Monday, October 30, 2006
Trading Ideas &
Picks
The QQQQ Report for October 30th -
November 3rd, 2006
QQQQ:
One point of interest is how the QQQQ has been unable to slip below the support
of the 15 DMA since it reversed the downtrend in mid August. We'd expect to see
the bulls continue to drive the QQQQ higher and will watch closely to see how
the $43 resistance will be able to affect the short-term direction of the
price...
Trading
Picks - Read More
Daily Stock Picks
Bottoming -
Oct 27 for Oct 30:
ANLY BLDR SAIA
(Stocks making a 52
WK low but closing higher than they opened)
Oversold Stocks -
Oct 27 for Oct 30:
IKAN SGMS
(Stocks closing
higher than they opened, crossing up through their 25 Stochastic level, and on
150% + greater than average 6 month volume)
Volume Pop -
Oct 27 for Oct 30:
ADSX ASTM CCUR COMS DENN IINT ZHNE
(Potential Bullish
Run: Volume Pop With High ADX & RSI)
More... Stock Picks Page #1
NASDAQ Chart of the Day
Daily Trading Signals
NYSE Chart of the Day
CVX
is holding firmly at key resistance at 68.50, which has held since late summer.
Watch this zone for a break or bounce for the next key move.
Daily Trading Signals
Trading Education
Tutorial
Breakaway Gaps
Pressure Helps Identify Movers
Gaps occur when there is a dramatic change in market conditions. They can occur
at the beginning of a trading session (i.e. most NASDAQ stocks) or even during
the session itself. There are three types of gaps that are of interest to us
when we analyze charts: breakaway, measured (also known as continuation) and
exhaustion gaps. Today we will discuss the breakaway gap.
Read
More...
Daily Market Commentary
Updated Friday, 10/27 for Monday's market.
|
Key DOW Levels for 10/30
|
|
UP
|
Above 12,200
|
|
DN
|
Below 12,050
|
Late-Day Sell-Off
- Dow sells off from highs to begin session, ends day with steep
decline. The index closed the day right at key support at 12,075 with a solid
73 point loss, but much more selling could be ahead.
- The NASDAQ and S&P each sold off sharply late in the day, led by the
tech-heavy index. Watch for potential continuation patterns to form to indicate
that more selling is likely.
Summary
The Dow closed the day at the lows of the session after getting a huge sell-off
late in the day. The index is now testing a major lower trend line at 12,075,
which could shed light on the next major directional move.
Read More...
