Friday, August 03, 2007
Technical Indicators
Keltner Channels
Keltner Channels are a volatility-based indicator
that uses a pair of values placed as an "envelope" around a data
field. The values are calculated by taking the Exponential Moving Average of
the data for a given period and adding or subtracting twice the average true
range from the moving average.
Envelope theory states that prices will most likely fall within the boundaries
of the envelope. If prices drift outside their envelope this may signify a
trading opportunity.
Keltner Channels are similar to Bollinger Bands and share many of their characteristics
but represent volatility using high and low, rather than the standard deviation
of the one field.
Read More...
Trading Education
Tutorial
Courtesy of
Nirvana Systems
Trendlines
Determining Market Reversals and Continuations
Trendlines are perhaps the oldest tools known to
chartists. Trendlines form across peaks and valleys called pivot points -
relative highs and lows in a chart. As more points form along a line, it
becomes more "established". This means that, when the line is broken,
it will likely follow through with a strong move in the new direction.
Read More...
NASDAQ Chart of the
Day
Courtesy
of Nirvana Systems
THQI has filled a clear exhaustion
gap to the upside via large volume, which could send the stock even higher.
Look for more strength from this stock, especially if the clear upper trend
line is crossed at 30.25.
Daily Trading Signals
# posted by Swingtrade @ 7:09
AM 0 comments links to this post
NYSE Chart of the Day
Courtesy
of Nirvana Systems
TOL has gotten a big upside
reversal on increased volume, which could lead to a big volume climax rally.
Watch 23.50 for signs that more strength is ahead.
Daily Trading Signals
Daily Market Commentary
Courtesy of
Nirvana Systems
Updated Thursday, 8/2 for Friday's market.
|
Key DOW Levels for 8/3
|
|
UP
|
Above 13,525
|
|
DN
|
Below 13,350
|
Steady Gains...
- Dow trades mostly sideways, rallies into the
Close for another solid session. The Dow traded mostly sideways throughout the session
today, but was able to hold gains after yesterday's late-day rally, which is
moderately bullish. The index actually rallied late in the session yet again
today, but ran smack into the heavy 13,500 resistance level, which we will
watch closely tomorrow. .
Read More...
