Trading Stock Resistance and Support market reversals::
Jan 22, 2008 One of the mainstays for any market participant relying on technical analysis, however, is the importance of being able to identify and
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The market made a valiant attempt to bottom today, retesting Monday's lows and reversing sharply. While there could still be some volatility into next week's Federal Reserve meeting — and after, if the Fed fails to deliver a big rate cut — the market is now entering the strongest period of the year. Sentiment is mixed, with commercial futures traders long but the Investors Intelligence sentiment survey a little too bullish still at 56-23 bulls-bears, so choppy trading may still lie ahead, particularly with the Nasdaq testing the critical 2900-3000 area and the S&P 500 struggling at its all-time high.
Technical Analysis: Retest and Reversal::
Technical Analysis: Retest and Reversal 07 Oct 24. Stocks Battle Back from Steep Decline 07 Oct 24. Verizon Wireless Drops FCC Auction Appeal 07 Oct 24
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Nonetheless, it's time for our annual stock picks based on the work of Larry Williams. The list hasn't changed all that much from last year — this year's list is Intel, Home Depot, Disney, Alcoa and GM. As usual, we'll buy at the close on the last Monday of October. This year we'll hold until the open of the first trading day after July 4, in deference to Larry's observation that years ending in 5 and 8 (and pre-presidential election years) tend to be strongest; in other years, we'll sell at the open on May 1.
Beyond Technical Analysis: How to Develop and Implement a Winning - Google Books Result::
href=http://books.google.com/books?id=Qfr_pC_WXDEC&pg=PA206&lpg=PA206&dq=Technical+Analysis:+Retest+and+Reversal&source=web&ots=2GsQkoXnRT&sig=l8K_BXHZ5Krd_AqegU66Z9b96qk&hl=en&sa=X&oi=book_result&resnum=97&ct=result class=l onmousedown=return clk(this.href,,,res,97,)>Beyond Technical Analysis: How to Develop and Implement a Winning - Google Books Resultby Tushar S. Chande - 2001 - Business & Economics - 383 pagesTechnical analysis Finance | Investment, capital formation, speculation PRINT ON A sharp key reversal caused a big down day in the middle of the chart,
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Onto the charts. The techs (first chart below) appear to be the strongest sector here despite brutal weakness in chip stocks. Above 2790-2800 and the Nasdaq could be off to the races. 2750 and 2700 are support.
The S&P (second chart) is so far holding above its 200-day average. 1500 is first support and 1520 and 1540 are resistance.
The Dow (third chart) has major resistance at 13,800, and 13,600 and 13,400 are support.
Finally, with the banks (fourth chart) threatening to crash through their summer lows, it's no wonder that bond traders (fifth chart) are pricing in two more Fed rate cuts.
DENKMANN Investments Professional FOREX Asset Management Technical ::
Professional Money Management, Technical Analysis, Free Trading Journal, a retest of 1.29 followed by an attempt to break the yearly high at 1.2979
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QQQQ Trend analysis and technical indicators::
Jan 11, 2008 QQQQ Short-term technical analysis: The reversal may follow soon to retest the broken support trend line around 50.
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Paul Shread is a Chartered Market Technician (CMT) and member of the Market Technicians Association.
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