It looks like the market gave up the ghost on some of my picks because of panic selling, it seems. Don’t despair, bring it on!

The NASDAQ’s spiraling daily upward channel remains intact, and may take the lead; and the trend in earnings of the S&P500 are still good, even if the FED does raise rates, earnings still would be good for year!em>

The S&P500 is in an hourly downward channel , but is now flirting with previous 78% daily fib. support; and now horizontal support; the same levels it was at approx. on 5/11/2007 and 6/08/2007 horizontally. Profit target for the Bears is most likely to be $1485.41. If supports do not hold, there is tremendous support at a monthly AND weekly Fib level AND horizontal support at $1476.30. It could very well rally up and make one last low to $1476.80 before continuing on next month in its upward valuation and trend.

Mr. Bull Rally’s picks:

ATAT (T) – Is still traveling in an upward channel. In fact, we are at the bottom range of the channel, and at an upward trendline, a 20day MA and 200 period 4-hour MA, and we are near to some strong horizontal support near $38.48, where the BEARS most likely will be looking to take profit if they can take it down that far. $38.37 and even $37.60 are great places to get LONG to ride this channel train up to the top of the channel (possibly $43).

Hanson Natural Corporation (HANS) - After breaking out, it has recently pulled back setting up the potential for a great swing trade: A long entry would be at $42.47, a 38.2% Fib. support level, which is also just above the upper part of the rising window (GAP), AND is just about past resistance at $42.24. On the other hand, I like the 50% support at $41.24 because it is in tune the middle rally of a strong weekly bar, and it is at horizontal support.

Citigroup (C) - Formed a successful Bearish Head and Shoulders pattern, but you know what happens when bears score points; they take profit and the stock pulls back! C also formed bearish Crows, which suggests that this huge 3 day consecutive downward move is exhausted. The Weekly chart suggests two things:

(1) Citigroup is retracing on a weekly basis and will stop at 62% support level at $50.98 (currently $51.15). The RSI indicates C’s market is oversold.

(2) Citigroup’s weekly chart is traveling in a triangle formation, where we should look for support at the long term trend-line, which is also a 78% level support at the $49.90 – $49.70 – $49.20 area. There is long-term trendline support here held up faithfully over 5 times already.

I think both of these will make great trades, although I personally favor #2 at $49.70; but #1 at $50.98 may be closer in line with this weeks economic data, and therefore, the Bears may not extend the market down to #2.

Rumor Pick from Genesis:

Titanium Metals (TIE) – The Non-Ferrous Index for TIE is finally at the lower portion of its daily channel. At this low point there are also some long-term trend-lines and 78.2% Fibonacci support (Weekly). This looks like the perfect opportunity to get LONG and buy some shares of Titanium Metals. In fact, Bears already hit Fibonacci target at $30.54 in TIE, which is also a Fibonacci support level. Their next Fib target is $29.00 (If they can get that low). $29 is also the bottom of TIE’s daily Channel, and it is also a long-term (Weekly and Monthly) BULLISH Fibonacci support level of 62% from the low of $22.77 to the high of $29.79. If I were a Bear I would take profit and run, technically. I definitely would not want to be in the market Thursday and Friday; especially with the almost perfect line up of a whole industry bounce.
Rumor has it that TIE may be bought out soon:
http://www.streetinsider.com/Basic+Content/Market+Rumors+0625/2547970.html The prospects for the company are astounding, its business is profitable, its gross margins are growing, it has no debt, it is undervalued; the titanium industry is still growing; Insiders of the company made direct purchases.