SHOGUN TRADING STRATEGY
DAILY ANALYSIS FOR 04/24/06

(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.)

SHORT TERM ANALYSIS

The market, again, unable to break the 1750 highs, has pulled back.

LONG TERM ANALYSIS

The last attempt at breaking out failed and created a double top, a bearish signal.

TRADING CONDITIONS

Just came back from our trip to Sonoma County, highly recommended! Beautiful place, great weather and good wines. If you get a chance to go, do it.

We have been very busy lately and this is the first time I have taken off since the October hurricane. It was very nice to take a break, it was refreshing.

Now, back to the market...

The NDX, NASDAQ 100 index, made another attempt at breaking above the 1750 resistance level. It was unable to do so, met with serious selling and pulled back. By doing so, it actually created a double top on the chart. This could mean the beginning of a longer term down trend.

If we break below the low of 04/17/2006, the 1684 level, it will confirm the down trend.

In the mean time, this is earnings season. That means daily gaps, high volatility, unpredictable price movements and other treacherous terrain for swing trading. This is great for our day trading, but swing traders should exercise extreme caution here.

Hope this helps,

Shay Horowitz - ShogunTrading