Thursday, May 1, 2008
The Trend Change the Chart Signals Have Been Suggesting?
Just stepped off the plane on the east coast just in time to see our support bounce (DJIA & Nasdaq) and a DJIA move to the 200 DMA. The S&P is breaking resistance and the Russell 2000 has moved right to its resistance level. The market is not closed and the non-farm payrolls and unemployment reports will be out in the morning, but this does look like the breakout and trend change the Chart Signals have been suggesting for the past several days.
If the market closes up our short-term trend reading will be up and if the market continues to move up tomorrow we will likely change our intermediate term reading to up also. There is still a chance that the market will pull back today or tomorrow, but at this moment this is looking like the potnetial trend change we have been discussing for several days.
I'll post later after I get my room and I can review all the Chart Signals.
UP Before the Close
MA, STRA, GS, SOHU, AAPL, DECK, BIDU, MER, IBM, LEH, GRMN, MS, V, UAUA, CELG, NKE
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3 comments:
Hi Dave... thanks for starting this blog and allowing us to benefit from your vast trading knowledge and experience. This gives us an opportunity to interact with you even when you're unable to do the Thurs AIT. I've not "blogged" before so I'm not sure if I need to sign in or choose an identity to post a comment... hope this works!
Regards, Fulvio
Dave, I check this blog all the time. Don't usually post anything, but enjoy your "tasty trades" ideas as they hit the "drool zone" You are the master!
Glad you're finding the posting of value...
DJ
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