Chatterbox
I am always impressed by the quality of traders that happen to subscribe to
the TradersWire Interactive chat
room. Often they will spot things that even our team of analysts will overlook.
11:59:44
Index Alert
The Nasdaq Composite ($NDX.X)
is trying to break out of an ascending triangle on the intraday chart. The
index is up 1.06 to 1867.35.
The index was just touching the top of the triangle as the alert
went up. After the successful breakout started, some of the members in the room
started to inquire about a possible inverted head and shoulders on the intraday
chart, which it had formed.
The breakout was short-lived, but enough of a move to be
tradable via the QQQ’s or an individual stock that had a good long setup. The
bigger picture pattern was a good support to the triangle breakout. Without the
extra eyes in the chat room, that bit of information would have been missed. If
you have not come on over and checked out
TradersWire Interactive, join us and take the free trial. It
could be just what you need for your trading to turn the corner.
Until tomorrow,
Duke