Channel Watching

October 8th, 2011
in contributors

by David Grandey, All About Trends

trading-channels Yesterday (Thursday, October 6) we said:

Today is the 3rd up day folks, all right up to numerous resistance levels. BE CAREFUL here with regards to putting new money to work on the longside for a few days.
Usually on the 3rd to 4th day watch for a reversal and here we are sitting at resistance and its the 4th day. For us to go sideways or down isn't out of line here.

There was a see-saw battle Friday, but the major indices finally ended lower.  We only spotted two that were positive for the day:  The Dow Jones Utility Index and the Philadelphia Semiconductor Index.  We show the following charts, viewed in the middle of the day Friday, because they make clear there is still a war between trading channels moving in opposite directions.

Follow up:

60 Minute Time Frequency charts

Daily Time Frequency Charts

So, enjoy watching your football channels this weekend.  The trading channels will need your attention again on Monday morning.

Related Articles

Investing articles by David Grandey:

About the Author

David-GrandeyDavid Grandey is the founder and CEO of All About Trends, a subscription based newsletter service focused on helping individuals secure consistent profits in the market by trading what they see, not what they think, hear or fear. The focus is on how to trade uptrends, downtrends and changes in trends. All About Trends offers a free newsletter at and a free report -- "How To Outperform 90% Of Wall Street With Just $500 A Week.”

Disclaimer from All About Trends

THESE ARE NOT BUY RECOMMENDATIONS!Comments contained in the body of this report are technical opinions only. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. All About Trends reserves the right to refuse service to anyone at anytime for any reason. Allabouttrends.netis not an investment advisor, hence it does not endorse or recommend any securities or other investments. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. All trademarks, service marks and trade namesappearing in this report are the property of their respective owners, and are likewise used for identification purposes only. The member/subscriber agrees that he/she alone bears complete responsibility for his/her own investment/trading decisions. Allabouttrends.netshall not be liable to anyone for any loss, injury or damage resulting from the use of any information. Trade at you're own risk, this information is strictly for educational and informational purposes only. assumes NO responsibility whatsoever for any losses experienced by anyone who uses its educational materials to make financial decisions. All charts courtesy of

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