Tuesday, March 27, 2007
Trading Education
Tutorial
Courtesy of
Nirvana Systems
Measured and Exhaustion Gaps
Identifiable
Patterns After Confirmation Move
We have previously mentioned the three types of gaps that are of
relevance to investors - the breakaway gap, the measured (or continuation) gap,
and the exhaustion gap. We previously discussed the breakaway gap, but it is
important to discuss the measured gap and exhaustion gap at the same time. Why?
Because it is difficult to tell one from the other until after the fact.
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NASDAQ Chart of the Day
Courtesy
of Nirvana Systems
RATE
has built out a large head-and-shoulders pattern that has a clear neck line (support)
at 34.00. A break of this zone could really spark heavy selling back toward the
25.00 zone.
Daily Trading Signals
NYSE Chart of the Day
Courtesy
of Nirvana Systems
ABT
got a big breakout move out of a solid consolidation that has formed at the
highs of the overall advance. Today's breakout is highly bullish and could lead
to much more strength ahead.
Daily Trading Signals
Trading Ideas &
Picks
Weekly Market Recap March 19th - March
23rd
The longer term trend is down. The market surged above the 20 day
EMA today raising a slight red flag to the current downtrend. The short term
trend is sideways to up, which is confirmed with Daily prices above the 5 day
EMA and Stochastics in an uptrend. Despite this assessment, we do temper our
enthusiasm for any large moves to the upside due to the overall downtrending
Daily chart ...
Trading
Picks - Read More
Trading Ideas &
Picks
The QQQQ Report forMarch 26th - March
30th - February's Gap Is In Play
QQQQ: The bulls were able to push the index toward the bottom of the
gap, near $44.50. Many traders wonder whether the QQQQ will be able to overcome
this resistance. The chart below is a good example of the battle between the
bulls and the bears; so far, it doesn't seem like either party has an upper
hand...
Trading
Picks - Read More
Trading Ideas &
Picks
Weekly Swing Ideas Report for March
26th - March 30th
Stock Picks - Long and Short
Potential Swing Candidates ... SwingTracker Scans: Trading Window, Force Swings
(ODP Office Depot, KMX CarMax Inc, EXC Exelon Corp, DE Deere & Co, ZMH
Zimmer Holdings), Triangle (IWM iShares Russell 2000 Index Tr, JPM JPMorgan
Chase & Co, AMZN Amazon.com Inc, SMH Semiconductor HOLDRsTr, RSH RadioShack
Corp), Revival, Reverse (CBS CBS Corp B, SCSS Select Comfort, GDI Gardner
Denver), and more...
Trading
Ideas - Read More
Daily Market Commentary
Courtesy of
Nirvana Systems
Updated Monday, 3/26 for Tuesday's market.
|
Key DOW Levels for 3/27
|
|
UP
|
Above 12,525
|
|
DN
|
Below 12,350
|
Round Trip...
- Dow sells off sharply at Open, reverses slowly to the Close. The
index was able to hold its ground above the key 12,350 fulcrum and took a
double-bottom reversal back toward the day's open to end the session with a
relatively mild 12 point loss.
- The NASDAQ and S&P each recovered early losses today, but continue to
hold beneath key resistance. Watch these ranges closely for direction.
Summary
The Dow closed the day well off the day's lows, as the index did a solid job of
taking back early losses. The index is now bouncing around within the boundaries
of 12,350 and 12,500, which is the next key range to watch for key directional
movement.
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