Friday, December 15, 2006
Trading Education
Tutorial
Fibonacci
Retracement Levels
Using Retracement Levels in Your Trading
Leonardo Fibonacci da Pisa was a thirteenth century mathematician who (re)
discovered what is today known as the Fibonacci sequence. Adding 1+1 and then
continuing to add the sum to the previous number will arrive at this numerical
sequence. The sequence gives rise to the following numbers: 1, 1, 2, 3, 5, 8,
13, 21, 34, 55 and so on.
Read
More...
NASDAQ Chart of the Day
GERN has taken a bearish breakaway gap to the downside and could
continue pushing lower. Watch 8.50 for continued selling pressure.
Daily Trading Signals
NYSE Chart of the Day
ATG
has halted its advance at key resistance at 40.00 and continues to hold firmly.
If this stock cannot rise above this level, we could see another steady decline
back toward 35.00.
Daily Trading Signals
Daily Market Commentary
Updated Thursday, 12/14 for Friday's market.
|
Key DOW Levels for 12/15
|
|
P
|
Above 12,450
|
|
DN
|
Below 12,300
|
Breakout & Rally...
- Dow finally breaks resistance, rallies to the Close. The index
is now holding firmly above resistance and could be headed higher still.
- The NASDAQ and S&P each broke out of key ranges today and proceeded to
rally. Look for continuation pattern to push these higher.
Summary
The Dow has finally broken key resistance and has reached all-time highs yet
again. If the index can continue to build out above resistance, we could see
much more strength ahead.
Read More...
