Monday, June 11, 2007
Technical Indicators
Projection Oscillator
The Projection Oscillator is a by-product of Dr. Mel Widner's
Projection Bands. In essense a slope-adjusted Stochastic, the Projection
Oscillator shows the relationship of the current price to its minimum and
maximum prices over time. Unlike the Stochastic Oscillator, here the minimum
and maximum prices are adjusted up or down by the slope of the price's
regression line. It is this adjustment that makes the Projection Oscillator so
responsive to short-term price moves.
Perhaps the best way to understand the relationship between the Projection
Oscillator and Projection Bands is the knowledge that the Oscillator shows
where the current price rests between the current location of the bands. A
value of 0 indicates that prices are touching the bottom band, a value of 50
indicates that the current price is exactly in the middle of the two bands
while a value of 100 indicates that prices are touching the top band...
Read More...
Trading Education
Tutorial
Pattern Cycles: Reversals
No chart pattern better illustrates this slow
evolution from bull market to bear decline than the Descending Triangle. Within
this simple structure, the trader examines how life drains slowly from a
dynamic uptrend. Variations of this destructive formation precede more
breakdowns than any other reversal. And they can be found doing their dirty
deeds in all time frames and all markets.
But why does it work with such deadly accuracy? Most traders don't understand
how or why patterns predict outcomes. Some even believe these important tools
rely on mysticism or convenient curve fitting. The simple truth is more
powerful: congestion patterns reflect the impact of crowd psychology on changes
in price and momentum...
Read
More...
Trading Ideas &
Picks
Weekly Swing Ideas Report for June 11th
- June 15th
Stock Picks - Long and Short
Potential Swing Candidates ... SwingTracker Scans: Trading Window, Force Swings
(WMT WAL MART STORES INC, JNPR JUNIPER NETWORKS INC, TGT TARGET CORP, MOS
Mosaic Co), Triangle, Revival (EMC E M C CORP MASS, HPQ HEWLETT PACKARD CO,
NVDA NVIDIA CORP, GLW CORNING INC, SNDK SANDISK CORP), Reversals, Breakouts
(EFD EFUNDS CORP, AFSI AMTRUST FINANCIAL SERVICES, JDAS JDA SOFTWARE GROUP
INC), and more...
Trading
Ideas - Read More
Trading Education
Tutorial
Courtesy of
Nirvana Systems
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...
NASDAQ Chart of the Day
Courtesy
of Nirvana Systems
MTRX
has built out a solid consolidation pattern at highs from 24.00 to 27.50, which
could offer an explosive breakout move soon. Watch this range for key direction
soon.
Daily Trading Signals
NYSE Chart of the Day
Courtesy
of Nirvana Systems
LZB
is holding right at key support at 11.20, which has held since last December.
This is the third touch on this support level and, if it holds, could send the
stock into a nice uptrend. Watch for strength above this zone, unless support
is violated.
Daily Trading Signals
Daily Market Commentary
Courtesy of
Nirvana Systems
Updated Friday, 6/8 for Monday's market.
|
Key DOW Levels for 6/11
|
|
UP
|
Above 0
|
|
DN
|
Below 13,225
|
Big Bounce...
- Dow bounces from early lows, rallies to the Close. The index
wound up throughout the day and eventually broke out above 13,320 and rallied
100 points and ending the day with a solid 158 point gain.
- The NASDAQ and S&P each bounced sharply from early lows and closed the
day at the session's highs. Look for this pull-back to form the framework for a
potential consolidation range next week.
Summary
The Dow ended the day at the session's highs after rallying steadily from the
morning lows. The index has bounced back nicely after yesterday's decline, but
remains well off the highs set late last week. Look for the index to
potentially build out a range at lows ahead of the next key move. Continue to
watch 13,200 for more selling pressure.
Read More...
