Tuesday, September 12, 2006
NASDAQ Chart of the Day
ADSK
is winding up within the boundaries of a large triangle range, which we will
watch closely for a huge breakout opportunity. Watch 31.50 down, and 35.00 up
for the breakout.
Daily Trading Signals
NYSE Chart of the Day
A
has formed a tight consolidation beneath key resistance from 30.30 to 32.35,
which we will watch for a solid breakout. An upside break through the top of
the consolidation and through resistance could spark a solid advance, but also
watch 30.30 for signs of another test at recent lows.
Daily Trading Signals
Trading Education
Tutorial
Support and Resistance Levels
History Tells Us When Securites are Overbought or Oversold
Support indicates a level on the chart where we can expect an
increase in the demand for a security (buyers take over). How do we know this?
By identifying this reaction to this price level in the chart's history.
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Daily Market Commentary
Updated Monday, 9/11 for Tuesday's market
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Key DOW Levels for 9/12
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UP
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Above 11,425
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DN
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Below 11,340
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Winding Up
- Dow reverses from early lows to develop large triangle range.
The index came close to getting a solid breakout at 11,425, but reversed from
the day's highs to complete a large triangle range that we will watch for key
medium term direction.
- The NASDAQ and S&P each reversed from early lows today to recover gains
for the session. Each index continues to wind up within a highly explosive
pattern, which we will continue to watch for a big breakout.
Summary
The Dow closed the day winding up within the boundaries of a large triangle
range, which we will watch to watch closely for the next big breakout move.
Watch 11,425 and 11,340 for a solid breakout.
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