ja dann schaun mer doch mal wo er hin macht...auf jeden Fall mach ich´s nicht weg *g*
nochmal nen update von gestern von signalwatch:
Updated Monday, 4/3 for Tuesday's market.
Key DOW Levels for 4/4UPAbove 11,250DNBelow 11,100Big Reversal
Dow rallies sharply in first half of session, but gets major downside reversal to end the day.
From prior commentary, "...a sharp upside reversal through 11,150, and eventually 11,200, could make for a powerful trend line reversal that leads to new highs. This is definitely a crossroads in the charts that could pack some punch...”
The Dow opened the session with a powerful break through 11,150 that led to a huge morning of trading, as seen in the 15 and 60 Minute Charts. The index raced out to an early 130 point gain, but ran smack into the upper boundary of the sloping range at 11,250, which proved to be a formidable resistance level. The index then formed a nice head-and-shoulder top and dropped back to the 11,150 zone to close the day with just a 36 point gain.
The 60 Minute Chart shows the index continues to honor the boundaries of the sloping trading range. The index is also holding above a major lower trend line that crosses at 11,100, also seen in the Daily Chart. We'll have to keep an eye on both of these patterns for the next big breakout move.
If the index can continue holding above 11,100, we could see a big upside reversal through 11,250 that would lead to new highs. Since this level held firmly as resistance, we would need to see a big, confirmed break through this zone to indicate big strength.
However, we could be in for an easy 100 point decline should the index break through the lower trend line at 11,100; but possibly more. Watch this level closely tomorrow.
Short Term Dow
The Dow closed the day at the near-term fulcrum of 11,140, seen in the 5 and 15 Minute Charts. Watch this level for early direction tomorrow morning.
Medium Term Dow
In the medium term, we are still out of the market and will watch 11,250 up, and 11,100 down tomorrow; using 20 point stops.
NASDAQ & S&P
The NASDAQ and S&P each rallied sharply in the morning, but fell just as hard in the afternoon. Today's pop and drop could be a precursor to a larger decline, keep an eye on the lower boundaries tomorrow.
Summary
The Dow ended the day with a big reversal from the session's highs, which is concerning after such a bullish Open to the new quarter. Look for the index to continue holding within the boundaries of the sloping range until a clear and solid breakout is seen. Also keep an eye on the 11,100 level, as this zone could be the break or reversal point prior to the next big move.
Thanks for listening, and Good luck in your trading!
Ed Downs
edowns@nirvsys.com
with assistance from..
Frank Ochoa, Sr. Market Analyst
fochoa@nirvsys.com
** Note: We are now posting Index entries and exits in Real Time, through our new Intraday Index Alerts service. To learn more about the service, visit SignalWatch.com and select Intraday Alerts from the main navigation bar. - SW Team
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