Charts of the Week - Mike Paulenoff, MPTrader.com

05/02/10 - http://www.MPTrader.com - The bond market, iShares Barclays 20+ Year Treasury Bond (TLT), looks like it's made a huge base and is about to break out. The charts on basic materials, China and the retail sector look vulnerable, too, suggesting the consumer may need a rest. All of this could be signaling a disappointment out of Friday's jobs report for April and a possible correction in equities. Mike continues by discussing several other market sectors including iShares Barclays 20+ Year Treasury Bond (TLT), industrial sector or the iShares Dow Jones US Basic Materials (IYM), copper and gold, Freeport-McMoRan Copper & Gold Inc. (FCX), which include the The Dow Chemical Company (DOW), Alcoa, Inc. (AA) and others as well as the retail sector, Retail HOLDRs (RTH), and why, even though the charts for the retail sector may look fantastic, they may not be doing nearly as well as the charts may appear to look at first glance. In short, basic materials is telling us that the demand for intermediate-term goods is probably tapering off, and now the consumer as seen from the individual Wal-Mart Stores Inc. (WMT), Amazon.com (AMZN), J. C. Penney Company, Inc. (JCP) and Macy's, Inc. (M) charts appears to be starting to take a breather as well. If that's the case, and Chinese chart looks vulnerable, and the bond market looks like it's made a huge base and is about to break out, it's difficult to be bullish on equities and on the data from Friday's jobs report. You can hear the video and view the charts in their entirety at: http://www.MPTrader.com - MP Trader is a real-time diary of Mike Paulenoff's trading ideas and technical chart analysis of Exchange Traded Funds (ETFs) that track equity indices, metals, energy commodities, currencies, Treasuries, and other markets. It also includes coverage of key component stocks of these ETFs.