Predict Market Turning Points!
May 18th, 2012Step-by-step videos show you how to pre-determine the highs and lows just the way the pros do!
Republished by Old Post Promoter
Step-by-step videos show you how to pre-determine the highs and lows just the way the pros do!
Republished by Old Post Promoter
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Republished by Old Post Promoter
This is James Hyerczyk with today’s Autochartist (www.autochartiststocks.com) stocks to watch for Tuesday, May 15, 2012. Mounting pressure on the US equity markets is encouraging long liquidation and fresh short-selling, making bearish or weakening equity markets attractive to traders. This makes the Technology Spider ETF and Fifth Third Bank, two stocks to watch today. According to our technical analysis of stock trends, the Technology Exchange Traded Fund, ETF symbol XLK, completed a channel up chart pattern on the 1440-minute chart. Although it did not sell off hard on the first breakout, the fact that it took out a support line that has held up for 153 candlesticks is a strong indication that sentiment is beginning to turn to the downside. The overall quality of the chart pattern is an impressive 8-bars. The initial trend is the highest rated quality indicator, coming in at the maximum 10-bars. Since the initial trend is down and the breakout is to the downside, our stock market technical analysis is forecasting a continuation trend change. The number of equidistant tops and bottoms is average. The 8-bar clarity rating suggests a “clean” pattern, created with a limited amount of “market noise”. The Channel Up chart pattern is a trending pattern, but sometimes because the breakout occurs after a prolonged move, there is limited follow-through initially. This may be why the breakout rating is only 1-bar. This trade may be more suited for a longer-term trader, since a …
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