Tuesday, September 26, 2006
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
NASDAQ Chart of the Day
FINL
is holding at the neck line of a large inverted head-and-shoulders pattern at
12.75. Watch for a break through this resistance level for big strength ahead.
Daily Trading Signals
NYSE Chart of the Day
CBK
is getting a solid upside break through key resistance at 30.00, which is
highly bullish following a measured gap. Look for more strength from this stock
ahead.
Daily Trading Signals
Technical Indicators
Percentage Volume
Oscillator (PVO)
The Percentage Volume Oscillator (PVO) is the percentage difference between two
moving averages of volume. Because of its formula, the PVO has a maximum value
of +100, but no minimum value. The absolute value is not as important as the
direction or the crosses above and below the zero line.
The PVO can be used to identify periods of expanding or contracting volume in
three different ways:
· Centerline Crossovers: ...
· Directional Movement: ...
· Moving average crossovers: ...
Movements in the PVO are completely separate from price movements. As such,
movements in PVO can correlated with price movements to assess the degree of
buying or selling pressure. Advances combined with strength in the PVO would be
considered strong. Should the PVO decline while a security's price fell, it
would indicate decreasing volume on the decline.
Read More...
Daily Market Commentary
Updated Monday, 9/25 for Tuesday's market
|
Key DOW Levels for 9/26
|
|
UP
|
Above 11,650
|
|
DN
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Below 11,470
|
Steady Advance
- Dow reverses from early lows, pushes steadily higher to the
Close. The index eventually closed the day with a solid 68 point gain, but
continues to hold within a very large trading range that we will continue to
monitor.
- The NASDAQ and S&P each rallied sharply from early lows and are now testing
key resistance levels. Look for a continuation pattern to indicate that
continued strength is likely.
Summary
The Dow ended the day with a solid rally after bouncing near key support early
in the day. The index continues to build out within the boundaries of a large
trading range, which we will continue to watch closely.
Read More...
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...
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