Tuesday, April 13, 2004
Issue Contents:
| 09:19 | Good Morning TrendVue Trader Talk |
| 09:27 | Stock Index Strategy $INDU, $SPX, $NDX |
| 16:16 | TrendVue Active Trader Today's transcript. |
| 16:16 | TrendVue Trader Talk Today's transcript. |
This is a reminder to newsletter subscribers that Teresa and Mike are available during market hours in TrendVue Trader Talk for discussion and technical support. Please bookmark your account page, and click the link under "real time forums" to access the text chat room.
Last week, as I left on holiday, we left off as the major stock indexes hit a resistance point on the daily chart. As price action hit the critical point, sellers began to emerge.
So far, what we've seen is a stalling effect at the resistance area marked out. We have not seen sellers hit this market very hard at all, and of course, thoughts turn to what might be a surprise outcome.
I drew these arrows last week as a possible price trajectory, mainly because as much as there is resistance as marked, price action remains above the 20-day EMA and 50-day MA, and failure to go down will result in a surprise move up, on what we call a "stealth bull flag" formation.
Today's transcript.
Click on the title above to expand this document.
Today's transcript.
Click on the title above to expand this document.