We are not the biggest fan of technical analysis, but on the flip side all information should be taken in and evaluated. I have run across this pattern from time to time with individual stocks. We have laid out the definition below. We are wondering if the large spike in oil could fit this category.

Blow - Off Top refers to an extremely fast spike up in a stock’s price, followed by an extremely fast and severe drop in price. A blow-off top may be found on an intra-day chart, a daily chart, or even a weekly or monthly chart in some cases. A blow-off top may be found on individual stock charts or on the charts of indices. A blow-off top is generally seen by chartists and technical analysts as an indicator of future market actions, although different technical analysts may view the significance

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Current top-5 most active stocks on the London Stock Exchange for 10:50am GMT:BTG PLC (BGC): +17.25 +14.02% 140.25p Vol 1.23M Sideways consolidation in play since late-April is no more. Stock follows through on heavy volume. RPC Group PLC (RPC): +18.25 +9.86% 203.25p Vol: 189,644 Has been caught in a trading range with a 200.00p lid since April. Brief forays to 220.00p before failed to ignite this - will this time be different? Synergy Health (SYR): +52.00 +7.27% 767.00p Vol: 230,828 Big jump as it works on a challenge of 6-month highs around 800.00p; subsequent resistance can be found at 850.00p and 900.00p, but beyond is plenty of clean air. ROC Oil (ROC): +7.50 +7.25% 111.00p Vol: 23,206 Much work to do to break its recent deline from 130.00p. Layers of additional resitance up to 180.00pPetra Diamonds (PDL): +7.00 ...

Jos. A. Bank Clothiers, Inc (JOSB) had a fun Wednesday as it followed through on an earlier 200-day MA break with heavier volume on the release of earnings. It also had some good technical support with a new reaction high in the MACD, although on-balance-volume didn't confirm with a new high of its own. It has however seen a steady increase in bull trend strength with an ADX knocking around 32.78 and rising. Stops can be placed along rising support connecting April-June reaction lows or the 20-day MA. The Point-n-figure chart is riding a May 28th double top breakout with a target of $43.00. Options players might like some January 09 $17.50 strike at $13.80 from the Ask which is just an $0.80 premium on the June expiration calls at the same strike. ...

Before each of my market posts there is a buy/sell call (at owner's risk!). At the start of the month I usually try to call the flavour for the coming month based on overall market conditions; which I have marked on the chart below. What is clear is having waited so long for the market to roll over (basically spent most of 2007 waiting), I jumped too early on the bullish bandwagon this year. The past 3-months have been good for bulls. Like in late 2006 there is a reasonable chance June will be another upward month. However, it is unusual to get sequence runs beyond 4 months. Look at the early 2006 decline, late 2006 advance, early 2007 advance and the late 2007/early 08 decline; all lasted around 4 months. What we are likely to see after June is a period of sideways ...

Current top-5 most active stocks on the London Stock Exchange for 9:15 am GMT:BAY (BR AIRWAYS ORD) +12.75 +6.16% 228.25p Vol: 8.5MStill a long way to go if this is to break its 7-month decline. 250.00p key resistance. ALD (ALBIDON ORD) +12.50 +6.08% 218.00p Vol: 78,719Has enjoyed steady growth from 100.00p. Volume strong, set up for another good day?KENZ (KENTZ ORD) +9.50 +5.32% 188.00p Vol: 54,562Breaking from a 4-week period of tight trading. Since trading around 120.00p in February it hasn't looked back. TLPR (TULLETT PREBON) +22.25 +4.96% 471.00p Vol: 376,494Bound by a bearish bias sideways pattern. Currently working off support; resistance around 520.00pSL- (STD LIFE ORD) +10.00 +4.12% 252.50p Vol: 1.43MWatch for ...