- All
- Videos
Economic Data Tops Estimates; Stocks Rally
At this point, the Dow Jones Industrial Average, S&P 500, and the NYSE composite have all traded above resistance (their long term 200 DMA lines and recent chart highs) which leaves the tech-heavy Nasdaq composite and small-cap Russell 2000 slightly below their recent chart highs. However, the fact that all the major averages are still above their respective 2-month downward trendlines bodes well for this five week rally. In order for a new leg higher to begin, all the major averages must close and remain above their respective resistance levels. Remember that the window remains open for for high-ranked stocks to be accumulated when they trigger fresh technical buy signals. Trade accordingly.
Adam Sarhan
August 2, 2010
Week in Review: Stocks End Flat After Hitting Resistance
Friday, July 30, 2010 Stock Market Commentary: For the week, the major averages ended mixed to slightly lower as investors digested a slew of economic
Adam Sarhan
July 30, 2010
Stocks Negatively Reverse From Resistance
Thursday, July 29, 2010 Stock Market Commentary: The major averages negatively reversed after encountering resistance near their prior chart highs. Volume, an important indicator of institutional
Adam Sarhan
July 29, 2010
Stocks End Lower On Lackluster Economic Data
It was encouraging to see the major averages continue rallying after breaking above their their respective 2-month downward trendlines and their respective 50-day moving average (DMA) lines. However, the Dow Jones Industrial Average and the NYSE composite have stalled near their prior chart highs which is their next logical area of resistance. At this point, the window remains open for for high ranked stocks to be accumulated when they trigger fresh technical buy signals. If you are interested in learning more, feel free to contact us for a full list of high ranked candidates. Trade accordingly.
Adam Sarhan
July 28, 2010
Mixed Economic Data Weighs On Stocks
Tuesday, July 27, 2010 Stock Market Commentary: Earnings & Mixed Economic Data Weigh On Stocks.
Adam Sarhan
July 27, 2010
FedEx & Healthy Housing Data Lift Stocks
It was encouraging to see the major averages continue rallying after breaking above their their respective 2-month downward trendlines and their respective 50-day moving average (DMA) lines on Friday. At this point, the window remains open for for high ranked stocks to be accumulated when they trigger fresh technical buy signals. If you are interested in learning more, feel free to contact us for a full list of high ranked candidates. Trade accordingly
Adam Sarhan
July 26, 2010
Healthy Week On Wall St; Stocks Close Above Resistance!
It was a very constructive week on Wall Street as all the major averages traded above their respective two month downward trendlines and their respective 50 DMA lines. It was also encouraging to see the Dow Jones Industrial Average & and the tech-heavy Nasdaq composite close above their longer term downward sloping 200 DMA lines. There is no point in fighting the tape and the bulls deserve the bullish benefit of the doubt until this “breakout” is negated. Trade accordingly.
Adam Sarhan
July 23, 2010
Stocks Close Above Resistance
All the major averages traded above their respective two month downward trendlines and their 50 DMA lines on Thursday. However, it is a bit disconcerting to see volume recede as the market moves higher. This is the exact opposite of what one would like to see when the major averages rally. It is also important to note that the major averages are rallying up to an area where they encountered resistance several times in recent weeks and they are still below their longer term 200 DMA lines. That said, we can not argue with the tape and the bulls deserve the bullish benefit of the doubt until this “breakout” is negated. Trade accordingly.
Adam Sarhan
July 22, 2010
Stocks Fail At Resistance- Again
Since the current rally began on July 1, the major averages have rallied on suspiciously light volume, leadership has been very light and resistance has held firm- all unhealthy signs. This ominous action suggests another pullback may be in the cards. That said, patience and caution are of the utmost importance until the major averages close above resistance. Trade accordingly.
Adam Sarhan
July 21, 2010
© ChartYourTrade | Contact us: website@chartyourtrade.com
Disclaimer: All communication from ChartYourTrade is general in nature and for educational and general informational purposes only. Under no circumstance should it be considered personalized investment advice. All our work is general in nature and not specific to any one person. All the information on this site and/or that originates from us, or any of our partners or affiliates, is for educational and informational purposes only and is NOT a recommendation to buy or sell anything. To avoid any conflicts of interest, we do not have a working relationship with any of the companies mentioned in our work. Furthermore, we may have a long, short, or no position in any, or all, of the names that appear in our work and they may change at any time without notice. Investing and trading in capital markets or using margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you as well as for you. Before you decide to invest or trade in capital markets you should carefully consider your investment objectives, level of experience, and risk appetite, among other factors. The possibility exists that you could sustain a loss of some, all, or more of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with capital markets, investing/trading, and seek specific investment advice from an independent financial advisor and other professionals. Remember all the information we provide is for educational and general informational purposes only and is subject to change without notice.
Charts and Data are courtesy of MarketSmith Incorporated. Join MarketSmith here.