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Technical Analysis: Rally Loses Steam | | Published by: rose 2008-11-21 |
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Elliott Wave Theory Basics::
For their analysis to be correct, the market should not take the top of the previous rally. The Wave 3 rally picks up steam and takes the top of Wave 1. As
http://www.tradersedgeindia.com/elliott_wave_theory.htmHOME |
The lack of follow-through to Friday's rally raises the possibility that the market may retest its recent lows, as buyers showed little conviction today. The Nasdaq (first chart below) faces tough resistance at 2582-2585, and support is 2566 and 2545-2555. 1516-1518 is tough resistance for the S&P (second chart), while 1500 and 1492 are support. The Dow (third chart) faces resistance at 13,500-13,530, and 13,380-13,410 is support. The 10-year yield (fourth chart) paused today, but the rise in interest rates has been strong. Inflation data due out at the end of this week will no doubt be watched closely.
Setting Stop Loss Orders -- Technical Analysis Education::
stop loss orders and other technical analysis terms at StreetAuthority.coms bearish divergence -- a clear warning that the stock is losing steam.
http://www.streetauthority.com/terms/s/stoploss.aspHOME |
Paul Shread is a Chartered Market Technician (CMT) and member of the Market Technicians Association
FT.com - Europe loses steam as tech stocks drag::
Black Box Investing Technical Analysis Report of GRMN: An in-depth examination Overview: Euro sinks while bonds rally after ECB
http://us.ft.com/ftgateway/superpage.ft?news_id=fto0408200&referrer_id=yahoofinanceHOME |
The Kirk Report : Rally On::
screens, market analysis, trading tools, stock research, investment ideas, portfolio analysis, trading lessons, investment are losing steam. Yales money
http://www.thekirkreport.com/2005/11/rally_on.htmlHOME |
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 TI Fails to Inspire
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