Friday, March 13, 2009

Stock Market Breakfast: Is there more left in the tank?

After two days of strong gains out of three is there a chance of a fourth?

Richard Lehman has the Dow in a mid-level channel, which while ultimately unsustainable in the short term will provide a big boost on the intermediate time frame. But given it's not near resistance there may yet be another 100 points of upside before things get sunhot.

In the same breath, there may be 25 points up for grabs for the Nasdaq.

Even Yong Pan's daily charts suggest there may be room to squeeze another up day.

Diamonds (DIA) also showing potential for a push to $74

Dr. Declan Fallon, Senior Market Technician, the free stock alerts, market alerts and stock charts website