Thursday, March 01, 2007
Quantum Swing Trader
Exclusive Preview
Trading Ideas & Picks
Trading Ideas - Read More
CRDN: Stock surged down through a support area, then traded at the lower end of the bearish colored candle, representing a consolidation and possible setup for further downside. Look to go short at 50.62...
Trading Ideas & Picks
Trading Picks - Read More
ACE: The bears have pushed the stock below an interesting level of support. The $56.50 level has propped up the price over the past six months, but the recent move below suggests that the selling pressure could continue...
Trading Education Tutorial
Moving Averages and the Trend
Moving Averages Help Us Identify Trend Reversals
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Moving Averages and the Trend
Moving Averages Help Us Identify Trend Reversals
TOne 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.
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NASDAQ Chart of the Day
Daily Trading Signals
BRCD is holding at major resistance, which has remained in tact since last Fall. Look for a break below 8.80 for confirmed weakness.
Daily Trading Signals
NYSE Chart of the Day
Daily Trading Signals
ACN has broken a major lower trend line to the downside at 37.70, which is highly bearish after the major uptrend it has enjoyed. Look for more weakness beneath 37.70.
Daily Trading Signals
Daily Market Commentary
Updated Wednesday, 2/28 for Thursday's market.
Holding...
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Updated Wednesday, 2/28 for Thursday's market.
| Key DOW Levels for 3/1 | |
| UP | Above 12,350 |
| DN | Below 12,075 |
Holding...
- Dow pulls back from lows, trades sideways throughout session. The index eventually closed with a 52 point gain and is now winding up within a tight consolidation that has formed at the lows of the major sell-off. Look for a breakout from this range for the next key move..
- The NASDAQ and S&P each traded sideways throughout the session and look to be gearing up for the next directional move. Watch for a breakout from their respective ranges tomorrow.
Summary
The Dow closed the day with a modest gain after yesterday's huge decline, but continues to wind up within a tight pattern that could offer another big move. Look for continued range movement until a solid breakout is seen.
- The NASDAQ and S&P each traded sideways throughout the session and look to be gearing up for the next directional move. Watch for a breakout from their respective ranges tomorrow.
Summary
The Dow closed the day with a modest gain after yesterday's huge decline, but continues to wind up within a tight pattern that could offer another big move. Look for continued range movement until a solid breakout is seen.
Read More...
Wednesday, February 28, 2007
Technical Indicators
Commodity Selection Index (CSI)
Read More...As an indicator of momentum, the Commodity Selection Index, or CSI is designed to help select commodities suitable for short-term trading. Designed for short-term traders who can handle the risks associated with highly volatile markets, a high CSI rating indicates that the commodity has strong trending and volatility characteristics. These characteristics are brought out by the Directional Movement factor in the calculation - the volatility characteristic by the Average True Range factor.
CSI creator Welles Wilder describes his focus to trading commodities with high CSI values. As these commodities are highly volatile, they have the potential to make the quickest return in the shortest time...
CSI creator Welles Wilder describes his focus to trading commodities with high CSI values. As these commodities are highly volatile, they have the potential to make the quickest return in the shortest time...
Daily Stock Picks
Bottoming -
Feb 27 for Feb 28:
AKRX AVNR BKUNA LEND PRVT SHFL
(Stocks making a 52 WK low but closing higher than they opened)
Oversold Stocks -
Feb 27 for Feb 28:
CRGN CYBS SHOO
(Stocks closing higher than they opened, crossing up through their 25 Stochastic level, and on 150% + greater than average 6 month volume)
Volume Pop -
Feb 27 for Feb 28:
DSTI
(Volume Pop With High ADX & RSI)
More... Stock Picks Page #1
Bottoming -
Feb 27 for Feb 28:
AKRX AVNR BKUNA LEND PRVT SHFL
(Stocks making a 52 WK low but closing higher than they opened)
Oversold Stocks -
Feb 27 for Feb 28:
CRGN CYBS SHOO
(Stocks closing higher than they opened, crossing up through their 25 Stochastic level, and on 150% + greater than average 6 month volume)
Volume Pop -
Feb 27 for Feb 28:
DSTI
(Volume Pop With High ADX & RSI)
More... Stock Picks Page #1
Trading Education Tutorial
Trendline Breaks
When is a Trend Truly Broken?
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Trendline Breaks
When is a Trend Truly Broken?
The importance of trendlines cannot be overstated when it comes to technical analysis. We are told to trade with the primary trend, exit when the trend reverses, enter on trend reversals, and so on. Trends are easy enough to identify, but when is a trend actually broken?
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NASDAQ Chart of the Day
Daily Trading Signals
ASIA got a big double top reversal off the 8.80 level and then took a big breakaway gap to the downside through the major lower trend line at 8.00, which is highly bearish. Look for much more weakness ahead.
Daily Trading Signals
NYSE Chart of the Day
Daily Trading Signals
AV is breaking the neck line of a large head-and-shoulders pattern that has formed at the highs of the bullish rally that began last summer. Today's break at 12.30 could spark big weakness ahead.
Daily Trading Signals
Daily Market Commentary
Updated Tuesday, 2/27 for Wednesday's market.
Major Sell-Off...
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Updated Tuesday, 2/27 for Wednesday's market.
| Key DOW Levels for 2/28 | |
| UP | Above - None |
| DN | Below 12,075 |
Major Sell-Off...
- Dow sells off in panicked fashion, closes down 416 points. The index took out all of the year's gains and essentially dropped back to the levels not seen since the first of December - in one day! Today's vast weakness indicates that much more selling could be ahead.
- The NASDAQ and S&P each sold off heavily from start to finish today and closed in a highly bearish manner. Look for potential continuation patterns to build out ahead of the next key directional move.
