| Market Direction with Ed Downs  |
 Dow 15 Minute Chart  Dow 60 Minute Chart | ||||||
Still Consolidating..Dow continues sideways within expanding consolidation.From prior commentary, "...the index has now formed a (somewhat) bearish expanding triangle at the lows below the lower boundary of the wide channel. This formation implies a further move lower.." The Dow trended slightly higher within the boundaries of the expanding triangle today and pounded on the upper boundary several times before the close of trading, as seen in the 15 Minute Chart. Click Here for full Article | |||||||
| NYSE Chart of the Day with Jeff Drake MNY's retreat from resistance doesn't scream bearish, but we also like the volume climax. These patterns help indicate a trend reversal, so coupled with the resistance, it makes MNY look like a good short candidate. |  Mony Group Inc The | ||||||
NASDAQ Chart of the Day Cisco looks poised to fall back into the trading range that it established over the last 6 months. The tredline break and the exhaustion gap are reversal patterns, but we want to see a confirmation move down before entering. |  Cisco Systems Inc | ||||||
Lesson of the Day
|  Skywest Inc | ||||||
