Dow all time high!

Posted by downtowntrader | 10/03/2006 09:37:00 PM | 0 comments »

You would of never known the Dow hit an all time high today by looking at the other indices today. The Russell actually finished red. The strength may spill over into the rest of the indices the next few days, but I am suspect until the Nasdaq resumes a leadership role.

Here is a 60 minute chart of the Q's . It bounced off the lower bollinger band, but stopped right at the mid band / 20sma. It needs to clear this flag for a shot at the upper band, but it looks like the band is starting to turn lower.

GME is one I've been watching for a couple of weeks now. It bounced off the trendline today near the 20sma and may have a shot at making a run over the handle pivot.
PNRA is trading a flag consolidation here after clearing a down trendline. Keep an eye on that flag.
RWC may be taking off here.
SHLD has been trading a tight flag which may also be classified as a handle for a 4 month cup and handle.
IHS touched the 20sma again and found support.


Good Luck,

DT

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