A nice breakout for the Nasdaq (first chart below) today. Just based on the size of that pattern, the techs should see 2550-2590, although we'll see how the index handles the big round number of 2500 first. 2471 should now be support. It would have been nice to see chip stocks (second chart) join the party, but the semi index is a pretty good-looking chart otherwise. Options indicators got a little frothy on the open today, and upside volume wasn't as strong as we'd like to see, but stocks otherwise seem pointed up for now. The Dow (third chart) faces resistance at 12,580-12,600, and 12,450 should now be support. The S&P (fourth chart) needs to clear 1427-1432; if it can, it could be headed above 1440. 1416-1419 should now be solid support. Bond yields (fifth chart) resumed their uptrend today. Also note that ADX is beginning to turn up, a suggestion that the trend could gather strength. Could the economy be stronger than thought? Tomorrow's retail sales data may hold the key.
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Technical Analysis – Definition and Other Information:: Breakout - when a price passes through and stays above an move money in and out of stocks to beat market fluctuations, they tend to wind up with losses. http://www.hedgefund-index.com/d_technicals.aspHOME | Technical Trading Analysis for the NASDAQ:: Outperform Rating for Aftermarket Technology Corp (ATAC) Breakout (BRK) Point & Figure Charts (PFC) Commodity Channel Index (CCI) http://www.thetradingday.com/HOME | Technical Analysis - Stock Picks:: alike, try to move money in and out of stocks to beat market fluctuations, Breakout - when a price passes through and stays above an area of support or http://www.thelimitorder.com/technical-analysis.htmlHOME | Amgen Break-Out - Forbes.com:: most reliable reversal patterns in technical analysis, and they can also take a Technology News - Information Technology News - Tech News. Technology http://www.forbes.com/investmentnewsletters/2005/07/08/amger=yahootix&referrer=HOME |
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