candidates for break out or short sales for at least short term gains by buying the break (or selling the break down) on good volume and closing at least some on the first day. Today including: CNX, ESRX, PRU, CSCO, ACXM, CSQ.
Options and Stock Market Technical Chart Analysis for April 27, 2009 by Idan Koren
Today we look at a bunch of charts, as the overall sentiment becomes a little more bearish than it was friday. It is still very hard to know what will happen in the market over the next few days as there is ambiguity, but the overall direction looks like it maybe a little lower. I still believe a move to 7540 on the Dow should be welcomed by both the bulls and the bears, as it is i the 38.2% retracement, and this market seems very exhausted to me. The bulls failed to break the longer term resistance of the Dow Channel yet again early today, and the bears took over. The financials looked weak all day, GS looked weak at the end of the day. The S&P might find some more support in it's ascending channel support around 845-846 tomorrow, and I will take off positions as profits/losses at that level no matter what, as i don't want to have a portfolio, which is that high on risk. In this video we look at $TNX, GS, SPY, XLF, SRS, $INDU (dow jones) and really quickly at the $VIX and GLD