Morning Update- SOX, CEPH, PRU, TALX, & LSCP

The Semiconductor Index (SOX)- Weekly chart
The weekly chart of the SOX shows that resistance is at 559.60. The SOX is not far from its 2004 highs (560.70), and it is important at this time that it take out the 2004 high. If the high is taken out, the next stop would be 641. The moving averages are holding up nicely in a nice bullish fan. Indicators and oscillators are bullish and we are just waiting on a reversal to the upside. The SOX is bullish on all time frames. I just want to reiterate that the SOX is at it's 2 year resistance line and it hasn't broken out yet. Therefore, technology is lagging. The SMH lacks the components of this sector that have performed well this year. Consequently the SOX is weak and it has stalled.

Cephalon, Inc. (CEPH) - Daily chart
On the daily chart, you can see that CEPH is in an ascending triangle pattern. Each time CEPH has dipped it has held it's uptrend line. On the weekly chart, CEPH is in a bullish pennant pattern. CEPH is also in a monthly slim jim pattern. Indicators and oscillators look bullish here on the daily chart.

Prudential Financial Inc. (PRU) - Daily chart
The daily chart shows that PRU is in a large ascending triangle pattern. PRU has been consolidating in a slim jim pattern at the top of the triangle in the range of $73.00 -- $75.00. Indicators and oscillators are bearish. However the PPO is starting to turn up as are stochastics. Today PRU is up 1.31% at $76.53.

Talx Corp. (TALX) - Daily chart
The daily chart of TALX illustrates that it is an ascending triangle pattern. It has recently finished a wave 3 to 4 correction when it place the lows at $27.82. Indicators and oscillators are beginning a bullish trend reversal. This is another stock with all time high short interest. I am going to add it to the portfolio table at the pivot price of $32.81. This is the most bullish out of all the stocks that I have discussed today.

Laserscope (LSCP) - Daily Chart
The daily chart of LSCP illustrates that it is in a symmetrical triangle pattern. This is another stock that has all time high short interest. This stock has been beaten down and is in a bearish trend and is very oversold. It is beginning to look bullish on all time frames. LSCP reports earnings today. I do not know yet if I will add it to the portfolio. It will depend on the price action. Nevertheless, it is on my watch list. Wait for the alert before buying.