Thursday, April 13, 2006

 
Daily Market Commentary

Updated Wednesday, 4/12 for Thursday's market.

Key DOW Levels for 4/13

UP

Above 11,150

DN

Below 11,050

Holding..
- Dow advances at Open, holds gains to the Close.
- NASDAQ and S&P each traded mostly sideways-to-up today, but really didn't move much of anywhere. Look for a larger consolidation to build out as direction is established. ...Read More

 
NASDAQ Chart of the Day

BBBY has formed and exhaustion gap that is currently being filled. This pattern indicates that much more weakness could lie ahead, especially if 38.50 is taken out.

Daily Trading Signals

 
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Wednesday, April 12, 2006

 
Daily Market Commentary

Updated Tuesday, 4/11 for Wednesday's market.

Key DOW Levels for 4/12

UP

Above 11,125

DN

Below 11,050


Break at 11,100
- Dow drops at Open, breaks through 11,100 support
- NASDAQ and S&P each violated key support levels en route to steady selling. Look for some kind of continuation pattern to form to indicate that more selling could be seen.
...Read More

Tuesday, April 11, 2006

 
Chart of the Week

Stochastic Reversal and MACD Crossover

BCRX exhibited bullish MACD and stochastic signals when the stock rose on high volume Monday. The stock is now near resistance from the upper trend-line of the falling channel. Read More


 
Voodoo Trading
Voodoo trading could add a lot to your bottom line. W.D. Gann, R.N. Elliott and other cultists spent years studying the market's mystical side, trying to figure out how obscure ideas could tap hidden profits. Magic numbers, astrological dates and prayer wheels have all been enlisted in the search for that elusive trading edge. Read More...

 
Daily Market Commentary

Updated Monday, 4/10 for Tuesday's market.

Key DOW Levels for 4/11

UP

Above 11,275

DN

Below 11,100

Holding Above 11,100
Dow trades quietly, holds firmly above 11,100.
NASDAQ traded slowly lower, while the S&P held its ground. Each index continues to walk the line around support. ...Read More

Monday, April 10, 2006

 
Weekly Market Update
As we talked about on Friday, the 1750 proved to be mighty resistance for the NDX on Friday. It gapped up in what we call and exhaustion gap and then pulled back ... Read More

 
Daily Market Commentary

Updated Friday, 4/7 for Monday's market.

Key DOW Levels for 4/10

UP

Above 11,275

DN

Below 11,100

Pop and Drop
Dow rallies at Open, but sells off sharply from highs en route to major decline.
NASDAQ broke a clear lower trend line that led the index back to major resistance, while the S&P really took it on the chin after reaching new highs. Each index is currently holding above support levels, which could determine the next key move. ...Read More


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