Swing Trading Stock Picks - Swing Ideas Weekly Market Update Sept 26

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by Shay Horowitz - September 26, 2005

Shogun Trading
Daily analysis for September 26^th, 2005

(Use this chart and commentary to plan your trades. The goal is to trade with the market, never against it. This chart will show our expectation, projection and commentary. This is a very important tool for you.)

· The market actually made an upside down head and shoulders pattern.

· Basically, it shows a solid bottom formation on top of the 1550 support level.

· On a short term basis, we are starting an up trend.

· This is still within the longer term down trending channel, which could negate the up trend.

· The market is still in a longer term down trend, but we are on top of rock solid support

· If we break support, you can expect a long term down trend to form.

· If we don't break, expect a range bound market for a while until we setup another trend.

*TRADING CONDITIONS*
Hurricane Rita, thankfully, did not inflict as much damage as expected, especially on the oil industry. We are still going to see fuel shortages and higher fuel prices, but in our opinion, that is already built into the market. The market does not mind negative news, it does ,however, hate uncertainty. Now that the hurricane is behind us and damage assessment is under way, the market can have certainty and a trend. For the next week, we will be looking for the market to digest the news and get ready for another trend. If we break the long term support of 1550, we will go short across the board. If the market does not break, we will close all shorts and get ready for the upside.
*MARKET "EXCITOMETER"*
Use this new "Excitometer" to determine your trading aggressiveness. The higher up the number, the more excited we are about trading the market here.

Hope this helps,

Shay Horowitz - ShogunTrading

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