Thursday, January 25, 2007
Ultimate Trading Machine - Limited Edition Forex &
Futures
Trading Ideas &
Picks
Williams Companies Inc- WMB - Broken
ascending triangle pattern
WMB:
The stock has recently broken out of an ascending triangle pattern. The move
back toward the trendline shown below, also known as a throwback, is a good
example of the type of move that many traders expect to see following a break
out of a triangle pattern...
Trading
Picks - Read More
Technical Indicators
Moving
Average, Triple Exponential
The Triple Exponential Moving Average (TRIX) is an oscillator used to identify
oversold and overbought markets as well as a momentum indicator. For use as an
oscillator look for a positive value to indicate an overbought market and a
negative value indicate an oversold market. When TRIX is used as a momentum
indicator, a positive value suggests increasing momentum just as a negative
value suggests momentum is decreasing. Some believe that the TRIX crossing
above the zero line is a buy signal and a closing below the zero line is a sell
signal. Divergence between price and TRIX can also indicate significant turning
points in the market.
Read More...
Trading Education
Tutorial
Saucer Patterns
Rare Pattern Is One of the Most Predictive
TOne of the most predicitive chart patterns you will come across
is the saucer pattern. Saucers are also referred to as "bowls" or
even "rounded tops or bottoms", and one look at this pattern tells
where these names are derived from. However, there is a problem with saucer
patterns - they're hard to find.
Read
More...
NASDAQ Chart of the Day
HYSL
took a huge breakaway gap to the upside with big volume after bouncing higher
from the major 38% retracement point in the charts. Look for much more strength
from this stock above 39.00.
Daily Trading Signals
NYSE Chart of the Day
IR is holding at a very clear resistance level at 41.75, which has held
for many months. Watch this level for a solid breakout or bounce for the next
key move. Watch 42.00 up, and 40.50 down.
Daily Trading Signals
Daily Market Commentary
Updated Wednesday, 1/24 for Thursday's market.
|
Key DOW Levels for 1/25
|
|
P
|
Above 12,600
|
|
DN
|
Below 12,475
|
Above 12,600...
- Dow rallies throughout session, sets another all-time high. The
index closed out above 12,600 for the first time ever, the index didn't really
breakaway in an aggressive manner, which could mean we still have a fight at
12,600 to deal with.
- The NASDAQ and S&P each received huge bounces to the upside today, but
with the Dow and S&P hitting new highs, the NASDAQ continues to lag
overall. Look for continued strength, especially should continuation patterns
form.
Summary
The Dow closed the session with a nice late-day advance, which pushed the index
over the hump of 12,600. Look for the index to continue to struggle in this zone,
unless 12,635 is crossed and held.
Read More...
