Friday’s action put a damper on the week’s action. How did the Stockcharters see it?

A welcome boost for Maurice Walker as his list ranks top amongst the market commentators. He saw multiple sell triggers on Friday’s action:

We got a wonderful sell signal on May 20, as the DJIA broke its intermediate trendline which was confirmed that very day with a bearish direction indicator (DI) cross on the ADX indicator and bearish confirmation on the MACD. The following day on May 21 the S&P 500 broke down and it got a bearish DI cross. Moreover, on May 26 the Aroon gave a sell signal on the DJIA. The S&P’s 500 sell signal came on June 2, as the first right shoulder formed on the S&P 500 near 1400. We also got excellent candlestick reversals at the 200-day SMA , as shooting star reversals appeared on both the DJIA and …

Agrium (AGU) the smallest of the 3 major potash producers in Canpotex is out this morning with increased guidance - expect the same from Mosaic (MOS) and Potash (POT). This is leading the sector higher with AGU up 9% in early trading - keep in mind unlike the other 2 names mentioned, Agrium has a large retail component. Essentially they've taken their own lowball guidance up by around 80 cents, and now are firmly over the analysts $2.50. Looks like analysts are *still* behind the curve even after making huge upward revisions the past 60-90 days, once they saw the writing on the wall - writing we were urging them to see last fall [Oct 23: Analysts Still Doubting the Fertilizer Stocks] I wroteFolks, I am not a full time fertilizer analyst working for a major brokerage (in fact the ...

Greater reference has been made in recent times to the association between blog readership and market reversals, not just from Barry's TheBigPicture from this past February and March, but also in the spikes in volume for TraderMike, Traderfeed, and my personal blog. So for this paper napkin research I did some analysis of my personal blog web traffic. I converted my visitors number using the same calculation as used for on-balance-volume; termed on-balance-visits. When the S&P closed higher I added my blog readership to a cumulative total, when it closed lower I subtracted it. Overall, I experienced strong readership growth; moving from around 400 visits a day in October 2007 to the 700 currently:By using an on-balance-visit calculation I can sidestep some of the concerns which may effect other metric calculations ...

The point of showing my order book yesterday was to emphasize how my number one focus is always risk management. At the time I entered many of the stocks, I expected them to continue to trend for most of the day. Even with expectations for continued movement higher, I sold partial positions into strength early on. I tend to go in aggressively as momentum builds and then scale out into continued strength. It is never my thought that I am selling at the top, instead, I am trying to reduce risk by realizing some profits and reducing my exposure. There are many times that a stock will continue to go higher without me and I am comfortable with that because, as we saw yesterday, the market can reverse quickly and erase all profits if you do not aggressively manage open positions. Some people say ...