Wednesday, April 04, 2007

 
Trading Education Tutorial
Courtesy of Nirvana Systems

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
Courtesy of Nirvana Systems




ECIL has built out a large triangle pattern that is approaching the apex, which indicates a potential breakout may occur soon. A breakout from this large pattern could make for a big 5 point move in the direction of the break. Watch 8.80 up and 7.40 down for a breakout from this range.

Daily Trading Signals

 
NYSE Chart of the Day
Courtesy of Nirvana Systems




DDR has built out a large head-and-shoulders pattern at the highs of a major advance that began last Summer. Typically, this is a highly bearish pattern that could lead to heavy selling if the neck line (support) is broken at 61.50. However, if this support level holds, we could see another test at recent February highs.

Daily Trading Signals

 
Daily Market Commentary
Courtesy of Nirvana Systems

Updated Tuesday, 4/3 for Wednesday's market.

Key DOW Levels for 4/4

UP

Above 12,550

DN

Below 12,300


Breakout & Rally...

- Dow breaks through top of channel, rallies for 128 point gain. The indexindex closed the day right at prior resistance at 12,510, but could very well continue pushing higher.

- The NASDAQ and S&P each broke clear channels to the upside en route to big strength today. Each is holding at clear resistance, which we will watch for near-term direction tomorrow.

Summary

The Dow closed the day near the highs of the session after breaking a clear consolidation range and channel to the upside at 12,400. The index should remain strong in the medium term, but could pull back slightly from today's highs, as it builds out a potential continuation pattern.

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Trading Education Tutorial
Courtesy of Nirvana Systems

Trading Ranges




Big Moves Occur Outside of the Range

A trading range is basically a horizontal channel in which a security moves from the high and low of the channel for an extended amount of time. Obviously, the upper level of the range can be considered resistance and the lower level represents support. Trading within a range is possible, but it's the breakout from the range that provides the best opportunities.

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NASDAQ Chart of the Day
Courtesy of Nirvana Systems




ACTU is winding up within a large triangle pattern that could spark big movement upon a breakout. Watch 5.50 for early signs of big strength.

Daily Trading Signals

 
NYSE Chart of the Day
Courtesy of Nirvana Systems




WFT is holding right at clear resistance at 47.00, which has held for several months now. Watch for another key decline from this zone if 47.00 cannot be crossed and held. Otherwise, an upside break could offer big strength ahead.

Daily Trading Signals

 
Daily Market Commentary
Courtesy of Nirvana Systems

Updated Monday, 4/2 for Tuesday's market.

Key DOW Levels for 4/3

UP

Above 12,400

DN

Below 12,225


Winding Up...

- Dow trades sideways within larger range, continues to wind ahead of potential move. The index closed the day near the session's highs for 28 points, but continues to wind up for a much bigger move ahead.

- The NASDAQ and S&P pushed slowly higher late in the day, but continue to build out within clear ranges. Watch for more range movement until a solid breakout occurs.

Summary

The Dow closed the day near the highs of the session after pushing slowly higher from the day's lows. The index continues to wind up within the clear consolidation range, which could spark big movement upon a break.

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Monday, April 02, 2007

 

Trading Signals of the Day


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

The QQQQ Report for April 2nd - April 6th - Unable to Break Above $44.50

QQQQ: The short-term resistance was found near the bottom of the gap, near $44.50. This resistance proved to be too much for the bulls to handle, and the bears took control again, sending the price back below the 100-day moving average...

Trading Picks - Read More

 
Trading Ideas & Picks

Weekly Swing Ideas Report for April 2nd - April 6th

Stock Picks - Long and Short Potential Swing Candidates ... SwingTracker Scans: Trading Window, Force Swings (DELL Dell Inc, ORCL Oracle Corp, SNDK SanDisk Corp, RRI Reliant Energy, CC Circuit City Stores), Triangle (HST Host Hotels & Resorts, BTU Peabody Energy, SII Smith Intl, BMET Biomet Inc, PDE Pride Intl), Revival, Reversals (INFY Infosys Technologies ADS, CECE Ceco Environmental, DCP DynCorp IntlA), and more...

Trading Ideas - Read More

 
Trading Education Tutorial
Courtesy of Nirvana Systems

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
Courtesy of Nirvana Systems




FCFS is winding up within a very clear triangle pattern that could offer an excellent breakout opportunity. Watch 21.20 for a downside break, and 22.60 for an upside break next week.

Daily Trading Signals

 
NYSE Chart of the Day
Courtesy of Nirvana Systems




NUE has had a lot of trouble in the 67.00 range since last December, as the stock has really formed a very clear resistance level at this zone. Watch this level for a clear break or bounce for the next big move.

Daily Trading Signals

 
Daily Market Commentary
Courtesy of Nirvana Systems

Updated Friday, 3/30 for Monday's market.

Key DOW Levels for 4/2

UP

Above 12,400

DN

Below 12,225


Bullish Flag...

- Dow increases in volatility, remains within highly bullish flag. The index eventually closed the session with a modest 6 point gain and is now building out within a highly bullish flag consolidation.

- The NASDAQ and S&P each had wild swings throughout the day, sparking nice movement to the Close. Each index is now winding up within clear range that could offer a potentially big breakout move Monday.

Summary

The Dow closed the day barely above the breakeven point after swinging both ways throughout the day. The index is clearly winding up within a potentially powerful range that could offer big breakout movement next week. Watch 12,400 and 12,225.

Read More...

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