stock charts statistics
TRADING STOCKS - STOCK PICKS

Swing Trading ] [ Stock Picks ] [ Chart Patterns ] [ Technical Analysis ] [ Trading Ideas ] [Trading Software ]

 Trading Stocks - Trading ideas * Stock charts * Trading picks

Trading Education   Trading Ideas   Trading Strategies   Trading Tools
 
Trading Stock Picks

Chart Pattern.com

Daily Trading Alerts

Swing Trades

Options University

Discover Where Stock Market Potential Becomes Reality
Quantum Swing Trader & Profit Feeder

Swing Charts of the Week
Trade like a PRO

The Weekly Report for May 21sth, 2007
Casey Murphy - May 21, 2007


The Weekly Report for May 21st, 2007

Market Summary - A Time To Take Profit?

The Dow's run into uncharted territory continued as the index surpassed the 13,500 level for the first time in history. Last week's surge was aided in part to higher-than-expected consumer confidence and various corporate buyouts. It seems like only yesterday that we were asking ourselves whether traders would be able to send the Dow above 13,000 - the psychological barrier that is now a fair distance away from current levels. The question now becomes where will this run end? Is 14,000 next? I think most traders would agree that this rally is unsustainable at the recent rate, but trading against the trend will be dangergous and timing a correction will be extremely difficult. It may be wise to take some money off the table and wait for a clearer picture of what will prevent this rally from correcting.

In our last report, we mentioned that various economic realeases would continue to be the important catalyst that would help keep the uptrend from correcting. Sronger-than expected consumer confidence numbers were definitely welcomed by the bulls. The markets are currently in an interesting state because continued strength on the economic front could keep the rally moving higher. However, with any signs of weakness we could see a quick correction toward the support of the longer-term moving averages.

 

 

 


Happy Trading,
Casey Murphy,
Senior Analyst, ChartAdvisor


 Previous Chart Alerts:    JCP   --> QQQQ   CKFR   QQQQ   QQQQ   APOL   QQQQ   AMED   QQQQ   EBAY   QQQQ   INAP   QQQQ   GD   QQQQ   INTC   QQQQ   ABK   QQQQ   NTRS   QQQQ   ACE   QQQQ   BJ   QQQQ   ALL   QQQQ   GGG   QQQQ   BA   QQQQ   WMB   QQQQ   OIL   QQQQ   OXY  


P.S. - If you are contemplating full-time day trading or if you are interested in the potential of making profits in excess of 2% of your capital on a daily basis, then the Millennium Traders' Trading Room, part of Day Trading Services, is an absolute must. If you want your money to work for you but do not have the time or the general knowledge to trade the market Swing Trading Services are the right strategy for you.

Quantum Swing Trader  ~  Swing Trading Principles  ~  Trading Profit Feeder  ~  UTM  ~  Trading Videos

Instant Profits Trading Course

Super Divergence Blueprint

STArS Stock Picks Trading


  Swing Picks Home
  Swing Trading Tactics
  Trading Gaps
  Elliott Wave Trading
  Trading Charts Picks
  Options Strategies Guide
  Trading Education
  Trading Tutorials
  Trading Commentary
  Trading Stock Picks
  Daily Trading Signals
  Charts:
*   BDY
*   HAS
*   ADRX
*   GOOG
*   MSFT
*   MICU
*   PETM
*   SBGI
*   SHOP
ChartPattern Trading $ystems
Dan Zanger Offers 3 week FREE trial!

Shopping: Products & Services

Wide Selection of Products and Services


Swing Trading Daily Blog     Swing Trading Ideas
Trading - V   IV   III   II   I   XII   XI   X   IX   VIII   VII   VI

      AbtElectronics.com

Sharks     Great White Shark     Shark Attacks     Med Sea Sharks
                Wizard of ID