Earlier versions of some of the charts below were posted in...

Earlier versions of some of the charts below were posted in early June.

Chart1: Daily Short Sales show that BHP continues to be heavily shorted, usually in excess of 27% per day [lowest was 10% on Dec31, highest on May25 was 44%]. Some gaps filled & a couple of newbies created. Last week BHP repeatedly closed below the lower trend line extending from the Nov21 low of $20 & the March 4 low.
In it's pre-divi rally in 2008 BHP's price rose $6.22 [from $35.82 on Aug5 to $42.07 on Aug29] - after having trended down $10.16 from the swing high on June 24 [42 days]. As of Friday BHP has trended down $5.21 for 21 days since the swing high on June 5. Hmmm?

Chart2: ProfitSource's weekly chart for BHP shows price action is modelling a 5 Year Elliott Wave pattern, with wave 4 showing as completed & a projected Wave 5 target of ~$60.

Chart3: Both the 1 day swing chart & 2 day swing chart show BHP's trend as DOWN!

Chart4: BHP's 1 week swing chart shows the trend as UP!

SUMMARY:
IMO TA data for BHP is sending mixed signals - BHP has fallen about $5 from its recent swing high but if the 2008 pre-divi scenario replayed that would mean another 21 days & %5 further down before any pre-divi rally.

Chart1:


Chart2:


Chart3:


Chart4:



4YIO - NFA - PDYOR