Technical Insider

Day Trading notes DJIA up PSEi down Stocks to watch: SM - might test previous gap down, might form 3rd white candle, might move above 32MA MER - going down further SM formed higher high, amongst most active MEG amongst most active, new low since 10/13/2006

SM = 257.5 (+1.0%) SM formed another white candle with higher high and higher low. Volume increased. SM on its way to test resitance at 32MA. SM on its way to test resistance of previous gap down. Good luck to all SM traders!

PSEi = 2833.27 (-0.8%) PSEi formed a black candle with higher high and higher low. Volume decreased. PSEi was able to close previous gap down. PSEi closed near its low and at or below its 32MA. Bearish sign. PSEi also seems to have formed a bearish engulfing pattern. Careful traders...

DJIA = 12,594.03 (+0.36%) DJIA seems to be forming another white candle with higher low and higher high. Volume seems to be increasing. I hope DJIA continues to form white candles with higher low and higher highs. Good luck to all traders!

PSEi = 2855.98 (+0.5%) PSEi formed a white candle with higher high and higher low with increasing volume. PSEi moved above the 32MA which hopefully will act as a level of support. Hopefully PSEi will try to test the 65MA at 2916. Good luck to all traders!