Wednesday, December 13, 2006
Technical Indicators
True Strength Index
The True Strength Index (TSI) is a momentum-based indicator,
developed by William Blau. Designed to determine both trend and
overbought/oversold conditions, the TSI is applicable to intraday time frames
as well as long term trading.
The True Strength Index is a variation of the Relative Strength indicator. It
uses a double smoothed exponential moving average of price momentum to minimize
choppy price changes and highlight spot trend changes with little or no time
lag. An increasing True Strength value indicates increasing momentum in the direction
of the price movement.
Read More...
NYSE Chart of the Day
ALGN
is clearly winding up within the boundaries of a large triangle pattern. Watch
for a breakout from this pattern for the next key move: 14.50 up and 13.00
down.
Daily Trading Signals
NYSE Chart of the Day
BGG has pulled back 50% of the prior move, which means we could see
another big advance upon us. Watch for a move through 28.75 for continued
strength.
Daily Trading Signals
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Daily Market Commentary
Updated Tuesday, 12/12 for Wednesday's market.
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Key DOW Levels for 12/13
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P
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Above 12,375
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DN
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Below 12,225
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Winding Up...
- Dow bounces from lows, winds up within clear consolidation
range. The index continues to wind up within a large consolidation range that
spans from 12,250 to 12,360, which we'll want to watch for the next big
breakout move.
- The NASDAQ and S&P each sold off heavily through the first part of the
session, but rallied off lows with conviction, which bodes well for a potential
upside break tomorrow.
Summary
The Dow closed the day well off the session's lows after bouncing off key
near-term support at 12,250. Look for continued range movement within the
consolidation range until a solid breakout is seen.
Read More...
