ThePlayboy
- 26 Apr 2004 07:04
- 9 of 20
Updated 4/23 for Monday's market.
Key DOW Levels for 4/26
UP Above 10,500
DN Below 10,400
Consolidating
Dow holds at highs, forms clear range to watch.
From prior commentary, "...An upside break through the top of the range at 10,500 will likely fuel an even sharper advance in the medium term...However, we could see further activity within the range before a break occurs.."
The Dow held on to yesterday's gains today, but tacking on 12 points and holding at the highs of the recent upmove, seen in the15 and 60 Minute Charts. The index has formed a clear range at the highs just beneath the lower boundary of the wide, bullish consolidation, seen in the Daily and 60 Minute Charts.
The fact that the Dow is consolidating at the highs from 10,400 to 10,500 indicates strength heading into Monday's market. An upside break through 10,500 will likely spark a significant rise in the market, as a break here would also cause a break from the bullish range from the Daily Chart.
However, today's sideways movement between 10,400 and 10,500 could spark even further sideways activity within this range before a clean break occurs. Also, be aware that a break either way from this range could ignite movement. A downside break from the consolidation at 10,400 should make for another push lower toward recent lows at around 10,250.
Short Term Dow
Short term, the Dow ended the day within a tight range from 10,458 to 10,483, seen in the 1 Minute Chart. Watch for a break from this range for direction at the Open Monday morning.
Medium Term Dow
In the medium term, we closed Longs this morning at 10,450, which gave us a nice 110 point gain for the trade. We later entered Short at 10,431, but stopped out with a 20 point stops. No other trades were triggered and we are now out of the market. We will watch 10,400 down, and 10,500 up Monday, using 20 point stops.
NASDAQ & S&P
The NASDAQ and S&P held at the highs throughout the session today, forming the beginning of a nice continuation pattern, which implies strength. Look for a break from the consolidation for direction Monday. *
Summary
The Dow pulled back slightly off yesterday's highs this morning, but ultimately held above the key 10,400 level, forming the framework for a continuation pattern. Watch for a break from the consolidation for movement Monday, with 10,500 being the key to another sharp advance
Crocodile
- 26 Apr 2004 07:38
- 10 of 20
Morning all, the 10 Day Intraday & Dividend news are now available as selections on the header.
Crocodile
- 26 Apr 2004 08:32
- 12 of 20
Morning Roma
Short Persimmon 691.5, seemed a good price.
Crocodile
- 26 Apr 2004 08:45
- 13 of 20
26/04 08:00 ANALYST RATINGS CHANGES AS OF 0700 GMT
BROKER & NEW RATING (FROM) TARGET (PREVIOUS)
COMPANY
=========================================================
Citigroup Smith Barney:
Alcatel Hold (Sell)
=========================================================
CSFB:
Rottneros Outperform (Underperform)
M-Real Outperform (Underperform)
WH Smith Neutral 355P (240P)
Publicis Neutral
Cattles Outperform 426P
Provident Fin Outperform 893P
London Scottish Outperform 164P
AEM Milano Underperform EUR1.45
=========================================================
JP Morgan:
Allianz Neutral (Overweight)
SEB Neutral (Overweight)
Centrica Underweight (Neutral) 215P
=========================================================
Lehman Bros:
DaimlerChrysler Equal-Weight (Underweight)
Infineon Equal-Weight (Overweight)
Endesa Overweight (Equal-Weight)
=========================================================
UBS:
Persimmon Buy (Neutral)
Atos Origin Neutral (Buy)
LogicaCMG Neutral (Buy)
Legal & General 118P (123P)
=========================================================
Crocodile
- 26 Apr 2004 09:04
- 14 of 20
Long FTSE 4574 folowing German IFO numbers
Crocodile
- 26 Apr 2004 09:11
- 15 of 20
Covered FTSE+6, Thank you Germany
Crocodile
- 26 Apr 2004 13:32
- 18 of 20
Short Cairn & Closed flat
stockbunny
- 26 Apr 2004 15:08
- 19 of 20
Nice broker upgrade for CTT (Cattles) 426p...that would be nice!!!
Thanks Croc as always for all the info, you're a star!