Thursday, March 01, 2007
Quantum Swing Trader
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Trading Ideas &
Picks
Swing
Trade of the Week
CRDN: Stock surged down through a support area, then traded at the
lower end of the bearish colored candle, representing a consolidation and
possible setup for further downside. Look to go short at 50.62...
Trading
Ideas - Read More
Trading Ideas &
Picks
ACE Ltd- ACE - Below the support
ACE:
The bears have pushed the stock below an interesting level of support. The
$56.50 level has propped up the price over the past six months, but the recent
move below suggests that the selling pressure could continue...
Trading
Picks - Read More
Trading Education
Tutorial
Moving Averages and the Trend
Moving Averages Help Us Identify Trend Reversals
TOne of the old axioms of technical analysis is that 'the trend is
your friend'. This holds true, as long as you trade in the direction of the
trend. However, your 'friend' has two faces, and can turn on you to eliminate
profits (and your friendship!). Trend reversals can occur at any time and one
of the important skills a trader must possess is the ability to identify a
reversal. It is easy to exit a position too early if we over-anticipate a trend
reversal, and just as easy to watch our profits evaporate if we are too slow to
exit the trade.
Read
More...
NASDAQ Chart of the Day
BRCD
is holding at major resistance, which has remained in tact since last Fall.
Look for a break below 8.80 for confirmed weakness.
Daily Trading Signals
NYSE Chart of the Day
ACN
has broken a major lower trend line to the downside at 37.70, which is highly
bearish after the major uptrend it has enjoyed. Look for more weakness beneath
37.70.
Daily Trading Signals
Daily Market Commentary
Updated Wednesday, 2/28 for Thursday's market.
|
Key DOW Levels for 3/1
|
|
UP
|
Above 12,350
|
|
DN
|
Below 12,075
|
Holding...
- Dow pulls back from lows, trades sideways throughout session.
The index eventually closed with a 52 point gain and is now winding up within a
tight consolidation that has formed at the lows of the major sell-off. Look for
a breakout from this range for the next key move..
- The NASDAQ and S&P each traded sideways throughout the session and look
to be gearing up for the next directional move. Watch for a breakout from their
respective ranges tomorrow.
Summary
The Dow closed the day with a modest gain after yesterday's huge decline, but
continues to wind up within a tight pattern that could offer another big move.
Look for continued range movement until a solid breakout is seen.
Read More...
