Wednesday, February 28, 2007
Technical Indicators
Commodity Selection
Index (CSI)
As an indicator of momentum, the Commodity Selection Index, or CSI
is designed to help select commodities suitable for short-term trading.
Designed for short-term traders who can handle the risks associated with highly
volatile markets, a high CSI rating indicates that the commodity has strong
trending and volatility characteristics. These characteristics are brought out
by the Directional Movement factor in the calculation - the volatility
characteristic by the Average True Range factor.
CSI creator Welles Wilder describes his focus to trading commodities with high
CSI values. As these commodities are highly volatile, they have the potential
to make the quickest return in the shortest time...
Read More...
Daily Stock Picks
Bottoming -
Feb 27 for Feb 28:
AKRX AVNR BKUNA LEND PRVT SHFL
(Stocks making a 52
WK low but closing higher than they opened)
Oversold Stocks -
Feb 27 for Feb 28:
CRGN CYBS SHOO
(Stocks closing higher than they opened, crossing up through their 25
Stochastic level, and on 150% + greater than average 6 month volume)
Volume Pop -
Feb 27 for Feb 28:
DSTI
(Volume Pop With
High ADX & RSI)
More... Stock Picks Page #1
Trading Education
Tutorial
Trendline Breaks
When is a Trend Truly Broken?
The importance of trendlines cannot be overstated when it comes to
technical analysis. We are told to trade with the primary trend, exit when the
trend reverses, enter on trend reversals, and so on. Trends are easy enough to
identify, but when is a trend actually broken?
Read
More...
NASDAQ Chart of the Day
ASIA
got a big double top reversal off the 8.80 level and then took a big breakaway
gap to the downside through the major lower trend line at 8.00, which is highly
bearish. Look for much more weakness ahead.
Daily Trading Signals
NYSE Chart of the Day
AV
is breaking the neck line of a large head-and-shoulders pattern that has formed
at the highs of the bullish rally that began last summer. Today's break at
12.30 could spark big weakness ahead.
Daily Trading Signals
Daily Market Commentary
Updated Tuesday, 2/27 for Wednesday's market.
|
Key DOW Levels for 2/28
|
|
UP
|
Above - None
|
|
DN
|
Below 12,075
|
Major Sell-Off...
- Dow sells off in panicked fashion, closes down 416 points. The
index took out all of the year's gains and essentially dropped back to the
levels not seen since the first of December - in one day! Today's vast weakness
indicates that much more selling could be ahead.
- The NASDAQ and S&P each sold off heavily from start to finish today and
closed in a highly bearish manner. Look for potential continuation patterns to
build out ahead of the next key directional move.
Summary
The Dow closed the day very, very weak today, but could be headed much lower.
Look for potential sideways movement to lead to more selling ahead, especially
if the Dow remains beneath 12,350.
Read More...
