| Market Direction with Ed Downs  |
 Dow 15 Minute Chart  Dow 60 Minute Chart | ||||||
Sharp RallyDow breaks through 8,630, rallies sharply.From prior commentary, "...We could see a continued uptrend within the pattern before any big move occurs. A break above 8,630 will indicate a further upside push with the boundaries of the wedge..." The Dow got the upside break through the top of the wedge at 8,630 and rallied sharply on the session, gaining 180 points for the day, as seen in the 15 Minute Chart. The index initially opened the session weak, but rallied sharply off the lows and managed to end the day at the session highs. Click Here for full Article | |||||||
| NYSE Chart of the Day with Jeff Drake We've been in DVA since the gap out of its range in April, and now we have been watching it move sideways for a couple of weeks. Today's move takes it to the top of the consolidation formation, and you can see a clear declining volume trend during this time. Watch for a move out of consolidation on heavy volume. This would be an excellent opportunity to go long on DVA if you are not already. |  Davita Inc | ||||||
NASDAQ Chart of the Day ADVS made a nice move today to break a consolidation pattern. We're watching for a clear break of the resistance level at 15 before entering, and it will also serve as a breakout confirmation as well. |  Advent Software Inc | ||||||
Lesson of the Day
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MfG, ZiZo
