Happy July 4th

1Best Signals 080627

Markets are at cycle turn date 6/27/2008 +/- at major supports, SPX 1275 +/-, Nasdaq 2300 +/-, and DOW 11300 +/- DLT and megaphone formation supports. Qs closed at 45.65, above 45.50 TL support +/-. During the next week before the July 4th long weekend, we will likely see a cycle turn bottom. It is also EOM and Quarter market action shortened week. Good luck

BKX & Citi

~~~ $BKX ~~~ 59.27 which is the project target and 61.8% retracement of the entire price advancement since 1994 low 24.82. This is also prior triple bottom support area. It formed Megaphone RST as noted on posts 9314, 8771.
It will like find supports at 58 +/-.
Ref: iHub board 8800
(posts 9314, 8771, 8583, 6628, 5257)

"C" Citigroup is fundamentally a dog of the financial group in 2008, however, it has stronger outlook in 2009 as C EPS growth for 2009 is 2482%.

GS, WFC, USB, AXP, BK, MET, AFL... are stable and favorable.

Market Signals 080626

Ref 9417 With Goldman pouncing on bearish note and the Fed draining 26 billion, the short side hedge fund had a bloody day, wiping out markets today. Markets closed lower supports shown on daily charts, SPX 1280 and DOW 11500. We are cycle turn timeframe as noted 6/27/2008 +/-.

Ref 9388 Major market price actions were good but those who planned RIMM firework, didn't cover shorts... didn't have the volumes to break above the noted resistances, mainly falling wedge formations. Rimm didn't spark a breakout from Nas "Cup & Handle" formation. With BKX and TRAN VLT megaphone formations, a caution is necessary.