Friday, October 13, 2006
Trading
Tools
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NASDAQ Chart of the Day
COST
has gotten a big breakout move through a clear upper trend line via a breakaway
gap and increased volume at 51.00. Look for continued overall strength out of
this pattern.
Daily Trading Signals
NYSE Chart of the Day
FRK is getting a solid breakout
from a clear consolidation at 40.00, which is quite bullish. Look for continued
strength out of this pattern.
Daily Trading Signals
Technical Indicators
Demarker Indicator
Developed by Tom Demarker, the Demarker Indicator is an oscillator
which identifies risk areas for buying and selling. It is an attempt to
overcome the shortcomings of classical overbought / oversold indicators, making
price comparisons from one bar to the next and measuring the level of price
demand.
It is similar to the Demarker Range Expansion Index in that it identifies price
exhaustion that normally correspond with tops and bottoms. The x-axis ranges
from -100 to 100. Look for rises above 60 to indicate low risk and look for
areas below 40 to indicate high risk...
Read More...
Trading Education
Tutorial
Fibonacci Retracement Levels
Using
Retracement Levels in Your Trading
Leonardo Fibonacci da Pisa was a thirteenth century mathematician who (re)
discovered what is today known as the Fibonacci sequence. Adding 1+1 and then
continuing to add the sum to the previous number will arrive at this numerical
sequence. The sequence gives rise to the following numbers: 1, 1, 2, 3, 5, 8,
13, 21, 34, 55 and so on.
Read
More...
Daily Market Commentary
Updated Thursday, 10/12 for Friday's market's market
|
Key DOW Levels for 10/13
|
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UP
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Above 11,975
|
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DN
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Below 11,900
|
Solid Breakout
- Dow gets big breakout from consolidation range, rallies to the
Close. The index eventually closed the day with a solid 96 point gain, but
could be headed higher still.
- The NASDAQ and S&P each got solid breakouts from their respective
consolidations. Look for continued overall strength, especially should
continuation patterns form in the process.
Summary
The Dow closed out the day with a solid move higher to the Close to cap a
highly bullish breakout from the tightly-wound consolidation. Look for
continued overall strength to 12,050 in the near-term, especially if the Dow
continues to hold above 11,900.
Read More...
