Thursday, September 14, 2006
NASDAQ Chart of the Day
ENER
has reversed from the bottom of a clear triangle consolidation and has gotten a
big upside break through the top of the pattern at 36.00 via a breakaway gap,
which is highly bullish. Look for continued strength out of this pattern.
Daily Trading Signals
NYSE Chart of the Day
PG
has gotten a bearish reaction to key resistance at 62.40, which has held since
March. Look for a sizeable retracement to occur from this level if 62.40 is not
crossed to the upside.
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
Triangles
Tightening Price Action Leads to a Breakout
There are various forms of consolidation and they occur anytime
there is an equilibrium of buyers and sellers. One of the most predictive
consolidation formations is the triangle.
Read
More...
Daily Market Commentary
Updated Wednesday, 9/13 for Thursday's market
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Key DOW Levels for 9/14
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UP
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Above 11,575
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DN
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Current Trend
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Continued Strength
- Dow continues steady advance, closes near highs. The index has
now run 147 points after breaking out of the triangle yesterday, but still
needs to hit 11,650 before the target is reached.
- The NASDAQ and S&P each held gains today, but the tech-heavy index was
much more reluctant to rally like the Dow and S&P. Look for a breakout from
a continuation pattern to indicate that further strength is likely.
Summary
The Dow closed the day with another solid gain and continues to extend gains
out of the triangle. Look for a continuation pattern to form en route to the
potential target of 11,650. The index should continue to be highly bullish
above 11,500.
Read More...
