Monday, June 29, 2009

Stock Market Commentary: Dow Pops Over 200-day MA

Old news for every other index which are well over their respective 200-day MAs but the Dow managed to fight back to close over its. It's very close to a "Golden Cross" of its own.

Other indices finished neutral with former support playing as resistance; the Russell 2000 been a prime example

It's hard to read too much into typical summer trading. May/June lows are the best line in the sand if you are a bull. No confirmed reason to sell but hard to be a buyer.

Enter to win the Trader's Business Plan prize of a free psych test and free access to the trading plan development program. Retail value $398

[1] Register at Zignals.
[2] Go to Charts and select a stock (you will be prompted to download Microsoft Silverlight)
[3] Click on the YourCall Icon

[4] Enter a Call by giving a stop and target price; make sure the Time Period is set to Short (month)
[5] Enter as many calls as you like up until the end of June; these can be long or short signals
[6] Send me your Zignals Userid so I can track the calls made ( or post it in the comments section of this post. In your email make reference to the competition.
[7] The Zignals member with the stock giving the highest return from either a target hit or expiration after 22 trading days will win the prize. Only stocks or FX prices listed on Zignals qualify for entry (no pink sheet stocks). The announcement of the prize winner will be made at the end of July.

Good luck!

Dr. Declan Fallon, Senior Market Technician, the free stock alerts, stock charts, watchlist, multi-currency portfolio manager and strategy builder website. Forex data available too.