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[RT] Fw: Daily Signal E-Mail For: 12/4/2008

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Title: The Daily Signal
Dow is indeed in an interesting position in the triangle (not to mention the inverse head and shoulder pattern shown).  We gcould see a quick move up at least to 900, maybe higher?
 
----- Original Message -----
Sent: Wednesday, December 03, 2008 4:53 PM
Subject: Daily Signal E-Mail For: 12/4/2008


December 3, 2008
powered by
SignalWatch.com
Dow commentary
NYSE Chart of Day
NASDAQ Chart of Day
Lesson of the day
About SignalWatch
Market Direction
with Ed Downs

Triangle Forming..

Dow trades back and forth throughout session, closes at highs.

From prior commentary, "...the Dow is building out a large triangle pattern that has been building out over the last three weeks...We will likely see more development of this pattern before a breakout occurs..."

The Dow opened the day with early strength this morning, but fell short of the 8,600 level and dropped back to 8,300, as seen in the 15 Minute Chart. The index then held at 8,300 and rallied to the Close, ending the day at 8,600 with a gain of 173 points.

Click Here for full Article

Key DOW Levels for 12/4
UP Above 8,850
DN Below 8,140

$INDU
Dow 15 Minute Chart

$INDU
Dow 60 Minute Chart

NYSE Chart of the Day
with Jeff Drake

BEZ is winding up within a clear triangle pattern that could offer a solid breakout opportunity. A breakout in either direction could push this stock several points in the direction of the break. Watch 16.60 up, and 13.20 for a confirmed breakout.

BEZ
Baldor Electric Co

NASDAQ Chart of the Day
with Jeff Drake

MRVL got a nice upside break through the top of a well-defined triangle via a breakaway gap and could be headed higher. Look for much more strength ahead should this stock remain above 5.40.

MRVL
Marvell Technology Group

Lesson of the Day
with Jeff Drake

Trendline Breaks

When is a Trend Truly Broken?

The importance of trendlines cannot be overstated when it comes to technical analysis. We are told to trade with the primary trend, exit when the trend reverses, enter on trend reversals, and so on. Trends are easy enough to identify, but when is a trend actually broken?

Click Here for full Article

 BBBY
Bed Bath & Beyond Inc

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