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No. I am not crazy, but my thoughts today finish with the conclusion that markets will probably continue going higher.

In the last post I wrote about Nokia, I referred the Doji Patterns:

But, in the other hand, Nokia also followed Motorola’s way touching new yearly lows at 28,28, but again doing the Doji Pattern (a pattern of recovering) as it done two days ago.
The THING right now that we need to watch is what Nokia will do, will their shares follow Motorola? Or, will they fight against the storm?
So they really fought against that storm, as Motorola followed Nokia’s positive evolution. anyway, Truth be told, the reason Motorola’s shares were high is mainly related to Nasdaq “strongness” we saw these last days. In my opinion, the markets will remain higher, as the indicators I regularly use to see how market tends to evolute are all positive.
But, make all your investments/trades with caution, because many well known Fundamental Investors, as the billionaire Warren Buffet are saying that the crisis tend to remain. The THING we need to know is that if they were saying it just to buy stocks with lower prices (as they have influence on the markets) or if they are saying their real perspective. Let me remind you that Warren Buffet has the best fundamental analysis teams on the world.
Another thing I want to focus in today’s post is another pattern that many stocks, as Motorola are doing right now, that is the MACD divergence. I would really recommend you to search on Google about that.
This is a positive divergence, because MACD is going higher and the stocks were doing more and more low lowers and low highs. The green lines are representing that divergence on Motorola’s chart.
By the way, we had some patterns on Nokia showing sometimes that the stock could have reach the top, but as I said probably that was a top to last for few days because the market is having a strong bull basis.

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By , Financial Director and Correspondent on May 6th, 2008 GMT +2


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