Friday, March 09, 2007

 
Technical Indicators

Ease of Movement

The Ease of Movement Indicator was designed to illustrate the relationship between volume and price change. It shows how much volume is required to move prices.

High Ease of Movement values occur when prices are moving upward with light volume. Low values occur when prices are moving downward on light volume. If prices are not moving or if heavy volume is required to move prices then the indicator will read near zero.

A buy signal is produced when it crosses above zero (an indication that prices are more easily moving upward ). A sell signal is produced when the indicator crosses below zero (prices are moving downward more easily)...

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Trading Ideas & Picks

RIMM - Volume is Drying Up

RIMM - Volume is drying up as this stock comes down to the lower trendline area. This stock has earnings due out in 4 weeks and it would be great to see this surf this channel until then...

Trading Ideas - Read More

 
NASDAQ Chart of the Day
Courtesy of Nirvana Systems




NTGR looks to have topped out at highs and has formed a clear support level at 25.00, which could also be the neck line of a large head-and-shoulders pattern. Watch 25.00 for key weakness ahead, unless 28.00 is taken out.

Daily Trading Signals

 
NYSE Chart of the Day
Courtesy of Nirvana Systems




EQT is winding up within the boundaries of a large triangle range that has formed at the overall highs. Watch for a breakout from this range for clear movement ahead: 41.00 down, 44.70 up.

Daily Trading Signals

 
Daily Market Commentary
Courtesy of Nirvana Systems

Updated Thursday, 3/8 for Friday's market.

Key DOW Levels for 3/9

UP

Above 12,325

DN

Below 12,150


Resistance Holds...

- Dow rallies up to key resistance, but slides to the Close. The index closed the day with a solid 68 point gain, but continues to hold beneath key resistance, which could be a precursor to selling ahead.

- The NASDAQ and S&P each traded lower off key resistance today, which could forecast more weakness ahead. Watch this fulcrum closely tomorrow.

Summary

The Dow ended the day with a clear reaction away from the 12,300 level today, which indicates this resistance level could give us more problems. If the Dow cannot rise above this zone, we could see another wave lower within the clear trading range..

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Thursday, March 08, 2007

 

2007 trading strategies @Profits Run

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"How to Successfully Navigate the Markets in 2007 & Beyond"


 
Trading Ideas & Picks

Northern Trust Corp - NTRS - Testing the support

NTRS: The stock is in the process of testing the support of an ascending trendline. Technical traders will use a break below $58.50 to signal a move toward the swing low near $56.50...

Trading Picks - Read More

 
Trading Ideas & Picks

Swing Trade of the Week

MOLX: Stock surged down to the bottom of 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 28.09...

Trading Ideas - Read More

 

Quantum Swing Trader
Exclusive Preview


 
Daily Market Commentary
Courtesy of Nirvana Systems

Updated Wednesday, 3/7 for Thursday's market.

Key DOW Levels for 3/8

UP

Above 12,300

DN

Below 12,025


Holding Gains...

- Dow reverses from early lows, maintains two-day gains. If the index can continue to hold above support, we could see more strength ahead.

- The NASDAQ and S&P each continue to hold near the overall highs of the recent two-day advance, which is positive. However, we could see more range movement unless resistance is clearly crossed.

Summary

The Dow closed the day off the day's highs, but continues to hold gains after rallying yesterday. Look for the index to continue to build out within the large trading range until a solid breakout occurs.

Read More...

Wednesday, March 07, 2007

 
Trading Ideas & Picks

AAPL - Numerous Upgrades Lifting Stock

AAPL - Numerous upgrades are lifting this stock in a tough market. Soon, this stock will have to move and if it moves up above the descending trendline at $89 on heavy volume, I would then consider a few of this stock. Or, I would sell short this stock if it moves below the horizontal trendline at $82.80...

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Trading Ideas & Picks

AAPL - Descending Trendline Could Force Stock Down

AAPL - This stock is hanging tough here, but the descending trendline could force this stock to undercut the lower horizontal trendline. I would consider shorting this stock if it moves below $83 on heavy volume...

Trading Picks - Read More

 
Trading Education Tutorial
Courtesy of Nirvana Systems

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.

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NASDAQ Chart of the Day
Courtesy of Nirvana Systems




ATPG has held at major support since last summer and looks poised for another bounce. Watch 38.00 up for strength.

Daily Trading Signals

 
NYSE Chart of the Day
Courtesy of Nirvana Systems




CLB is winding up within a very large triangle consolidation that could offer a solid breakout opportunity. Watch 84.00 up, and 74.00 down.

Daily Trading Signals

 
Daily Market Commentary

Updated Tuesday, 3/6 for Wednesday's market.

Key DOW Levels for 3/7

UP

Above 12,250

DN

Below 12,025


Steady Advance...

- Dow opens strong, finishes solidly higher after session-long uptrend. The index pushed above 12,175 and reached toward 12,225 before closing with a solid 157 point gain.

- The NASDAQ and S&P...

Summary

The Dow has bounced back nicely from key lows, but remains vulnerable. Look for more range movement before major direction is decided.

