If the DJIA breakout holds look for the other indices to follow. Also the Dow chart pattern is forecasting a price target of 13,750 if this is a successful breakout.
Many individual stocks had large moves on Friday. Friday’s Action
Sunday, April 20, 2008
Dow Closes Above Resistance
DJIA +288.87, +1.81%
SP500 + 24.77, +1.81%
NASDAQ Comp. + 61.14, +2.61%
Russell 2000 + 13.07, +1.85%
The DJIA broke through and closed above horizontal resistance on Friday while the S&P closed at resistance. The Nasdaq Composite and Russell 2000 both closed several points below horizontal resistance while clearly in the area of resistance. The markets are still clearly in the area of resistance and can either continue moving higher on Monday or pause after Friday’s big rally.
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2 comments:
Dave:
Great Advanced Options Workshop in DC last week.
I plan to be emailing you my positive results in the very near future.
Thanks
Robert
CANI
Anyone notice that some companies are posting short earnings periods like JASO and RRC. Others that seem tight are DECK, ELN, GRMN, AGU. What do you all think about buying stock on signals with earnings in the next few days(ie. FSLR flag, DECK pullback)? Last observation: A few steel stocks are showing MACD divergence;SCHN, AKS, MTL.
PJ
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