Thursday, September 28, 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
Trading Ideas &
Picks
Swing
Trade of the Week
SIRF:
Setting up nicely for a continuation of its current downtrend. Stock broke
through support of a recent sideways trading range, and has since consolidatet
creating a possible setup for further downside. Look to go short at...
Trading
Picks - Read More
Technical Indicators
Ultimate Oscillator
Developed by Larry Williams, the Ultimate Oscillator combines a
stock's price action during three different time frames into one bounded
oscillator. The three time frames represent short, intermediate, and long term
market cycles (7, 14, & 28-period). Note that these time periods all
overlap, the 28-period time frame includes both the 14-period time frame and
the 7-period time frame. This means that the action of the shortest time frame
is included in the calculation three times and has a magnified impact on the
results.
It is expressed as a single line plotted on a vertical range valued between 0
and 100, with oversold territory below 30 and overbought territory above 70...
Read More...
Trading Ideas &
Picks
HUI -
toward the neckline of the pattern
HUI:
Long-term head and shoulders pattern was forming on the weekly chart of the
Gold Bugs Index. The price has fallen from $347 down toward the neckline of the
pattern...
Trading
Picks - Read More
DELL -
above the resistance of a descending trendline
DELL:
move higher sent the price above the resistance of a descending trendline. The
advance above the dotted resistance may suggest that the selling preassure
we've seen over the last twelve months is decreasing...
Trading
Picks - Read More
Trading Ideas &
Picks
Market
Update
At this point, our poor NDX is being dragged by the nose. No one
wants to be short when the INDU breaks its highs. CNBC will throw a big party
and the tide will probably raise all boats. I think that is what people are
afraid of now and the reason for the market acting weird...
Trading Ideas -
Read More
Trading Ideas &
Picks
S
& P 500 - Keep an Eye on Rising Wedge
SPX:
A break into new highs on this index is good, as is the close near the high of
the day. Hopefully the Rising Wedge that you see here does not play a role as a
break above the Wedge is a technical sell...
Trading
Ideas - Read More
NASDAQ Chart of the Day
AVID has taken a huge breakaway gap
down on high volume, which could lead to huge selling ahead. Look for continued
overall weakness from this stock so long as it continues to hold beneath 40.00.
Daily Trading Signals
NYSE Chart of the Day
F has formed a highly bearish head-and-shoulders pattern that could send
the stock back toward the summer's lows. A downside break through the neck line
at 7.60 could lead to huge selling. Otherwise, watch 8.60 for another shot at
strength.
Daily Trading Signals
Daily Market Commentary
Updated Wednesday, 9/27 for Thursday's market
|
Key DOW Levels for 9/28
|
|
UP
|
Above 11,750
|
|
DN
|
Below 11,650
|
Holding...
- Dow closes at multi-year highs, holds firmly above 11,650. The
index basically held its ground throughout the session and tacked on 22 points
by the end of the day.
- The NASDAQ was a bit reserved today, while the S&P mirrored the Dow's
gains to the Close. Each index continues to push steadily higher, but could use
the help of a continuation pattern.
Summary
The Dow ended the day with a quiet gain today, but was able to hold on to
recent overall gains and remain above 11,650. Look for the index to continue to
build out at the highs, as it builds toward its next breakout move.
Read More...
Trading Education
Tutorial
Island
Reversals
Stand Alone Formation Speaks Volumes
Reversals tend to occur slowly, with securities forming double
bottoms, higher lows, head and shoulders patterns, etc. before starting a new
trend. However, sometimes we see a dramatic reversal immediately, and one of
the best indications of these types of reversals is Island Tops and Bottoms.
Read
More...
