Friday, March 16, 2007
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
Technical Indicators
McClellan
Oscillator
Based on the smoothed difference between the number of advancing and declining
issues on the New York Stock Exchange, similar to MACD, the McClellan
Oscillator is a breadth indicator that uses advances and declines to determine
the amount of participation in the movement of the stock market. One sign of a
healthy bull market is a large number of stocks making moderate upward advances
in price. A small number of stocks making large advances in price is a sign of
a weakening bull market. This situation gives the false appearance that all is
well and is the type of divergence that often signals an end to a bull market.
Read More...
Recent Picks / Trading Ideas
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ABK - Rising wedge formation March 15
Stock moved below the support of the ascending trendline on very heavy
volume. Watch for a move back toward breakdown low near $83.50 ...
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Swing Trade of the Week March 15
IBM: Stock ended a nice MA uptrend with a crossover down and is now on a
countertrend move. Look to go short at 94.89 or higher to take advantage of
this rally in overall downtrend. ...
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Swing Trade of the Week March 1
CRDN: Stock surged down through a support area, then traded at the lower end,
representing a consolidation and possible setup for further downside. Look to
go short at 50.62 ...
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BJ - Beak out of Trading range Feb 22
Stock broke out of its confined trading range, suggesting the end of its
sideways momentum. The 52-week high has put an end to consolidation and
traders will watch for a move higher ...
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Monthly Market Recap February 1
The Macro weekly uptrend is still bullish, the uptrend is intact. The longer
term trend is up, but the market is very susceptible for possible near term
corrections. ...
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A Year of Transition Jan 4
Gann Global Financial - This year should be a transitional with 2 major
financial events ...
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Trading Education
Tutorial
Courtesy of
Nirvana Systems
Volume Climax
Volume Helps
Identify Reversals
Various price patterns can alert us to potential reversal
candidates. Trendline Breaks, Support and Resistance Levels, Fibonacci
Retracement Levels and other price information are valuable in determining a
change in direction for a security. However, one of the most overlooked chart
patterns that help us determine reversals is not reflected in the price itself.
Volume climaxes are easily identifiable and valuable in assessing a change in
market sentiment.
Read More...
NASDAQ Chart of the Day
Courtesy
of Nirvana Systems
MEDI
got a big bounce off key support today at 30.40, which has held firmly since
November. Look for more strength above this support level moving forward,
especially if 33.00 is crossed and held.
Daily Trading Signals
NYSE Chart of the Day
Courtesy
of Nirvana Systems
ASF
is winding up within a clear consolidation that has formed at the lows of the
overall decline. A breakout in either direction from this pattern could spark
key movement. Watch 37.00 up and 35.00 down.
Daily Trading Signals
Daily Market Commentary
Courtesy of
Nirvana Systems
Updated Thursday, 3/15 for Friday's market.
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Key DOW Levels for 3/16
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UP
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Above 12,200
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DN
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Below 11,925
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Holding...
- Dow holds modest gains, builds out tight consolidation at highs.
The index held on to a 26 point gain and is now building out a tight
consolidation at the highs of yesterday's late-day rally, which could spark
more strength ahead tomorrow.
- The NASDAQ and S&P each traded quietly sideways throughout most of the
session as volatility dried up. However, we could see a nice breakout from
their respective ranges tomorrow.
Summary
The Dow opened the session strong today, but basically traded sideways the rest
of the session, building out a clear consolidation at the highs in the process.
This consolidation could offer additional strength tomorrow. Watch 12,200.
Read More..