Summary
The Dow closed the day very, very weak today, but could be headed much lower. Look for potential sideways movement to lead to more selling ahead, especially if the Dow remains beneath 12,350.
- The NASDAQ and S&P each sold off heavily from start to finish today and closed in a highly bearish manner. Look for potential continuation patterns to build out ahead of the next key directional move.
Summary
The Dow closed the day very, very weak today, but could be headed much lower. Look for potential sideways movement to lead to more selling ahead, especially if the Dow remains beneath 12,350.
Read More...
Tuesday, February 27, 2007
Trading Education Tutorial
Triangles
Tightening Price Action Leads to a Breakout
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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.
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NASDAQ Chart of the Day
Daily Trading Signals
CRDN took a big gap up this morning to key resistance at 62.00 and immediately began to fill it en route to big weakness. Watch for continued weakness from this stock.
Daily Trading Signals
NASDAQ Chart of the Day
Daily Trading Signals
CRDN took a big gap up this morning to key resistance at 62.00 and immediately began to fill it en route to big weakness. Watch for continued weakness from this stock.
Daily Trading Signals
NYSE Chart of the Day
Daily Trading Signals
CAL has formed a huge head-and-shoulders pattern at the highs of the overall rally that began last fall. A break through the neck line of the pattern at 40.00 could spark heavy selling ahead.
Daily Trading Signals
Daily Market Commentary
Updated Monday, 2/26 for Tuesday's market.
Steady Decline...
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Updated Monday, 2/26 for Tuesday's market.
| Key DOW Levels for 2/27 | |
| UP | Above 12,700 |
| DN | Below 12,600 |
Steady Decline...
- Dow bounces off 12,700, drops throughout the day. The index closed the day with a mild 15 point loss, and looks to be gearing up for the next big move.
- The NASDAQ and S&P each sold off heavily to begin the day today, but bounced nicely to the Close. Watch near-term support for directional clues tomorrow morning.
Summary
The Dow sold off steadily from the 12,700 today, but continues to hold above the major 12,600 support level, which is being held up by the major lower trend line. Watch this zone for big directional movement tomorrow.
- The NASDAQ and S&P each sold off heavily to begin the day today, but bounced nicely to the Close. Watch near-term support for directional clues tomorrow morning.
Summary
The Dow sold off steadily from the 12,700 today, but continues to hold above the major 12,600 support level, which is being held up by the major lower trend line. Watch this zone for big directional movement tomorrow.
Read More...
Monday, February 26, 2007
Trading Ideas & Picks
Trading Picks - Read More
QQQQ: Tthe past week was dominated by the bulls as they sent the QQQQ back toward its January highs of $45.50. It will be interesting to see whether the bulls will be able to push the index above this resistance and end the period of consolidation, or if the bears will extend Friday's loss and send the QQQQ back toward its 100-day moving average...
Trading Ideas & Picks
Weekly Swing Ideas Report for February 26th - March 2nd
Weekly Swing Ideas Report for February 26th - March 2nd
Stock Picks - Long and Short Potential Swing Candidates ... SwingTracker Scans: Trading Window, Force Swings (IWM, iShares Russell 2000 Index, WMT, Wal-Mart Stores, RIMM, Research in Motion, NTAP, Network Appliance, ONXX, ONYX Pharmaceuticals), Triangle (IWM, iShares Russell 2000 Index, TEX, Terex Corp, AG, AGCO Corp, FE, FirstEnergy Corp, KSU, Kansas City Southern), Revival, Reversals (NVEC, NVE Corp, TKLC, Tekelec, ACMR, A.C. Moore Arts & Crafts), and more...
Trading Ideas - Read More
Trading Education Tutorial
Double Tops and Bottoms
Waiting for the Setup to Complete Results in Profits
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Double Tops and Bottoms
Waiting for the Setup to Complete Results in Profits
There are various chart patterns that help us find good reversal candidates. Of the major reversal patterns, the double top or bottom is not only one of the most recognizable, but also one of the most predictive.
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NASDAQ Chart of the Day
Daily Trading Signals
HLTH has been trending steadily higher over the last few months, but has now taken a potential exhaustion gap and island reversal to the downside, which is quite bearish. Watch for a potential decline from these levels.
Daily Trading Signals
NYSE Chart of the Day
Daily Trading Signals
ORB is holding beneath major resistance at 20.25 and has put in a potential exhaustion gap at the highs, which is bearish. Watch for weakness beneath this resistance level, especially if 19.00 is taken out.
Daily Trading Signals
Daily Market Commentary
Updated Friday, 2/23 for Monday's market.
Slow Session...
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Updated Friday, 2/23 for Monday's market.
| Key DOW Levels for 2/26 | |
| UP | Above 12,700 |
| DN | Below 12,600 |
Slow Session...
- Dow trades slowly sideways, remains beneath 12,700. The index closed with a 39 point loss and ended the day quietly between the key 12,600 and 12,700 levels. If the index can remain above 12,600, there's a great chance at another new high.
- The NASDAQ and S&P each traded mostly lower today, but continue to hold above key near-term support. Look for each to continue to gear up for the approaching breakout move.
Summary
The Dow has gotten a steady, three-day pull-back from the all-time highs reached earlier in the week, which means we could be getting really for another ride higher soon. Watch for continued overall strength above 12,600 next week, especially if 12,700 is taken out with force.
- The NASDAQ and S&P each traded mostly lower today, but continue to hold above key near-term support. Look for each to continue to gear up for the approaching breakout move.
Summary
The Dow has gotten a steady, three-day pull-back from the all-time highs reached earlier in the week, which means we could be getting really for another ride higher soon. Watch for continued overall strength above 12,600 next week, especially if 12,700 is taken out with force.
Read More...
