The gap between the Dow / S&P and the NASDAQ / NASDAQ 100 grew, while the Russell 2000 maintained its leadership role with new closing highs. Given the % gains and new multi-year highs it was a relatively light volume day for both large cap indices [ Dow / S&P ]. But best news for the bulls was the break of the MACD bearish divergence in each of the large cap indices. There is still some chance of new bearish divergences developing but there should be sufficient upward momentum to prevent this from happening. The Tech averages NASDAQ / NASDAQ 100 were kinda of forgotten amongst the melee and both trade below April/January highs respectively. Volume fell in both of these indices as money rotated into the relative safety of large cap stocks. Speculators continued to fuel the small cap rally [ Russell 2000 ] and trend traders will have been pleased with Friday's gains. The MACD "buy" trigger was additional confirmation, but unlike large cap indices it has yet t...

Bulls put the hammer down with strength across the board. The Trade Ideas scan was not short of bullish candidates; today's selection covered 2 minutes of late afternoon trading. Every stock appeared once during this period, but ZL was the most frequent appearer based on the previous 10 minutes of the scan. KMG : Three month cup-and-handle pattern. Stops can go on a loss of $98. Cautious buyers should wait for volume break of $107. Projected target of $127. Point-n-figure target of $110 should be exceeded. Weekly chart shows stong uptrend, although volume has dropped off significantly since early 2005. WDR : Bounce off the 50-day MA is stuck in a limbo of retracement from $24.80 highs. Look for retracements back to the 50-day MA as buying opportunities and a place to set stops. Resistance at $26 and $31. ECA : Small handle between $50 and $52. Stops can go on loss of $50. Triple bottom ($40.04/$39.47/$41.15) forms part of a wider consolidation base (7-months, see weekly chart) wit...

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Bulls took up the opportunity to buy into a short term, Tech oversold market. Whether it can sustain itself will become apparent next week. But it generated a nice swathe of stocks on the Trade Ideas scan. Today's eight stocks covered a time span of three minutes, each stock appeared only once over this time period. KONG : Decent handle shaping off $14.25 resistance as part of a four month base. 20-day MA has acted as support during this handle and stops should be placed on a loss of this average. Short term traders can sell test of $15. Those with a longer time frame can look to a projected target of $19.50 or the point-n-figure target of $23.50. Featured to my newsletter subscribers for September 26th at $12.87. K : Small rectangular consolidation at $45.85 support, one of the strongest performing consolidation patterns. Projected target of $50 but this is a conservative estimate if a triple top breakout on the point-n-figure chart is hit by a move to $47. Latter chart target is ...

The current selection covered 4 minutes of the softwares' time. Frequency on the scan represented by "*"; the most frequently appearing stock was IBNK . Markets spent another day in a holding pattern with a bearish bias. ASML : * : Small bullish hammer at the 20-day MA. Holding to the lows of the mid-April buying surge. Stops can go on a break of the 20-day MA or loss of $20.50 depending on your risk threshold. Resistance at $23.50. Projected target of $32. MGAM : * : Finds support at $13. Late afternoon buying completes a modestly bullish 'thrusting pattern'. Stops on loss of $12.66. Point-n-figure target of $19.50. Resistance at $28. IBNK : *** : Trading inside a horizontal range. Big ceiling at $23 - a break of this price should see this fly. Point-n-figure target of $38.50. Stops on loss of $19. One to accumulate. KSS : * : Rally fast approaching $58 resistance (after that it is $65). Golden cross of the 50-day and 200-day MA sets up a bullish long term p...

Two charts which show the dollar is not in as bad a state as the consensus would have you believe. A low risk buying opportunity is about to emerge. The question will be how far can it go? US Dollar

Sourced this from Trader Mike . Article by John Partrige of Globeinvestor.com. Opinion of Jim Rogers, of Rogers International Commodities Index. "We're a lot closer to the bottom for agriculture than we are for copper," Mr. Rogers said a little breathlessly yesterday when reached mid-workout at a New York gym. "We have many, many, many percentage points to go on the upside." Take sugar. Even though it jumped by 60 per cent last year, making it the top performer among commodities, and is continuing its rapid rise in 2006, it is still below its record high, he said. Cotton and corn are both 50 to 60 per cent below their highs, while coffee is 70 per cent below its. John Partridge. Some things to consider with Agricultural commodity prices; * Seasonal price peaks occur in Spring and prices fall into Harvest. * High energy prices add cost to storage (and harvesting) expenses. Of the commodity charts listed below: [1] Coffee looks best positioned for multi-year gain...