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Tuesday, March 06, 2007

 
Technical Indicators

Zig Zag

The Zig Zag indicator shows past performance trends and only the most significant changes. It does this by filtering out any changes less than a specified amount.

The Zig Zag indicator is used primarily to help you see changes by highlighting the most significant reversals. Understand that the last segment in a Zig Zag chart can change based on changes in the underlying plot, price being only one example. That is, a change in a security's price can change a previous value of the indicator. Since the Zig Zag indicator adjusts its values based on subsequent changes, it has perfect hindsight into what prices have done. Do not try to create a trading system based on the Zig Zag indicator, as it to be used to illustrate historical patterns.

The Zig Zag indicator is calculated by placing imaginary points on a chart when prices reverse by at least the specified amount. Straight lines are then drawn to connect these imaginary points. Any changes in prices that are less than the specified amount are ignored.

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Trading Education Tutorial

Volume Climax




Volume Helps Identify Reversals

Various price patterns can alert us to potential reversal candidates. Trendline Breaks, Support and Resistance Levels, Fibonacci Retracement Levels and other price information are valuable in determining a change in direction for a security. However, one of the most overlooked chart patterns that help us determine reversals is not reflected in the price itself. Volume climaxes are easily identifiable and valuable in assessing a change in market sentiment.

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NASDAQ Chart of the Day




HIMX is winding up within a large triangle pattern that could offer a solid breakout opportunity. Watch this pattern for key movement.

Daily Trading Signals

 
NYSE Chart of the Day




OMG has broken a major lower trend line at 47.00, which is highly bearish given the major uptrend that was violated. Look for more weakness beneath this zone.

Daily Trading Signals

 
Daily Market Commentary

Updated Monday, 3/5 for Tuesday's market.

Key DOW Levels for 3/6

UP

Above 12,200

DN

Below 12,050


Sideways Day...

- Dow trades mostly sideways throughout the session, holds at critical support. The index eventually closed the day with a 64 point loss and is now holding at critical support at 12,050.

- The NASDAQ and S&P each traded back and forth throughout the session today, followed by heavy selling to the Close. Look to support for the next key move tomorrow.

Summary

The Dow closed the day with a loss after reversing sharply from the day's highs under 12,200. The index is now sitting on critical support at 12,050, which is the major line in the sand to watch for key directional movement.

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Monday, March 05, 2007

 
Trading Ideas & Picks

Weekly Swing Ideas Report for March 5th - March 9th

Stock Picks - Long and Short Potential Swing Candidates ... SwingTracker Scans: Trading Window, Force Swings (AGR Agere Systems, RSH RadioShack Corp, STN Station Casinos, OATS Wild Oats Markets, JAKK JAKKS Pacific), Triangle (AGR Agere Systems, RSH RadioShack Corp, KG King Pharmaceuticals, OI Owens-Illinois, STN Station Casinos), Revival, Reversals (INT World Fuel Services, TSAI Transaction Sys Architects), and more...

Trading Ideas - Read More

 
Trading Ideas & Picks

The QQQQ Report for March 5th - March 9th

QQQQ: Bounce off the resistance proved to the bulls that the $45.50 level was stronger than most orignally thought. Attempt to recover the losses and push the QQQQ back above the 100 DMA proved unsuccessful and it will be interesting to see how the market reacts to the spiked volatility as traders discern the short-term direction of the index...

Trading Picks - Read More

 
Trading Education Tutorial

Saucer Patterns





Rare Pattern Is One of the Most Predictive

One of the most predicitive chart patterns you will come across is the saucer pattern. Saucers are also referred to as "bowls" or even "rounded tops or bottoms", and one look at this pattern tells where these names are derived from. However, there is a problem with saucer patterns - they're hard to find.

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NASDAQ Chart of the Day




REGN is testing a major support level at 18.95, which could be highly bearish. Look for weakness away from this support level next week.

Daily Trading Signals

 
NYSE Chart of the Day




SSI is testing the bottom of a clear triangle pattern at 21.20. This pattern has developed over the course of the last four months and could offer an explosive breakout move.

Daily Trading Signals

 
NYSE Chart of the Day




SSI is testing the bottom of a clear triangle pattern at 21.20. This pattern has developed over the course of the last four months and could offer an explosive breakout move.

Daily Trading Signals

 
Daily Market Commentary

Updated Friday, 3/2 for Monday's market.

Key DOW Levels for 3/5

UP

Above 12,250

DN

Below 12,050


Steady Decline...

- Dow trends steadily lower to Close, holds at key 12,100 zone. The index closed the day near the lows of the prior two bounces at 12,100, but continues to hold these levels, which is modestly bullish. However, once a breakdown occurs, we could see heavy selling pressure once again...

- The NASDAQ and S&P each trended down throughout the day and are currently holding just above key lows. Watch these support levels for direction next week.

Summary

The Dow closed the day within a steady downtrend today, but continues to hold critical support levels at 12,100. Again, we could see the index continue to build out a range from 12,050 to 12,350 before another big move is seen, but a breakout from this range could be big.

Read More...

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