Monday Night Update

Posted by downtowntrader | 2/20/2006 09:31:00 PM | 0 comments »

In looking at the index charts this weekend I am seeing some clear resistance in some and some that are somewhere in the middle. I will post NAS and DJIA charts tonight. Russell, and SP look a little better in the they are not smack dab into resistance.

Here is the NAS chart. It is up against resistance, but MACD looks like it wants to turn up.

DJIA is testing rising resistance line again. It has been rebuffed each time it has tested this line, but RSI downtrend is broken.

By the way I think everyone should read this excellent article that I found courtesy of Roberto over at Nasdaqtrader. Read "Excellent Paul Desmond interview on identifying tops and bottoms" in his Sunday Readings post.

Stay tuned as I will be posting some charts tonight as well.