What’s interesting to us about all the following charts? Their refusal to die in the market plunge last week — all of them held last Friday’s low (Jan 29) while their respective sectors (tech, gold, financials, oil, Ags, etc) all went lower. If market bottom is for real (no matter what the time frame) then watch these stocks to lead. Also if you feel that Friday afternoon was a head-fake then watch for new week lows on these stocks. This is the kind of analysis we constantly do to find new “tells” that will give us edge in predicting market movement.
A Great Newsletter for Active Traders
We at The Market Guardian are pleased to announce our partnership with High Chart Patterns. High Chart Patterns is a newsletter service geared towards the active short-term trader. Five nights a week, they send out picks for the next day and a list of stocks that are leading the market. Their strategy is two-tiered: first, High Chart Patterns.com seeks out clean, uncongested daily chart patterns that yield good risk/reward trades; second, they teach their readers what to look for in intraday charts: when to pull the trigger and when to let it pass.