Thursday, May 17, 2007
Technical Indicators
Price Volume Rank
Price Volume Rank is a simple analysis developed by Anthony Macek
using just two sets of data, Price and Volume.
Macek describes the indicator as, "for those with neither the time nor the
inclination to master the techniques necessary to monitor every blip and
sputter that the market produces...."
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Trading Education
Tutorial
Courtesy of
Nirvana Systems
Trendlines
Determining Market Reversals and Continuations
Trendlines are perhaps the oldest tools known to chartists.
Trendlines form across peaks and valleys called pivot points - relative highs
and lows in a chart. As more points form along a line, it becomes more
"established". This means that, when the line is broken, it will
likely follow through with a strong move in the new direction.
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NASDAQ Chart of the Day
Courtesy
of Nirvana Systems
SPNC
is sitting right at critical support at 9.50, which has held easily for about a
year. A big break through this support level could spark key weakness. Watch
9.50 for a solid break or bounce.
Daily Trading Signals
NYSE Chart of the Day
Courtesy
of Nirvana Systems
DDR
has formed a massive head-and-shoulders pattern that is finally approaching the
neck line (support) of the pattern at 61.40. A break of this level could spark
a huge decline, likely back toward the low 50's.
Daily Trading Signals
Daily Market Commentary
Courtesy of
Nirvana Systems
Updated Wednesday, 5/16 for Thursday's market.
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Key DOW Levels for 5/17
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UP
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Above 13,600
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DN
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Below 13,350
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Reversal from Lows...
- Dow rallies from lows yet again, sets new highs. The index
closed the day with a solid 104 point gain and another new record close and
remains highly bullish.
- The NASDAQ and S&P each rallied late in the day after early weakness. The
S&P continues to test highs, but the NASDAQ is clearly lagging. Watch the
NASDAQ for key directional clues.
Read More...
Trading Education
Tutorial
Courtesy of
Nirvana Systems
Consolidations
Sideways Movement Gives Indication of Future Price Direction
A consolidation is a place where buyers and sellers are very closely
matched in numbers. As the battle ensues, others notice that the market is
consolidating, and begin considering to get on board. As soon as a break from
the consolidation occurs, the latent buyers or sellers usually begin taking
positions.
Read
More...
