Wednesday, February 14, 2007
Trading Education
Tutorial
Support and Resistance Levels
History Tells Us When Securites are Overbought or Oversold
Support indicates a level on the chart where we can expect an
increase in the demand for a security (buyers take over). How do we know this?
By identifying this reaction to this price level in the chart's history.
Read
More...
NYSE Chart of the Day
HIMX
has gotten a big upside break through the top of a clear triangle pattern via a
breakaway gap and increased volume, which is quite bullish. Look for this stock
to remain bullish toward a price target of about 7.25.
Daily Trading Signals
NYSE Chart of the Day
CSX
has broken through the clear 38.30 resistance level and could be headed much
higher. Look for more strength so long as this stock remains above 38.00.
Daily Trading Signals
Daily Market Commentary
Updated Tuesday, 2/13 for Wednesday's market.
|
Key DOW Levels for 2/14
|
|
UP
|
Above 12,700
|
|
DN
|
Below 12,525
|
Break & Rally...
- Dow breaks 12,600 to upside, rallies to triple-digit gains. The
index was able to hold above the 12,600 zone throughout the session and
eventually closed near the day's highs with a 102 point gain, which is clearly
the best gain of the month.
- The NASDAQ and S&P each opened the session with big strength today, and
look poised for another big move. Watch the major triangle pattern in the
NASDAQ for key, guiding direction.
Summary
The Dow closed out a solid session near the day's highs, but is once again
approaching major resistance at 12,700, which turned the index away in big
fashion earlier in the month. Look for the index to build out above 12,600, as
it gears up for a potential test of 12,700.
Read More...
