Tuesday, August 21, 2007
| The brand NEW Universal Market Trader!
Stocks, Futures & Forex, both for Daytrades and Swing trades. | Fellow Swing Trader,
Today the fun begins.
Universal Market Trader 1.00pm Webcast Universal Market Trader 9.00pm Webcast
Up until now most of the juicy details have been kept under wraps regarding the much anticipated and imminent release of the Universal Market Trader.
I can tell you firsthand that NetPicks is receiving mountains of emails each and every day over the last week or so from truly excited and curious traders wanting to know more.
But so far, they haven't let out all the details.
How much will it cost?
Where and how can I get one?
How many will be available and how quickly will it sell out? Please take note that a sell out is assured (in their first private release they lasted less than 4 days.)
When can I own it?
Does it really work just as well for forex, futures and stocks...daytrading and swingtrading?
Can I ask my questions directly to the developers?
Next Tuesday, August 21, 2007 at either 1:00pm EST (New York time)/10:00am PST/5:00pm GMT or at 9:00pm EST/6:00pm PST/1:00am GMT NetPicks is holding a live tell all webcast that will address all of these questions and much more. You will see The Universal Market Trader in action and in greater detail than ever before. Plus you will hear direct from the developer himself, and be able to ask all of your questions live.
If you want to take your trading to a place it has never even been close to before, make the time and drop by. If you have read just a few of the testimonials posted, you should have a pretty good idea this may be a life changing event for you, just as it was for so many of our current owners when they attended nearly two months ago.
To register for the 1:00pm EST/10:00am PST/5:00pm GMT webinar please go here:
Universal Market Trader 1.00pm Webcast
To register for the 9:00pm EST/6:00pm PST/1:00am GMT webinar please go here:
Universal Market Trader 9.00pm Webcast
Also because of the demand, it is highly recommended you attend, as you will be able to pre-reserve your copy (with no commitment) live at the webcast, there will be no other chance to do this.
I can tell you all of NetPicks' previous releases sold out very quickly, and this time will be no different.
Mark next Tuesday down in your calendar, it is one webcast not to be missed. | |
Technical IndicatorsDemarker Indicator
Developed by Tom Demarker, the Demarker Indicator is an oscillator which identifies risk areas for buying and selling. It is an attempt to overcome the shortcomings of classical overbought / oversold indicators, making price comparisons from one bar to the next and measuring the level of price demand.
It is similar to the Demarker Range Expansion Index in that it identifies price exhaustion that normally correspond with tops and bottoms. The x-axis ranges from -100 to 100. Look for rises above 60 to indicate low risk and look for areas below 40 to indicate high risk...
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Trading Education Tutorial
Courtesy of Nirvana Systems
Consolidations
Sideways Movement Gives Indication of Future Price Direction
A consolidation is a place where buyers and sellers are very closely matched in numbers. As the battle ensues, others notice that the market is consolidating, and begin considering to get on board. As soon as a break from the consolidation occurs, the latent buyers or sellers usually begin taking positions.
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NASDAQ Chart of the Day
Courtesy of Nirvana Systems
ELNK found a nice double bottom support level at 5.90, which has served as a nice spring board higher. Watch for strength through 6.85 for signs that more buying pressure is likely.
Daily Trading Signals
NYSE Chart of the Day
Courtesy of Nirvana Systems
LEE has turned down off a clear upper trend line at 20.60 today, which implies more downtrending activity from this stock. If LEE cannot rise above 20.60, we could see more selling to new lows.
Daily Trading Signals
Daily Market Commentary
Courtesy of Nirvana Systems
Updated Monday, 8/20 for Tuesday's market.
| Key DOW Levels for 8/21
|
| UP | Above 13,200
|
| DN | None
|
Holding Ground...
- Dow trades quietly back and forth, holds within clear consolidation pattern. The Index continues to hold within a clear consolidation that happens to be the right should of a potentially bullish inverted head-and-shoulders pattern, which we will continue to follow.
- The NASDAQ and S&P closed the day near the highs of the session and continue to hold beneath clear resistance. Watch this zone closely for direction.
Summary
The Dow ended the day with a modest advance to the Close, but continues to sit beneath the 13,200 level. Watch this zone closely, as this fulcrum will likely spark the next key directional move.
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Monday, August 20, 2007
Technical IndicatorsAccumulation/Distribution LineThe Accumulation/Distribution Line was developed by Marc Chaikin to assess the cumulative flow of money into and out of a security. He decided to focus on the price action for a given period (day, week, month) and derived a formula to calculate a value based on the location of the close, relative to the range for the period. This is the "Close Location Value" or CLV. The CLV ranges from plus one to minus one with the center point at zero.
The signals for the Accumulation/Distribution Line are fairly straightforward and involve divergence or confirmation. A bullish signal is given when the Accumulation/Distribution Line forms a positive divergence. Be wary of weak positive divergences that fail to make higher reaction highs. A two-week positive divergence should be suspect. However, a multi-month positive divergence deserves serious attention...
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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 gotten a bullish reaction to the 50% Fibonacci Retracement level and could be headed to new highs. Yesterday's bullish tail followed by today's strength indicates we could see higher above the 10.00 range. Watch 9.40 for strength.
