Friday, November 17, 2006
GannGlobal Financial
Recently, James Flanagan over at GannGlobal.com released part 4 of
his 4-part Forecasting video series. This latest 21 minute video reveals how
he's following the commodity markets, and where he thinksthey'll go in the near
future.
* * * Watch
the 21 minute video here (part 4 of 4) * * *
If you missed part 1, 2, or 3 you can watch them here:
Part 1 (Stock Market
Forecast)
Part 2 (Soybean
Forecast)
Part 3 (Crude
Oil Forecast)
Part 4
(Commodities: the big picture)
In this latest video, you'll see James use what he calls the
"Research Engine" to forecast the most probable direction of the
major commodity markets like Crude Oil, Gold, Silver and Grains based on the
historical research methods of trading legend W.D. Gann.
* * * Watch
the 21 minute video here * * *
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Global Financial
NYSE Chart of the Day
URS has
gotten a solid upside break through a key resistance level at 42.40, which is
quite bullish. Look for more strength above this zone.
Daily Trading Signals
NASDAQ Chart of the Day
TTMI has formed a clear triangle
consolidation, which has been winding up since August. A breakout from this
pattern could spark a huge move. Watch 11.00 down, and 13.00 up.
Daily Trading Signals
Trading Education Tutorial
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.
Read More...
Daily Market Commentary
Updated Thursday, 11/16 for Friday's market.
|
Key DOW Levels for 11/17
|
|
UP
|
Above 12,350
|
|
DN
|
Below 12,125
|
Continued Strength...
- Dow reverses from early lows, rallies solidly through 12,200.
The index peaked at 12,325 and eventually closed the day with a solid 54 point
gain, but looks poised to hit the triangle's target of 12,365 soon.
- The NASDAQ and S&P each traded sideways-to-up today, as clear patterns
are beginning to arrive. Watch near-term support tomorrow.
Summary
The Dow ended the day near the highs of the session after trending slowly
higher throughout the day. The index continues to push toward the key
consolidation target of 12,365, which could be hit tomorrow, but look for signs
of a potential pull-back from current highs, as the index could be
over-extended in the near term.
Read More...
