Stocks made a strong statement last week with the Dow Jones Industrials moving above the 11,000 mark decisively for the first time since June of 2001(!). The Dow flirted with 11,000 in March of last year and briefly broke thru 11,000 at the start of this year, but both times it quickly retreated back below this major resistance level. As the intraday chart below shows, this time the Dow broke thru 11K in the middle of Valentine's Day, fell back below 11K briefly 24 hours later, but has moved steadily upward since then on good volume. While that is promising, seasoned ChartWatchers will be watching for a retest of the 11K level in the coming days - that test will show if the former resistance level has turned into a support level or not.
SUPER IMPORTANT ANNOUNCEMENT!
Feedback from the SharpCharts2 Beta program has been so positive that we are starting the process of converting everything on the site from using SharpCharts1 to using SharpCharts2 instead. In the coming days and weeks, you will see a gradual change in which version of SharpCharts appears as you navigate through StockCharts.com. For example, we recently added links so that you can easily get from the SharpCharts1 workbench to the SharpCharts2 workbench and back again. Soon, many of the links that take you to SharpCharts1 will automatically change so that they take you to SharpCharts2 instead (the "1-2-3" box on our homepage for example). Soon after that we will roll out a SharpCharts2 version of our Public Chart List area. And soon after that Free users will only be able to use the SharpCharts2 workbench.
After each change, we will be watching for feedback from our users on how things are going. If all of the previous changes go well, we will then take the final step and convert all of the Basic and Extra members fully over to SharpCharts2 and lift all of the current restrictions on where and how SharpCharts2 charts can be saved.
When that day comes - probably around the end of March if all goes well - SHARPCHARTS1 WILL NO LONGER EXIST! That is why it is sooooooooo important that everyone take a serious look at SharpCharts2 and tell us if there is anything that they can do in SharpCharts1 but not in SharpCharts2. NOW IS THE TIME TO TELL US ABOUT THOSE KIND OF PROBLEMS. Unfortunately, all of our users do not read this newsletter and will probably swamp our customer support team when the cutover happens. We need those of you that do read the newsletter to send us your feedback NOW, before the big crunch occurs.
Thanks again for helping us make SharpCharts2 the most powerful charting tool on the web!