Monday, November 30, 2009
Climax Low signal in the Nasdaq
There was a Climax Low buy signal today in the Nasdaq, right off the 50-day XMA (eXponential Moving Average). This will likely be the low of the handle in the "cup and handle" chart pattern.
Here's a chart.
Our stock pick from yesterday went down today - although it will probably go up tomorrow. Just goes to show importance of being in sync with the overall market. Assuming today's signal in the Nasdaq market works out we'd expect most stocks to go up from here, especially ones putting out buy signals today.
Here are a couple nice ones from from the Stocks in Motion table:
ACN is broke out from a classic cup-and-handle pattern today. It's 6% or so off it's all-time high (based on database data).
FDS is pushing up from the low of a shallow base-on-top of a base, following a breakout to an all-time high several weeks earlier. It formed as the market consolidated over the past couple weeks. The Accumulation / Distribution and RS Rank numbers are higher for FDS than for ACN. Also the pattern is tighter, with less intraday volatility. I think I'm talking myself into this one. ;-)>
Here's a chart.
Our stock pick from yesterday went down today - although it will probably go up tomorrow. Just goes to show importance of being in sync with the overall market. Assuming today's signal in the Nasdaq market works out we'd expect most stocks to go up from here, especially ones putting out buy signals today.
Here are a couple nice ones from from the Stocks in Motion table:
ACN is broke out from a classic cup-and-handle pattern today. It's 6% or so off it's all-time high (based on database data).
FDS is pushing up from the low of a shallow base-on-top of a base, following a breakout to an all-time high several weeks earlier. It formed as the market consolidated over the past couple weeks. The Accumulation / Distribution and RS Rank numbers are higher for FDS than for ACN. Also the pattern is tighter, with less intraday volatility. I think I'm talking myself into this one. ;-)>
// posted by gigascanner @ 9:14 PM 
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