Wednesday, April 02, 2008
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
Technical IndicatorsPolarized Fractal EfficiencyDeveloped by Hans Hanula, the Polarized Fractal Efficiency indicator draws on Mandelbrot and fractal geometry to illustrate the efficiency of how pricing moves between two points over time. The more linear and efficient the price movement, the shorter the distance the prices must travel.
Use the PFE indicator to measure how trendy or congested the price action is. PFE readings above zero indicate that the trend is up and the higher the reading the "trendier" and more efficient the upward movement. PFE readings below zero mean that the trend is down. The lower the reading the "trendier" and more efficient the downward movement. Readings near zero indicate choppy, less efficient movement and a balance between supply and demand.
Read More...
Trading Education Tutorial
Courtesy of Nirvana Systems
Moving Averages and the Trend
Moving Averages Help Us Identify Trend Reversals
One 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.
Read More...
NASDAQ Chart of the Day
Courtesy of Nirvana Systems
EXPE has broken out of a tightly-wound triangle pattern at 23.00 and could be headed to 29.00 before long.
Daily Trading Signals
NYSE Chart of the Day
Courtesy of Nirvana Systems
APD is getting the initial upside break through the top of the large triangle pattern that has been building out over the last four months. Look for continued strength above 95.00. A target of about 25.00 points could be seen.
Daily Trading Signals
Daily Market Commentary
Courtesy of Nirvana Systems
Updated Tuesday, 4/1 for Wednesday's market.
| Key DOW Levels for 4/2
|
| UP | Above 12,700
|
| DN | None
|
Huge Rally...
- The Dow breaks through top of channel, rallies back to 12,600. After trending steadily lower away from the 12,600 level over the past six sessions, the Dow rallied right back to 12,600 in just one session, which is phenomenal. We must now see how the Dow reacts to 12,625 before direction can be clearly decided.
- The NASDAQ and S&P each rallied beautifully out of their respective channels today. Each index is now testing the upper boundary of its trading range, which will be key moving forward.
Summary
The Dow closed the day at the highs of the session, but remains at the top of the large trading range, which means the index has yet to get a convincing breakout from this range. Watch 12,700 for clear signs of strength out of this range and for a potential test of the 12,800 level.
Read More...
Tuesday, April 01, 2008
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Trading Ideas & PicksIt was a tough week for the bulls as the markets were flooded with troubling economic announcements. In our last report, we noted that the majority of the indexes were in the process of testing the resistance of their respective 50-day moving averages. As you can see from the charts below, the bulls were able to briefly send the prices above the resistance, but the rally was short-lived...
Trading Education TutorialFive Fibonacci Tricks
Fibonacci jumped into the technical mainstream late in the bull market. Futures traders had it all to themselves until real-time software ported it over to the equity markets. Its popularity exploded as retail traders experimented with its arcane math and discovered its many virtues.
Fibonacci ratios describe the interaction between trend and countertrend markets -- 38%, 50% and 62% retracements form the primary pullback levels. Apply these percentages after a trend in either direction to predict the extent of the countertrend swing. Stretch a grid over the most obvious up or down wave, and see how percentages cross key price levels.
Convergence between pattern and retracement can point to excellent trading opportunities. Keep in mind that retracements work poorly in a vacuum. Always examine highs, lows and moving averages to confirm the importance of a specific level...
Read More...
Trading Ideas & PicksDDS: Stock bounced off the resistance of a
descending channel. The trendlines have created a well-defined trading range over the past six months and it will be interesting to see if this story will be able to continue...
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
INSU is winding up within a clear triangle range that has been winding up since December. A breakout from this pattern could eventually spark a move of about 5.00 points. Watch 15.30 up, and 12.90 down.
Daily Trading Signals
NYSE Chart of the Day
Courtesy of Nirvana Systems
MRK took a large gap down today on increased volume and remains within a very bearish downtrend. Look for more overall weakness beneath 40.00 ahead.
Daily Trading Signals
Daily Market Commentary
Courtesy of Nirvana Systems
Updated Monday, 3/31 for Tuesday's market.
| Key DOW Levels for 4/1
|
| UP | Above 12,650
|
| DN | None
|
Bounce within Channel...
- The Dow bounces from 12,200, gains 46 points. The index closed the day between 12,200 and 12,300 and now sits just beneath the top of the six-day channel, which we will continue to watch for near-term direction.
- The NASDAQ and S&P each mirrored the Dow today, as each remained within their respective channels near the center of the overall trading range. Watch the clear fulcrums for direction ahead.
Summary
The Dow continues to hold within the boundaries of the downtrending channel. A breakout from this channel could offer an early clue on direction within the overall trading range. Watch this pattern closely.
Read More...
