Monday, February 26, 2007
Trading Ideas &
Picks
The QQQQ Report for February 26th -
March 2nd
QQQQ: Tthe past week was dominated by the bulls as they sent the QQQQ
back toward its January highs of $45.50. It will be interesting to see whether
the bulls will be able to push the index above this resistance and end the
period of consolidation, or if the bears will extend Friday's loss and send the
QQQQ back toward its 100-day moving average...
Trading
Picks - Read More
Trading Ideas &
Picks
Weekly Swing Ideas Report for February
26th - March 2nd
Stock Picks - Long and Short
Potential Swing Candidates ... SwingTracker Scans: Trading Window, Force Swings
(IWM, iShares Russell 2000 Index, WMT, Wal-Mart Stores, RIMM, Research in
Motion, NTAP, Network Appliance, ONXX, ONYX Pharmaceuticals), Triangle (IWM,
iShares Russell 2000 Index, TEX, Terex Corp, AG, AGCO Corp, FE, FirstEnergy
Corp, KSU, Kansas City Southern), Revival, Reversals (NVEC, NVE Corp, TKLC,
Tekelec, ACMR, A.C. Moore Arts & Crafts), and more...
Trading
Ideas - Read More
Trading Education Tutorial
Double Tops and Bottoms
Waiting for the Setup to Complete Results in Profits
There are various chart patterns that help us find good reversal
candidates. Of the major reversal patterns, the double top or bottom is not
only one of the most recognizable, but also one of the most predictive.
Read
More...
NASDAQ Chart of the Day
HLTH
has been trending steadily higher over the last few months, but has now taken a
potential exhaustion gap and island reversal to the downside, which is quite bearish.
Watch for a potential decline from these levels.
Daily Trading Signals
NYSE Chart of the Day
ORB
is holding beneath major resistance at 20.25 and has put in a potential
exhaustion gap at the highs, which is bearish. Watch for weakness beneath this
resistance level, especially if 19.00 is taken out.
Daily Trading Signals
Daily Market Commentary
Updated Friday, 2/23 for Monday's market.
|
Key DOW Levels for 2/26
|
|
UP
|
Above 12,700
|
|
DN
|
Below 12,600
|
Slow Session...
- Dow trades slowly sideways, remains beneath 12,700. The index
closed with a 39 point loss and ended the day quietly between the key 12,600
and 12,700 levels. If the index can remain above 12,600, there's a great chance
at another new high.
- The NASDAQ and S&P each traded mostly lower today, but continue to hold
above key near-term support. Look for each to continue to gear up for the
approaching breakout move.
Summary
The Dow has gotten a steady, three-day pull-back from the all-time highs
reached earlier in the week, which means we could be getting really for another
ride higher soon. Watch for continued overall strength above 12,600 next week,
especially if 12,700 is taken out with force.
Read More...
