Monday, April 16, 2007
Daily Stock Picks
Bottoming -
Apr 13 for Apr 16:
HTRN KOMG PLNR XPRSA
(Stocks making a 52
WK low but closing higher than they opened)
Oversold Stocks -
Apr 13 for Apr 16:
AACC COCO HNAB MECA TNOX
(Stocks closing
higher than they opened, crossing up through their 25 Stochastic level, and on
150% + greater than average 6 month volume)
Volume Pop -
Apr 13 for Apr 16:
CHTR GNVC NGEN TUNE
(Volume Pop With
High ADX & RSI)
More... Stock Picks Page #1
Trading Ideas &
Picks
The QQQQ Report for April 16th - April
20th - Filled the Gap
QQQQ: The chart is a good example of how a gap in the price of a
security often gets filled over time. It will continue to be very interesting
to see how this level of short-term resistance will affect the price action of
the QQQQ as earnings season rolls on...
Trading
Picks - Read More
Technical Indicators
Fisher Transform
The Fisher Transform indicator attempts to be a major turning
point indicator and is based on John Ehlers' November 2002 Stocks and
Commodities Magazine article, "Using The Fisher Transform."
With distinct turning points and a rapid response time, the Fisher Transform
uses the assumption that while prices do not have a normal or Gaussian
probability density function (that familiar bell-shaped curve), you can create
a nearly Gaussian probability density function by normalizing price (or an
indicator such as RSI) and applying the Fisher Transform. Use the resulting
peak swings to clearly identify price reversals...
Read More...
Trading Education
Tutorial
Courtesy of
Nirvana Systems
Moving Averages and the Trend
Moving Averages Help Us Identify Trend Reversals
One of the old axioms of technical analysis is that 'the trend is
your friend'. This holds true, as long as you trade in the direction of the
trend. However, your 'friend' has two faces, and can turn on you to eliminate
profits (and your friendship!). Trend reversals can occur at any time and one
of the important skills a trader must possess is the ability to identify a
reversal. It is easy to exit a position too early if we over-anticipate a trend
reversal, and just as easy to watch our profits evaporate if we are too slow to
exit the trade.
Read
More...
NASDAQ Chart of the Day
Courtesy
of Nirvana Systems
ANSS
has formed a bearish pennant consolidation at the lows of the February
reversal, which indicates that more selling will likely occur. Watch for a
potential downside break from this pattern at 49.75 for signs that more
weakness will occur.
Daily Trading Signals
NYSE Chart of the Day
Courtesy
of Nirvana Systems
URI
took a big gap up a few days ago, but has been holding near-term support ever
since. If support is broken through 30.80, we could see a steady fill of this
gap back toward the 27.50 zone.
Daily Trading Signals
Daily Market Commentary
Courtesy of
Nirvana Systems
Updated Friday, 4/13 for Monday's market.
|
Key DOW Levels for 4/16
|
|
UP
|
Above 12,650
|
|
DN
|
Below 12,500
|
Above 12,600...
- Dow reverses from early decline, rallies through 12,600n. The
index closed the session near the highs of the day with a nice 59 point gain
and is now holding above the key 12,600 level, which holds a lot of
significance right now.
- The NASDAQ and S&P each reversed nicely from early lows and closed the
day at the session's highs, which indicates strength heading into the weekend.
Look for more overall strength above resistance next week.
Summary
The Dow got another morning reversal to the upside, which led to a break back
above 12,600 for the first time since February. If the Dow can hold above this
zone, we could see much more buying ahead. However, we could see a bit of a
struggle in this zone before another key directional move occurs.
Read More...