Daily Trading Signals
NYSE Chart of the Day
Courtesy of Nirvana Systems
ICE has reversed sharply from prior support at 120.00 and has formed two bullish tails in a row, which could offer another solid advance back toward prior highs. Look for strength above 136.00 for a shot at 160.00.
Daily Trading Signals
Daily Market Commentary
Courtesy of Nirvana Systems
Updated Friday, 8/17 for Monday's market.
| Key DOW Levels for 8/20
|
| UP | Above 13,200
|
| DN | None
|
Pop & Hold...
- Dow rallies toward 13,200 early, but trades sideways to the Close. As the highs of the day, the Dow had gained 290 points, which occurred in the first 15 minutes of the day. However, the index sold off shortly thereafter, but was climbed steadily into the Close to end the day with a big 233 point gain.
- The NASDAQ and S&P each rallied sharply at the Open, but halted the advance at their respective resistance levels. Watch these levels closely for signs of more strength ahead.
Summary
The Dow closed the day fairly quietly after the opening volatility. The index may have formed a bullish inverted H&S, which we will watch closely for signs of more strength.
Read More...
Rockwell Trading FREE Video (& Coaching!) We all want trading success. Whatever the reasons – retire comfortably, to quit a job, to buy a nicer home, to free up time for other work – whatever our reasons, we want consistent, profitable trading results.
Justin is just one of the traders who joined Rockwell Trading's coaching program and finally found what he was looking for.
Here is what he posted in Rockwell Trading's forum last week:
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- What about you?
- Wouldn't it be nice to achieve your weekly trading goals on Monday?
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If you want to learn more about Rockwell's unique coaching program, then sign up NOW for a complimentary 60-min one-on-one coaching session.
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Technical IndicatorsStandard Error BandsCreated by Jon Anderson, Standard Error Bands are two moving averages based on standard error levels above and below the Linear Regression Indicator. As a type of envelope, they are similar in appearance to Bollinger Bands but are calculated and interpreted quite differently. While Bollinger Bands are plotted at standard deviation levels above and below a moving average, Standard Error Bands are plotted at standard error levels above and below the linear regression plot.
Andersen recommends default values of "21" for the number of periods, a 3-day simple moving average for the smoothing, and "2" standard errors. He also notes that very short time frames tend to produce unreliable results.
Because the spacing between Standard Error Bands is based on the Standard Error of the security, when the two bands are close together, it signifies a strong trend. When the two bands are far apart, prices are more volatile and will tend to fluctuate between the two bands. If the bands are close and then begin to widen, it may signify that the trend is weakening and may possibly be due for a reversal...
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PROFIT TAKING
Psychologist, Dr. Daniel Kahneman (The Nobel prize in economics - the field of behavioral economics) basically shows that investors are irrational, but predictably irrational. They continue to make the same mistakes over and over. One of the biggest is a common inability to take a loss: taking a loss is so painful, it is simply avoided.
A trader's most valuable commodity is trading capital. What is the most important rule for a trader? Preserve your capital. This is what keeps a trader in the game, and it is foolish to do anything that will jeopardize it. Subsequently, to preserve a trader's capital, there are rules that help a trader, whether in short, intermediate or long term play.
The rules listed below are suggestions. Only the trader can decide which rule is important. However, when a trader decides on a set of rules, they should be used consistently. Rules make up a trader’s system and are enforced by discipline.
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Trading Education Tutorial
Courtesy of Nirvana Systems
Support and Resistance Levels
History Tells Us When Securites are Overbought or Oversold
Support indicates a level on the chart where we can expect an increase in the demand for a security (buyers take over). How do we know this? By identifying this reaction to this price level in the chart's history.
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NASDAQ Chart of the Day
Courtesy of Nirvana Systems
SYNA has trended steadily higher above a clear lower trend line since March, which is very bullish. Today's reversal off this lower line at 36.00 could make for another run at new highs. Watch 38.00 for signs of more strength ahead.
Daily Trading Signals
NYSE Chart of the Day
Courtesy of Nirvana Systems
EFX formed a clear reversal bar off major support at 36.00, which has held firmly since last October. This pinpoint reversal at this precise support level indicates we could see a nice bounce higher, especially if 38.00 is cleared. Continue to watch 36.00 as support.
Daily Trading Signals
Daily Market Commentary
Courtesy of Nirvana Systems
Updated Thursday, 8/16 for Friday's market.
| Key DOW Levels for 8/17
|
| UP | None
|
| DN | Below 12,500
|
Wild Session...
- Dow drops throughout morning, but rallies strong into the Close. The index covered a lot of ground today, but eventually closed with a relatively mild 16 point loss, but more swings are likely ahead.
- The NASDAQ and S&P closed the day with late-day rallies after selling off most of the morning. Today's 'higher low and go' pattern indicates we could see a more of a push higher soon.
Summary
The Dow closed the day with a heavy rally that nearly erased the mid-day 325 point decline. The Dow may see another run at 13,200 for another key test of this zone. Watch 12,900 for direction.
Read More...
