Friday, September 22, 2006
Trading Ideas &
Picks
PD - in
the process of testing a 13-month trendline
PD:
Stock is in the process of testing a 13-month trendline. The ascending
trendline has prevented the price from heading lower in the past and it will be
interesting to see if this time will be any different...
Trading
Picks - Read More
Trading Ideas &
Picks
ICE -
Might Try To Turn Up!
ICE:
This stock might try to turn up at anytime and if it does then this would
create a nice looking Bull Flag. Buy point is when the stock clears the upper
trendline...
Trading
Ideas - Read More
Daily Market Commentary
Updated Thursday, 9/21 for Friday's market
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Key DOW Levels for 9/22
|
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UP
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Above 11,650
|
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DN
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Below 11,475
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Steady Sell-Off
- Dow breaks consolidation to downside, drops hard to the Close.
The break led to a steady sell-off away from the 11,600 level and eventually
left the Dow with an 80 point loss.
- The NASDAQ and S&P each pulled back from early highs and proceeded
steadily lower upon breaking down from a clear range. Look for each to continue
to push back toward prior support.
Summary
The Dow closed the day with a big loss after breaking a tight consolidation to
the downside early in the day. The index is now holding just above a clear
lower trend line that we will watch closely for big medium term movement. Watch
11,500 closely tomorrow..
Read More...
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...
