| Market Direction with Ed Downs  |
 Dow 15 Minute Chart  Dow 60 Minute Chart | ||||||
Upside BreakDow breaks expanding range to upside & rallies.From prior commentary, "...the index ended the day at the upper boundary of the pattern, which we will watch carefully tomorrow morning... A break through 8,530 will likely send the index higher..." The Dow got an upside break from the expanding range at 8,530 this morning and continued steadily higher throughout the session, as seen in the 15 Minute Chart. Today was a perfect example of why we do not predict direction. Rather, we give a case for supply/demand lines, or "fulcrums" from the charts, and then wait for the break. Click Here for full Article | |||||||
| NYSE Chart of the Day with Jeff Drake KFT has made a significant move in the last couple of days, penetrating a resistance level that has been honored for months. The move comes on an increase in volume with a breakaway gap. This stock traded between 36 and 42 for most of last year, so we could be seeing it heading back into that range. |  Kraft Foods | ||||||
NASDAQ Chart of the Day INCY moves through resistance after a) forming a higher low, and then b)forming a higher high in the last few days. This stock trends steadily, and we are looking for a move to six. |  Incyte Genomics Inc | ||||||
Lesson of the Day
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MfG, ZiZo
