Monday, December 04, 2006
Bullish Reversal Triggers
Reversal bars are an objective technique used to time the entry of a trade. Read More... http://daily-stocks.netfirms.com/daily-trading-triggers.htm
Trading Ideas &
Picks
The QQQQ Report for December 4th -
December 8th
QQQQ: The bears were able to push the QQQQ down toward the combined
support of the 15-day moving average and the ascending trendline. Friday's
sharp move below the trendline suggests that we may see a move lower across the
broad markets and it will be interesting to see if this decline will cause a
sustained breakdown, or if the bulls will be able to respond and push the index
back above the trendline...
Trading
Picks - Read More
Trading Education
Tutorial
Triangles
Tightening Price Action Leads to a Breakout
There are various forms of consolidation and they occur anytime there is an
equilibrium of buyers and sellers. One of the most predictive consolidation
formations is the triangle.
Read More...
NASDAQ Chart of the Day
SNTS has formed a large head-and-shoulders pattern with a clear neck
line (support) at 7.20. A break or bounce in this zone could spark big
movement.
Daily Trading Signals
NYSE Chart of the Day
SWY is holding just beneath key resistance at 31.35, which has held
since September. Watch this line closely, as a break or bounce could be big.
Daily Trading Signals
Daily Market Commentary
Updated Friday, 12/1 for Monday's market.
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Key DOW Levels for 12/4
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P
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Above 12,275
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DN
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Below 12,050
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Volatile Session...
- Dow reverses from early decline to end day basically flat. The
index reversed sharply from the session's lows and eventually staged a 100
point rally to close the day with a relatively modest 28 point loss.
- The NASDAQ and S&P each broke major pennants to the downside to begin the
day, but later rallied from big lows to close the day respectfully. Watch the
larger patterns for key movement next week.
Summary
The Dow ended the day with very bullish rally after dipping its toes beneath
12,100. This is a highly bullish sign for the index, especially if 12,250 is
crossed with authority. Also watch 12,050 for weakness.
Read More...
