triangle

To watch this week:

GS

 D - strong volume 200-MA just below and 20-MA just above, hmmm

RIMM ahead

A cup w. handle pattern formed in RIMM since the beginning of the year (though we can argue that this cup and handle extends back to September '09). Recently, it seemed to have found support at a previous resistance pivot around $68. The breakout point of the rim, is around $72 while a measured move has potential for a gap fill left from a previous earnings disappointment back in September.

solar flags

In a previous post I mentioned FSLR as it was approaching a level of long-running support. Here's a look at the weekly:This week in FSLR has essentially been range-bound and looks to be setting up a bear flag (though the past two candles have been hammer's with very similar open and closing prices):
The $111 range has been bought swiftly 3 times this week, so if it's tested again we should look to gauge strength or weakness in the momentum/pace behind any ensuing bounce. Price above $116 (above the "W-bottom" apex) and we could look for a test of $118-$120.
Similarly, there's TSL. This stock has seen an amazing rally of around 1100% from the Dec.'08 lows (is that math right!?). Anyway, from it's highs back in July '07 TSL retraced 78.6% of it's losses in 1-year's time.
Immediately below current price levels is the 38.2% retracement off of the '08 lows to '10 highs.
The daily chart looks to be forming a bear flag, in which case if price breaks down from here there's a confluence of Fibonacci support (Fibonacci retracement from low to high and Fibonacci extension from high-low-high of the flag pattern) at the 50% ($17) and 61.8% ($13.50) levels.Price seemed to have based upward all week along the lower edge of this bear flag, watch for a break down out of $22.Similar patterns are also occurring in STP, and if you're into the penny stocks, ESLR.

AIG range

Looking at AIG we see price approaching a potential support level ($25) after an epic fail:
and ABC "correction"
and in the most recent year, price bounced and put in a mid-summer higher low:
And more recently, looks to be in it's 3rd push down:in these past two days price broke down from the $33 level and today retraced steeply (nearly 78.6% since the close last Friday):
by the close today, price looked to have put in a bear flag. Watching $29 support level and possibly a breakdown from there (Support, becomes Resistance, becomes Support, becomes Resistance!):

sector leaders

Of note this past week we had two sectors that stood out making new 52-week highs.
XLP (Consumer Staples ETF) has recovered 38% of it's March lows and closed 11% away from it's Sept. '08 highs.Also there's XLV (Health Care Sector ETF) trying to recover previous support levels.Within XLV there's BMY that broke out of a long-term sideways range and may have some follow-through going forward.

FCX

FCX is testing '09 highs again (3rd week of the last 5). The weekly chart shows some interesting things; for one, the Cup w. handle that formed going back to October '08 and breaking out in July of this year. Also, price now sits at a confluence of resistance in the form of an overhead gap and a 61.8% Fibonnaci retracement level (drawn from '08 highs to '09 lows). The measured move coming out of the cup & handle would put price right up against the 78.6% retracement.While on the daily chart, price formed another Cup w. handle pattern recently, with a measured move very close to the one projected on the weekly.

This morning price gaped above a previous resistance level; an important step in making an attempt at the long-term gap fill.

RIMM

RIMM formed a pivot resistance level at $65 recently and sits at a level which could loan it support from here.It was supported today at a trendline extension which happened to be right on top of a 38% retracement level (drawn coming off of the lows and into the $65 pivot) and of course a momentum divergence.
And to top it all off, it looks as though it could be setting up for a 5th Wave!

USO

USO has been fighting to stay above this $39 mark for a while nowWatch for another bounce or potential failure.

RIMM's week ahead

RIMM hasn't been able to get much upside momentum going for it after a disappointing earnings season left it with a 20% haircut.
Looking at the weekly chart and one is tempted to get immediately bearish with that flag setting up:
However, notice that RIMM on the weekly is sitting on top of a 200-MA. While on the daily, yep, another 200-MA! $65 is the line in the sand.

XLE

The Energy sector (XLE) is on fire lately, gaining 10% in the past 8 sessions. Long-term overhead resistance at $58. Watch for signs of exhaustion.
The daily chart formed an nr-7 hanging man, with an exhaustion-type gap.Added overhead resistance in the form of an upper keltner channel and momentum topping out.Top holdings in XLE that particularly look weak include; DVN, APA, XTO. These three issues sold off of their highs today and were never able to challenge those highs for the rest of the afternoon.

also

I forgot to mention in my previous post that with the stocks I follow I also keep track of whether the Lows or Highs were made first in the most recent session. So, for instance, today on the SPY price gaped down, sold off, made lows for the day, "rallied" and took out the day's highs. That combination would have me denote SPY after the close as L1 (or, Lows made first). Meanwhile, XLF made it's highs for the day and sold off, never to challenge the highs for the rest of the day, so I would mark it H1. The idea behind it is that price under selling pressure would work from Highs to Lows, while price being bought might work from Lows to Highs. It's a very short term perspective, after all it is Day trading ;)
So, after the close today;
XLF H1
SPY L1
XLE H1
AAPL H1
FCX L1
GS L1
OIH L1
POT H1
TLT L1
RIMM L1

AAPL revisited

AAPL ended up breaking out of that channel I previously mentioned.However, the most recent highs have registered a weaker momentum push and it is looking very vulnerable here. Not to mention the weekly chart...oooffaa!
It would seem healthy to take some air out of AAPL's stock price now coming into earnings on Oct. 19th.

XLE

The energy sector showing a lot of strength this week.
The weekly chart shows an approach to a long-term resistance level, while the 20- & 50-EMA's are beginning to converge.While on the Daily, price is approaching overhead channel resistance and the momentum push doesn't look like it's done quite yet.
Intra-day (30-min. chart), the most recent impulse push occurred on lower momentum and sits right around a previous resistance level. Keep an eye on the 30-min chart for any pullbacks to the 20- & 50-EMA's for some long entries.

curious

WFC has rejected a close above $29 for many weeks now. Will it succeed in these next two days with the 200-MA overhead at $30.50???? Take a look at the weekly chart (notice momentum looks ready to push upward if it's able to hold strong into the close on Friday).
Check out the daily....a moment of truth for WFC tomorrow and Friday.

watching...

....RIMM tomorrow over $66.5. It spent most of the day wedged between the 20- & 50-EMA's, sold off, put in a higher low and closed at the top of the day's range. A lot of volume has been coming in to support the most recent lows these past three days.

Setups

Some setups to watch next week.
BHI; large volume breakout from a base.MBFI; testing resistance (previous support) in a flag pattern. Price closed at the highs on Friday, strong volume.KLAC; basing at $35.5
GIGM; big volume came in on Wednesday and has since consolidated tightly in a flag.NOC; broke out of a long-running base on Thursday with follow-through on Friday, could be a runner.GLS; nice big volume, price closed on the highs Friday, looks like buyers liked the dip below $8.SCSS; sorry for the crappy image, I can't stretch the chart the way I wanted. This one broke out of a flag after coiling into two nr7 bars. Could run to $6.
LZ; all-time highs, perhaps flagging for more.