Posted by 8 September 2003

Taking Out Resistance

One of the most important rules from William Eng’s book, Trading Rules, is that ‘bear markets have no supports & bull markets have no resistance.’ The second part of that is very evident right now, especially on the NASDAQ. It looked like the market might have been starting a multi-day pullback last week. The S&P [...]

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Posted by 3 September 2003

A Bit of Churning?

It looks like this latest leg of the rally is getting a little tired. The NASDAQ had its best volume day since early June but lackluster price movement. Although it closed up for the day, it also made a doji, which is a sign of indecision. The other indices also had increases in volume but [...]

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Posted by 2 September 2003

If it Looks Like a Breakout and it Acts Like a Breakout…

It’s a Breakout! We certainly started September off with a bang. The S&P 500 finally joined the party and broke out of its 3 month long trading range. We even had a nice increase in volume across all the major indices. So it looks like all systems go for the bulls and more pain for [...]

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