to hold the low of 7/15 it will go down to 8235.

:: Henry Ford ::

3:18 PM
UPDATEAfter breaking through local support, DOW and SP Futures testing support levels of the last few days....No pattern here now till we establish new support and resistance levels
So far double bottms are holding, but most volatile period could be last 20 minutes.Surprisingly, the NASDAQ is holding its lower rising trendline of the last week
:: Henry Ford ::

2:23 PM
UPDATETHEY ARE GOING TO KICK IT DOWN GOING INTO 2:30PM...
Lotsa program trades hitting here..setting up for tomorrow morning...could rebound after 3PM. Cyclicals are holding up a bit better than techs, but not by much. Chemicals, autos, oil services are showing strength. Healthcare stocks continue to hold onto their strong early gains.
:: Henry Ford ::

2:10 PM
UPDATEVolume has lightened somewhat as there is little news to move the market. Retailers are very strong across the board, but more so with specialty retailers than the mass merchants. Wireless stocks are being spurred by Sprint PCS (PCS 5.67 +0.67) guiding higher. VOD +5%, NXTL +4%, AWE +3%... Oil services are also showing good relative strength... Treasuries continue to climb as stocks falter. NYSE Adv/Dec 1378/1761... Nasdaq Adv/Dec 1178/1955.

:: Henry Ford ::

2:08 PM
UPDATENo change...as we go into return from lunch both DOW and SP are at low end of trading ranges, but still within established channels
:: Henry Ford ::

12:52 PM
UPDATEUpward biased consolidation trends intact...8600 is moving target for DOW ...need to get the SP to move off the dime...prolly not much to do here till traders get back from lunch 2-2:30 PM. SP going back to test 898 area once again in this long sideways consolidation....
:: Henry Ford ::

11:46 AM
DOW LEADERS

:: Henry Ford ::

11:34 AM
UPDATE
We are still in sideways range channel on SP while DOW has broken out of Triangle, but we need SP to confirm.

[BRIEFING.COM] It has been a directionless market thus far as the Dow and Nasdaq remain near unchanged. However, the Dow is making a move here to a new session high... Software stocks continue to slide on SEBL's warning... It's not just tech as weak results from Philip Morris (MO 42.88 -1.24) and Kraft Foods (KFT 35.71 -2.23) are weighing on tobacco and food stocks. However, consumer products are not following their lead. Procter & Gamble (PG 81.77 +1.70) is higher, after being weak in recent sessions... It a populous new 52-week low list, including AOL Time Warner (AOL 12.36 -0.75), Computer Assoc (CA 12.46 -0.59), Delta Airlines (DAL 16.26 -0.19), Eli Lilly (LLY 48.95 -1.95), Siebel Systems (SEBL 9.78 -1.96), UAL Corp. (UAL 7.45 -0.50), Wyeth (WYE 30.54 -0.36). NYSE Adv/Dec 1543/1379... Nasdaq Adv/Dec 1284/1563.

:: Henry Ford ::

10:43 AM
UPDATEAmong Dow stocks, IBM +2.1%, PG +2.0%, HON +2.0% are strong while MO -2.8%, KO -2.3% are weak... The Nasdaq remains underwater as semis (SOX) and especially biotechs (BTK) weigh on the index... Bank stocks are holding up despite PNC Bank (PNC 40.20 -6.40) selling off. The SEC ordered PNC to stop violating federal securities laws... Airlines continue to slump to new lows. SOX -1.5%... BTK -3.6%... NYSE Adv/Dec 1428/1323... Nasdaq Adv/Dec 1203/1455.

:: Henry Ford ::

10:39 AM
CONSOLIDATIONHere's a better view of internal action as represented by the DOW 5 minute chart. We have established a trading range channel and have been oscillating between ranges all morning, continuing the trend from yesterday

:: Henry Ford ::

10:33 AM
TREADING WATERWe are into the zone where a reversal can take place...so far markets continuing sideways consolidation.

:: Henry Ford ::

10:04 AM
LEADING INDICATORSCame in flat...no boost to market
:: Henry Ford ::

9:48 AM
REPORT DUE OUT AT 10AMLeading Indicators for June will be the next "event" this morning.
:: Henry Ford ::

9:09 AM
GOOD MORNING
Overseas markets all up. Nikkei+202, FTSI +79, DAX +9, CAX +88.
Equity futures have edged higher since the release of the better than expected Jobless Claims data.
NAZ weakest on several weak earnings reports at -5.5. DOW furures +35 SP +3.50
:: Henry Ford ::

Disclaimer