Friday, April 23, 2010

Markets Try To Push Higher

After a couple of weeks of relatively tight trading, bulls found the muster to pressure resistance despite all the negativity with respect to Greece and Goldman Sachs; although Greece's plan to take the pot of money on offer has apparently settled some fears. We won't know until the close if bulls are successful at breaking the range but early pressure looks promising.

Zignals Chart Image

The concern for bulls on a close above resistance on the back of a busy start to earnings season is the potential for a throwback into the prior range and a further drop below - and out of - the range (due to weak earnings from company X). Trapped bulls make for quick sellers and there would be no shortage of traders looking to bank what they have from February/March positions. Buyer beware.

Trading Signals Summary

Of the 168 trading strategies currently on offer in our Trading Strategy MarketPlace there was a large number of trailing update signals, offering new rolling targets and tighter stops to protect profits. By today's end - assuming markets close higher - there could be another round of such signals for long strategies (and stop exits for short strategies). Of profit targets there were exits for Tri-Indicator Forex CADUSD and US High Winners BA

BSE Zignals

Long Confirmation Entry for GRSM (Mumbai) at INR2824.5

Indian Golden Brown

New Long Target and Stop for ZEE (Mumbai) at INR310.2 (EoD): Target INR346.2, Stop INR283.2
New Long Target and Stop for NEST (Mumbai) at INR2926.3 (EoD): Target INR3293.4, Stop INR2694.6
New Long Target and Stop for TELCO (Mumbai) at INR839.9 (EoD): Target INR939.4, Stop

Indian High Winners

New Long Target and Stop for NEST (Mumbai) at INR2926.3 (EoD): Target INR3293.4, Stop INR2844.3
New Long Target and Stop for TELCO (Mumbai) at INR839.9 (EoD): Target INR939.4, Stop INR811.3

Relative Canada

Long Confirmation Entry for DPS.UN (Toronto) at $18.94

Relative UK

Long Confirmation Entry for PAY (London) at 320p

Tri-Indicator Forex

Long Exit at Profit Target for CADUSD (FX) at 1.0020

UK High Winners

Long Entry for LIO (London) at 100p
Long Exit at Stop for ACHL (London) at 50p

US High Winners

New Long Target and Stop for AAPL (Nasdaq) at $263.7 (EoD): Target $280.1, Stop $253.4
Long Exit at Profit Target for BA (NYSE) at $74.46

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Dr. Declan Fallon, Senior Market Technician for, offers a range of stock trading strategies for global markets under the user id: ‘Fallond’, ‘ETFTrader’ and ‘Z_Strategy’ available through the latest rich internet application for finance, the Zignals MarketPortal or the Zignals Trading Strategy MarketPlace. Zignals offers a full suite of financial services including price and fundamental stock alerts, stock charts for Indian, Australian, Frankfurt, Euronext, UK, Ireland and Canadian stocks, tabbed stock list watchlists, multi-currency portfolio manager, active stock screener with fundamental trading strategy support and trading system builder. Forex, precious metal and energy commodities too.

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