2007 Feb 18 - Sun
2007/02/18 Market Notes
Upcoming on Wednesday are a couple of economic releases: the index of U.S. leading economic indicators, and the U.S.
Consumer Price Index, the later of which will be released at 8:30 a.m. by the Bureau of Labour Statistics.
In looking at the daily candles for the Down JOnes Industrial Average over the last few months, it looks like trading
for the upcoming week could be flat or in a downwards direction as traders do some profit taking.
The Darvas trades obviously work well on positive DOW days, and seem to keep somewhat above water on flat days. On
down days, it looks like an effort will be needed to stay afloat. On down days, the goal would be to find a low point of
the day, and then enter the trades there. I'm currently looking at the Arms Index to see if that will help at all.
So if my eyeballed pattern analysis is any good, Tuesday looks like it could be another relatively flat day or the
start of downward temporary correction.
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