Pros Weekly Play Book - Get Ready! $GOOG $IYT $FDX

At this time, many investors are focused on the problems in the European Union, and the U.S. political debate over the debt ceiling being raised. As a trader, the focus should simply be on the charts and the patterns that stocks and commodities are making. In the last report which was posted on July 10th, 2011, the focus was on the Dow Jones Transports. The charts at that time told us that transportation index was extended and due for a pullback - and that is exactly what happened. Readers can easily go back to that last report and see how those charts played out in the iShares Dow Jones Transportation ETF (NYSE:IYT), FedEx Corp. (NYSE:FDX), and Union Pacific Corp. (NYSE:UNP). Learn to read the charts properly and profit. This week, the extended stocks are coming out of two different sectors. The first sector that is extended is the oil services stocks. Therefore, we shall examine the Oil Services Holders Trust (NYSE:OIH). The second group of stocks that appear extended at this time come from large capitalization technology stocks such as Google Inc. (NASDAQ:GOOG), Apple Inc. (NASDAQ:AAPL), and International Business Machines (NYSE:IBM). Lets find levels when each of these stocks will have good daily chart resistance and present the best trading opportunities. The Oil Services Holders Trust (NYSE:OIH) is a basket of the leading oil services stocks. The OIH gained $7.87 last week, closing at $161.53 a share. Price has surged higher by $22.37 a share since its June 27, 2011 pivot low when the stock traded at $139.16 a share. The recent surge higher in the OIH indicates strength by trading above 20, 50, and 200 moving averages. The only problem with the OIH is that price is now extended and overbought on the daily chart. These types of patterns will usually need to pullback or consolidate before moving higher. The next important resistance levels for the OIH will be around the $163.25 area. Should the OIH continue to climb higher the $169.00 level would be the next important weekly resistance level. It is possible to see pullbacks from these resistance areas. Should the OIH pullback traders can watch for short term support around the $156.25, and $153.25 levels.

Apple Inc. (NASDAQ:AAPL) is the leading technology stock in the world at this time. This company designs, manufactures, and markets personal computers, mobile communication media devices, and portable digital music players. As well as sells related software, services, peripherals, networking solutions, and applications around the world. In other words, this stock is the technology market. Recently, Apple stock has surged higher by 85.0 points since June 20, 2011 when the stock traded as low as $310.50 a share. Traders must now realize that the stock is overbought and extended at this time. This does not mean that the stock cannot trade higher, it simply means that it will need to pullback or consolidate very soon. Traders should watch for near term resistance around the $405.00 level. It is possible that the stock could begin to pullback before reaching that resistance area. Should Apple stock pullback, there should be short term support around the $375.00, and $363.00 levels. Join the Pros live as they trade these stocks and more in our Intra Day Stock Chat - view live charts, live trades, profit. Start your Free Trial Now click here.

Google Inc. (NASDAQ:GOOG) is another leading technology stock that has exploded higher since June 27, 2011 when the stock traded as low as $473.00 a share. Last week, the stock closed at $618.23 share, that is an increase of $145.00 in just four weeks. What a move! The stock is now short term overbought and extended on the daily chart. This is when the stock needs to pullback or consolidate before moving higher. The next important resistance area for Google stock will be around the $623.00, and $637.00 levels. The stock will also come into a very important double top resistance level at $643.00 from its January 2011 high. Google stock will have short term daily chart support around the $598.00, and $585.00 levels.

Nicholas Santiago InTheMoneyStocks.com Get in-depth analysis, along with exact entries/exits on swing trades, scalp trades, and even our proprietary cycle work, here is how: ⇒ Investors, Swing Traders, 401k, IRA investors, join our Research Centernow and take control of your financial future! Click here to start your Free Trial NOW. ⇒ Day Traders, Scalp Traders, join our Intra Day Stock Chatand trade along side the absolute best in the industry. Do not waste any time, start yourFree Trial now,click here.

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TRADE LESSON: WATCH FOR THE INTRA-DAY BACKTEST

The USO recently broke out above the $40.00 resistance level on the daily chart. Today it pulled back to the $40 level intraday and then began to trade higher again. All oil did was simply backtest the breakout range. Many stocks and ETF's do this after making a new high. Remember old resistance becomes new support. It also helps that the trend is still up and the trend is in your favor. Therefore you buy the $40.00 level and place a stop at break even or in the money once the trade is profitable with a stop just below the $40 level. Watch for this intraday as it presents a very good risk/reward set up.

Market Technical Analysis - Jobs Data Confirms InTheMoneyStocks 'No Green Shoots' Thinking

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Bear Flag Pattern Possibly On The Financials (XLF) Intra Day

Pattern Formation: Bearish pattern formation on the intra day XLF could mean a fall on the financials for this afternoon. Keep a close eye as the pattern is forming right below the 50ma resistance level. Should this intra day 10 minute chart close above that 50ma, it would negate the pattern of a fall. It should play out by the close.

Source: InTheMoneyStocks.com's Trader Rant and Rave Blog

Market Technical Analysis - Key Levels To Watch! 02/25/2009

InTheMoneyStocks.com looks at all the major levels in this market as they discuss the possible continuation rally or consolidation. They note their expert trend line analysis which is second to none as they purely focus on price, pattern and time. They show a MAJOR trend line that needs to hold and mention, as long as it holds, this market should continue to rally higher. They note the 200ma on the chat that looks like an easy target. They focus on guidance and education, teaching the public how to truly read the charts without the Wall Street hype. Enjoy and come join their Intra Day Stock Chat with live video from the pro traders charts as they teach, discuss and trade the markets. Also, come join their top selling service, the Research Center. The Research Center contains night Technical Analysis Videos with all the major levels to watch in the coming day and days as well as InTheMoneyStocks.com projections on future movement on the markets, oil, gold and US$.

Market Technical Analysis - The Battle Rages On! 02/19/2009

InTheMoneyStocks.com discusses the battle in the markets as we continue to trade along the flat line. They talk about how the market continues to battle against that $80.00 on the SPY and fail. In addition, they also discuss the downside key support lines, educate on how to start developing your ability to draw them as they create them on their charts and more. InTheMoneyStocks.com identifies all the major levels on the intra day chart to watch and discusses the huge oil pop they have been discussing and alerting their premium subscribers to watch for. Come become one of the elite premium members of the Research Center, Chat Room or Swing Trade Alerts. Get all the major levels on the markets, oil, gold the US$ and major stocks like AAPL, GS, XOM and more. Get educational videos, hidden gem plays, daily market reports, market research videos and more for almost no cost.