Thursday, January 18, 2007
Trading Education
Tutorial
Triangles
Tightening Price Action Leads to a Breakout
There are various forms of consolidation and they occur anytime there is an
equilibrium of buyers and sellers. One of the most predictive consolidation
formations is the triangle.
Read More...
Trading Education
Tutorial
Volatility
Well Behaved Stocks Reap Rewards
Some stocks move multiple points and multiple directions in one trading
session. Other stocks are more methodical in their day-to-day movement. Which
type of stock is more attractive to you as an investor.
Read More...
Trading Ideas &
Picks
Swing
Trade of the Week
MCHP: Stock surged past the resistance area, then traded at the upper
end of the bullish green breakout candle, representing a consolidation and
possible setup for further upside. Look to go long at 36.21...
Trading
Ideas - Read More
Trading Ideas &
Picks
The QQQQ Report for January 15th -
January 19th
QQQQ: The index is now in an interesting position because it is
trapped beneath the resistance of a medium-term trendline, but is trading above
the newly-formed support of its December highs...
Trading
Picks - Read More
Trading Ideas &
Picks
Light Crude Oil - Downward momentum
Oil:
Soil prices have moved sharply lower since the highs made in mid 2006, and we
think that this downward momentum will continue...
Trading
Picks - Read More
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NYSE Chart of the Day
GOOG
has put in a possible double top at key resistance at 513.00, which could be
potentially bearish. Look for a possible drop to occur beneath 513.00.
Daily Trading Signals
NYSE Chart of the Day
BDC
has just gotten a big upside break from a clear triangle consolidation at 40.00
and could be headed much higher. Look for continued strength toward 47.00.
Daily Trading Signals
Daily Market Commentary
Updated Wednesday, 1/17 for Thursday's market.
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Key DOW Levels for 1/18
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P
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Above 12,625
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DN
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Below 12,525
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12,600 Holds...
- Dow tests key resistance at 12,600, but fails yet again. The
index was not able to maintain the momentum above resistance and eventually
fell to the Close for a mild loss on the day.
- The NASDAQ and S&P each held ground throughout much of the day, but the
tech-heavy index eventually dragged the broader market down. Watch key
near-term support for key direction tomorrow.
Summary
The Dow ended the day with a mild loss after reaching to new intraday highs
midway through the session. The index is not having any luck breaking and
holding above key resistance at 12,600 and could be on the verge of a big
pull-back from highs. Watch 12,525 closely.
Read More...
