Friday, September 08, 2006
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...."
Read More...
NASDAQ Chart of the Day
EBAY
has trended steadily lower beneath a major upper trend line that has formed
across the highs since January. The index is currently showing weakness from
this line at 29.00, which could lead to another steady decline from this third
touch. Watch for weakness away from this line, unless 29.00 is solidly broken
to the upside.
Daily Trading Signals
NYSE Chart of the Day
NEM is getting a big downside break out a tightly-wound triangle range
via a breakaway gap, which is quiet bearish. Look for continued weakness out of
this range ahead.
Daily Trading Signals
Bullish Reversal Triggers
Reversal bars
are an objective technique used to time the entry of a trade. Read More... http://daily-stocks.netfirms.com/daily-trading-triggers.htm
Trading Education
Tutorial
Moving Averages and the Trend
Moving Averages Help Us Identify Trend Reversals
One of the old axioms of technical analysis is that 'the trend is
your friend'. This holds true, as long as you trade in the direction of the
trend. However, your 'friend' has two faces, and can turn on you to eliminate
profits (and your friendship!). Trend reversals can occur at any time and one
of the important skills a trader must possess is the ability to identify a
reversal. It is easy to exit a position too early if we over-anticipate a trend
reversal, and just as easy to watch our profits evaporate if we are too slow to
exit the trade.
Read
More...
Daily Market Commentary
Updated Thursday, 9/7 for Friday's market
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Key DOW Levels for 9/8
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UP
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Above 11,400
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DN
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Below 11,300
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Lower High
- Dow pulls back to 11,400 and then drops to new lows. The index
later rallied from lows, but halted the advance just below 11,400 before
falling to new lows to the Close, ending the day down by 75 points.
- The NASDAQ and S&P each sold off early, followed by late-day weakness.
Look for each to continue to push lower in the medium term, especially if
today's highs are not breached.
Summary
The Dow closed the day with a solid loss after breaking a key lower trend line
and forming a lower high in the process. Much more weakness could be ahead,
especially if 11,300 is solidly crossed. Watch 11,400 for early signs of
strength.
Read More...
