Friday, January 26, 2007
Trading Ideas &
Picks
Swing
Trade of the Week
IVGN: Stock surged past a resistance area with a bullish green candle
then traded at the upper end of the bullish breakout candle, representing a
consolidation and possible setup for further upside. Look to go long at
60.67...
Trading
Ideas - Read More
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...
NASDAQ Chart of the Day
RESP
got a large breakaway gap through the top of a large trading range at 39.50
today, which is highly bullish. Look for more strength from this stock,
especially if 43.25 is solidly crossed.
Daily Trading Signals
NYSE Chart of the Day
RTN
has held within a highly bullish uptrend that began last summer, essentially
forming a very clear lower trend line in the process. A break of this lower
line at 51.00 could really spark big movement to the downside.
Daily Trading Signals
Daily Market Commentary
Updated Thursday, 1/25 for Friday's market.
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Key DOW Levels for 1/26
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P
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Above 12,650
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DN
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Below 12,450
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Huge Reversal...
- Dow reverses sharply from yesterday's highs, drops steadily
throughout the day. The index was unable to rise above the 12,635 zone and
eventually broke below near-term support at 12,560 en route to a huge 119 point
loss for the session.
- The NASDAQ and S&P each reversed sharply from early highs and proceeded
to drop furiously throughout the day. The NASDAQ closed at key support, which
we will watch for signs of a much bigger continuation.
Summary
The Dow ended the day near the lows of the session after taking a huge dive
from all-time highs above 12,600 yet again. Today's decline was a steady,
day-long event, which means this weakness could last much longer moving
forward. Watch 12,450 for continued weakness.
Read More...
Bullish Reversal Triggers
Reversal bars are an
objective technique used to time the entry of a trade. Read More... http://daily-stocks.netfirms.com/daily-trading-triggers.htm
